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7 astute steps to successful cash flow management collaboration by an expert!

Cash is King! Having an accurate measure of your company’s cash is always critical, now more than ever. Here at Astute, as part of a new series of articles, we are sharing 7 simple steps to guide you, in collaboration with a fully qualified accountant and expert in providing cash flow advice and more to SME businesses and larger organisations.

David Thorley is an experienced, fully qualified Finance Director with a proven career in managing the financial tillers of several businesses. Together, we wanted to share his 7 steps to achieve successful cash flow management.

Over to David….

“We need a 13-week cash flow!

An all too familiar phrase that I have heard over the years from banks and finance providers and in these uncertain times an especially challenging request even for experienced number crunchers!

You can, however, meet this challenge using the following simple tips: –

1. Communication with your finance provider is crucial – whatever the reason, DO NOT make promises you know you cannot keep and DEFINITELY DO NOT say it can’t be done!

2. Very few businesses can accurately predict cash flows, but everyone can make an informed forecast.

3. The past may not be an accurate predictor of the future, but it can be an indicator! Summarise the cash flows over the previous 6 – 12 months over key headings and use for forecasting future trends.

4. All forecasting relies heavily on assumptions that identify the key sensitivities (e.g. you could be predicting quarterly rent payments being agreed to be deferred or moved to monthly).

5. Look for seasonal fluctuations in income or expenses – right now this could be forecasting recovery of previous levels of sales over a 3 to 6-month period.

6. It’s not unusual for the balancing number (to keep within the facility), to be payments to creditors and, in times of extreme cash pressure, this is inevitable; but again, communication is vital to avoid going on stop with crucial suppliers.

7. You may need to prepare more than one forecast – based on different assumptions. Again communicate the basis of the chosen forecast when it is shared.

The most important point is to always try to anticipate potential issues. Banks particularly appreciate early warnings especially if it is a potential breach of facility as it indicates a degree of control.”

Great tips so thank you David!

If you need a cash flow expert in your team, call Astute and we would be delighted to assist you.

We will be issuing more articles and tips on a wide range of accountancy, finance, HR and recruitment issues in collaboration with experts in these fields.

If you have found this article informative and helpful, please let Mary Maguire at Astute Recruitment know as feedback is always welcome. Feel free to share this article with others who you feel could find this useful.

#cashflow #CashIsKing #accountancy #finance #financedirector #cfo #financetips #BeAstute

If we fail to believe we believe in failure.

Whilst Sarah Stevenson and I set up in ’09, clearly a very difficult time, we knew we were great at what we do, confident to carry this through with just Sarah’s redundancy and ultimately we believed.

In ourselves and our ability to source talented accountants for local clients.

We believed in our relationships.

We believed in our loyal clients and believed in our trusted candidates.

Here we are again. Facing a seismic shift in global wealth. But hey, ho. Confidence favours the brave!

We have not made any of our talented family of recruitment consultants redundant.

We have not shut down operations.

We have adapted to the current circumstances, found new ways of working and retained our team spirit and strength.

We continue to work with amazing people and businesses who are also finding new ways of working. New ways to ‘onboard’ new staff.

We have said we will carry on. We believe in our staff, and our clients are working with us to carry on and recruit talented people for their teams even in the current crisis.

Yes, things are different.

Yes, things are difficult.

BUT, if we accept failure is an option, failure becomes a guarantee.

Now is the time for ingenuity, bravery and spirited belief by business owners leading from the front.

If we fail to believe, we are believing in failure.

#believe #belief #BePositive #business #Strength #recruitment #accountancy #accountancyrecruitment #derby #derbyshire #nottinghamshire #eastmidlands #motivationalmondays

Why your business needs a great Management Accountant

The dictionary definition of Management Accounts:

“A set of summarised accounting data (balance sheet, cash flow and income statement) prepared and presented (usually every month, fortnight or week) specifically for a firm’s management. The objective of management accounts is to provide timely and key financial and statistical information required by managers to make day to day and longer-term business decisions.

While financial accounts are the lifeblood of a business providing a snapshot of the income received and bank balance, it is the management accounts that truly deliver a story of where the business has been, where it is now and where it looks like heading. Management accounts are the thermometer of a business’s viability and critically it’s financial and commercial well being.

While AI is constantly looking to replace formulaic accounting there can be no substitute for a strong management accountant and true finance business partner to be the bellwether of a company’s performance.

Here at my company, Astute Recruitment, we have noticed an increased demand from SME business owners and Finance Directors for truly strong Management Accountants / Financial Business Partners – to go through the numbers, genuinely understand the ebbs and flows to provide the senior management team with clear, succinct, accurate information to genuinely impact the bottom line. People who can liaise with key internal and external stakeholders, providing them with meaningful operational information but who can also challenge the status quo to improve performance further.

If you are a Part Qualified/ Qualified Management Accountant who is looking for a genuine chance to add value and perform a true management accounting service for a great business, please contact Andy Lilliman or I for a confidential chat on 01332 346 100 or by email: [email protected] OR [email protected]

We have a number of brilliant roles at the moment with client’s keen to interview before the Christmas Holidays!

Derby-based business Astute Recruitment has been named ‘Best in Accountancy and Finance Recruitment 2017’ at Acquisition International (AI) Magazine’s 2017 Global Excellence Awards.

