Misc

Do you condone theft from your company and
do you know whether it's really happening?

By Tony Kilcoyne


I have been advising business for 20 years and I can say with confidence that employee fraud occurs in over 90% of companies. Granted, the level of fraud varies but remarkably some company directors even tolerate it.

I will later describe different types of employee fraud, but first I want to describe to you what I call Director Psychosis.

Budget 2015

The table below shows a selection of reports that may be of interest on the Irish Budget for 2015.

A Guide to Tax and Entitlements can be seen here

Euro NotesSmall businesses are not applying for bank loans and those that are applying are being refused. This is what a survey of nearly 1500 SMEs, released today, commissioned by the Department of Finance and funded by AIB and Bank of Ireland. To be more precise, only 40% of SMEs requested some type of bank loan with a 19% refusal.  You can download the report at the end of this article.

The following are some sample overdue letters

Cash is the life-blood of any business.

It takes self-discipline and good management to maintain a positive cashflow position within your business. One of the main reasons a business fails is ineffective cashflow management. Cash shortages can prevent you from meeting your financial obligations, and can make it difficult for you to plan for the future.

A GUIDE FOR BUSINESS
Combating Late Payment in Commercial Transactions

Introduction

It has long been recognised that late payment of business debt is a serious problem for suppliers of goods and services.  Late Payment can make it necessary for firms to increase borrowing and to extend overdraft facilities.  Time and resources can be taken up on maintaining and collecting late payments instead of being devoted to other areas of business.

S.I. No.   388   of 2002 European Communities

(Late Payment in Commercial Transactions)

Regulations 2002

I, Mary Harney, Minister for Enterprise, Trade and Employment, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving effect to Directive No. 2000/35/EC of the European Parliament and of the Council of 29 June 2000[1], hereby make the following regulations:

Analysing Financial statement figures in isolation often does not give much of an insight into performance e.g. knowing that a business used €50,000 in materials last year and €70,000 this year would not provide any great indication on the level of performance in materials management. If these figures were compared to sales for both years and showed:

Debt CollectionIn today’s economic environment it is vital to have an effective debt collection process to ensure all your customer’s pay within the agreed credit terms and to keep bad debts to a minimum.  It is important to get the balance right between the level of credit provided and the cost of providing this credit.  The following are a helpful list in aiding to maximise the effectiveness of your debt collection process:

Address

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10, Oakview Drive
Clonsilla
Dublin 15
Ireland

Contact Info

Tel: +353 (0)1 8215189
Mobile: +353 (0)87 2326927
Email: info@synergy.ie

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