What is financial benchmarking?

Financial Benchmarking Financial benchmarking is comparing an organisation’s financial information to other businesses in the same trade to assess competitiveness, productivity and efficiency. Financial benchmarking can be used to: Determine what and where improvements are called for. As the great baseball coach, Yogi Barra once said, “If you don’t know where you’re going, you might not get…

AIM provisional tax-Mike-Bare Bones Accounting

AIM statement of activity & payments

Understanding your Statement of activity and payments for provisional taxOnce you’ve chosen the Accounting Income Method (AIM), you’ll only pay provisional tax when your business makes a profitAbout AIM From April 2018 small businesses with turnover under $5 million a year can work out their provisional tax using the accounting income method (AIM). AIM uses new functionality included in…