More importantly, what can we do for you? At Engine Room, we pride ourselves on being Business Specialists. Although Accounting is a large part of our job function, there is much more we provide than financial accounts. Our approach is to offer more than your average accountant – more than just keeping score. In fact, […]
What does an Accountant do? Read More »
What you should consider when you want to exit If you are looking to exit your business or have a future intention to do so, you need a plan to get the business ready for sale. When you sell, you want your business to have as much inherent value as possible – so you get
Selling a Business Read More »
Key points to consider when buying a business Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully. We have recently seen a lot of activity with people buying a business even in these Covid-19 times. Established
Get in Control of Cashflow It’s a well-worn phrase, but cashflow really is the lifeblood of your business. When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position – giving you the liquid cash needed to trade, improve and grow as a business. But if costs start
Cashflow – ways to improve Read More »
An Overview of the New Trusts Act 2019 For those of you with trusts, you may recall we’ve talked about the new Trust Act which will come into effect on 30 January 2021. As Accountants, we have now received further guidance and application of the new Act so we can have some more conversations! The
An overview of the new Trusts Act 2019 Read More »
In the current economic climate, your business may be exploring cost-saving options, including reorganising or downsizing your workforce. If you are looking at restructuring and the possibility of redundancies, you need to understand the difference between the two, as they often get mistaken for the same thing. Getting either wrong could cause you issues, delays,
The difference between Restructuring and Redundancy Read More »
Protect your customers and staff with contact tracing. NZ COVID Tracer QR code posters are free to create and are mandatory from 12pm on Wednesday 19 August, for businesses and service providers under Alert Level 2 and 3. In order to help prevent the spread of Covid 19 in New Zealand, the government now requires
Mandatory contact tracing for NZ businesses Read More »
The Government announced on 17 August 2020 a new round of the wage subsidy, in response to current lockdown restrictions. The Resurgence Wage Subsidy is a 2-week payment. Businesses will need to show a 40% drop during a period of at least 14 days between 12 August and 10 September 2020, when compared to last
The Resurgence Wage Subsidy Read More »
A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the
The Fundamentals of a Business Budget Read More »
For your business to make money, you need to generate revenue. You produce revenue through your usual business activity, by making sales, getting your invoices paid, or taking cash from paying customers. So, the better you are at selling your products/services and bringing money into the business, the higher your revenue levels will be. But
Understanding Your Revenue Drivers Read More »
