Looking for an answer to a question?
Frequently Asked Questions
We understand that you might have lots of questions when looking for an accountant. For this reason, we have compiled a list of frequently asked questions for you, which we hope will be helpful. However, if you have any further questions, please contact us.
A business plan is a formal document outlining the goals and strategies of a company. A business plan is a written blueprint for the company that details its intended direction in terms of marketing, finances, and internal operations. Business plans are used by many types of businesses, from start-ups to multi-million-pound global organisations.
Once you have established your company and are making a steady profit from the products or services you offer, the temptation to grow your organisation is understandable.
While expanding your customer base and your product line are both necessary for growth, maintaining or expanding your profit margins should be just as high on your list of priorities. Increasing sales from current and potential customers, refining, and expanding one’s product or service line, securing financing, and staffing up are all ways in which a company can grow.
Management accounting is meant to help businesses make better decisions by collecting and sharing important financial information with the people who need it to reach their goals.
The goal of managerial accounting is to help people inside the company make smart business decisions. This is different from financial accounting, which is all about keeping track of money.
Succession planning is the process of preparing your business for the future. That way, you’ll have a potential replacement in mind before a key employee leaves (who, hopefully, has been well trained for this eventuality). Having a plan for who will lead your company in the future is important if you want to survive the changes that come with running a business.
Ready to get in touch with us and see how our team of accounting and business advisory specialists can help you? Complete our quick and easy contact form and we will contact you to discuss your requirements.
Meet the team
We are incredibly proud of our team here at Nichols & Co, with some of the best chartered accountants, accounting trainees, payroll specialists, auditors and tax advisors in Greater London. Check out our team below.