Chapter 1
Recording the Financial Facts
IN THIS CHAPTER
Managing the books
Keeping good records
Submitting your accounts
Dealing with your accountant
Preventing fraud and insuring your cash
If profit is one of the more exciting and interesting aspects of running your own business, keeping track of exactly how that profit is made is almost universally seen as one of the dullest tasks. The work involved in this area is often either left to the last minute, delegated in its entirety to an accountant or bookkeeper, or outsourced.
Nevertheless, as the boss you have to know everything about everything, and accounting and finance is no exception to that rule. In fact, it is one area where there are some hard and fast rules imposed and checked up on by regulatory bodies: the people who make and oversee rules for governments. You can decide whether or not to advertise your wares, where to advertise and to a large extent the format of your adverts. When it comes to recording financial information, ...
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