Corporate finance publications AT Magazine holds its Global Excellence Awards every year to recognise firms that demonstrate ongoing outstanding performance and lead the way across the entire corporation finance sector.

Mary Maguire, MD of Astute Recruitment, said: “We are absolutely thrilled to receive this prestigious award.”

“At Astute Recruitment we’re passionate about supporting local business by matching them with the right people and we’ve worked hard to establish a reputation as experts in this field. We already pride ourselves on being the ‘go to’ financial recruitment agency in the East Midlands but it is an honour to be recognised on a much wider scale.”

Elliot Ashbourne from AI Magazine said: “These awards showcase businesses that routinely go above and beyond in terms of what they offer their clients, while at the same time pushing the boundaries of what has previously been though possible for firms in their industry.”

“Winners are chosen through a rigorous and in-depth selection process from our in-house award specialists. The team left no stone unturned to ensure that every winner was selected based on proven performance over the past 12 months.”

David Ralph Chief Executive of D2N2 speaking at D2N2’s latest Business Breakfast Breakfast at Derby Museum’s Silk Mill

07 November 2017Business Breakfast held in Derby by D2N2
Businesses heard about HS2 plans for Nottinghamshire and Derbyshire, and their role in ‘refreshing’ the economic strategy for the area, at the third of the D2N2 Local Enterprise Partnership’s Business Breakfasts series today (November 7).

Each year D2N2 – the private sector-led partnership of business, local authorities, skills and training providers, community and voluntary services, and others promoting economic and jobs growth across Derby, Derbyshire, Nottingham and Nottinghamshire – hosts free Business Breakfasts across its area. The events are a chance to consult businesses on future LEP plans and tell them about recent successes.

This morning’s event – the third of six Business Breakfasts – was held at the Derby Silk Mill, Derby city-centre.

Around 40 delegates heard from speakers:

D2N2 Chief Executive David Ralph. He spoke about recent D2N2 projects and its ambitions to use a proposed HS2 high speed network line through its area to promote economic growth, as well as greater transport connectivity.

Guest business speaker Mary Maguire (PICTURED BELOW), co-founder and joint Managing Director of Astute Financial Recruitment (which has offices in Derby and Nottingham), about how she set up her award-winning business and her aspirations for it.
Richard Kirkland, European Structural and Investment Funds (ESIF) Officer for D2N2, on the use being made of ESIF funding from the European Union – via D2N2 – to aid the LEP area economy. Richard also spoke about D2N2’s consultation with businesses, local authorities and others on the LEP’s ‘refresh’ of its Strategic Economic Plan; the current masterplan by which it pursues over-arching ambitions such as creating 55,000 jobs by 2023 (the majority to be in the private sector).

Astute Recruitments MD Mary Maguire Guest Speaker At D2N2s Latest Business Breakfast Held At Derby Museum’s Silk Mill

Tickets are still available for the three remaining D2N2 Business Breakfasts, to be held across the LEP’s area at different locations in November. Places can be booked online via the D2N2 website Events page at www.d2n2lep.org/Events . Future Business Breakfasts’ details are:

Tuesday November 14 – Buxton Pump Rooms, The Crescent, Buxton.
Guest speakers – James Berresford, Chair of the Buxton Crescent and Thermal Spa Heritage Trust; and University of Derby Vice-Chancellor Professor Kathryn Mitchell.
Tuesday November 21 – The Best Western Lion Hotel, 112 – 114 Bridge Street, Worksop.
Guest business speaker – Claire Monk, General Manager and Brewer of Welbeck Abbey Brewery.
Tuesday November 28 – The Pavilion Room, The Derbyshire Hotel, Carter Lane East, South Normanton.
Guest business speaker – Isobel Brown, Interim Programme Director for the Midlands Engine.
Tea and coffee, and breakfast rolls, will be provided for delegates at the events.

For online booking to attend the remaining free D2N2 Business Breakfasts, go to the D2N2 website Events page at www.d2n2lep.org/Events . Alternatively contact D2N2 Social Media and Marketing Officer Sam Burbage on 0115 957 8254 or email: [email protected]

Read more about the events on Twitter at @D2N2LEP and follow the D2N2 Business Breakfasts hashtag #D2N2BB2017

Media wanting more information on the work of the D2N2 Local Enterprise Partnership can contact D2N2 Social Media and Marketing Officer on 0115 957 8254 or email: [email protected]

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Mike

16:04 13 Mar 23

Highly recommended! Josh and Sarah have been fantastic at Astute. They've found and placed me in 2 jobs now between them, both really responsive and excellent at keeping you up to speed with things. Very knowledgable about the roles and happy to talk to companies with any queries you have.

C R.

10:45 27 Jan 23

Great agency one of the best ones I've worked with! Liz has been a great help and support in helping me towards a new direction in my career life. She is very attentive and keeps me in the loop at all times! She makes the extra effort to work with my preferred requirements for work and even if it isn't completely attainable she meets me in the middle and does as much as she can to help! Also Liz is very funny might I add 😂 and I'm happy that I can now put a face to the name after all these years! Thank you again Liz for all your help and support! 😊

Christine

10:32 20 Dec 22

Josh and the Astute team was very swift to help me to find roles that matched my profile. They are really reliable and will help through every step of the recruitment process going out of their way to assist and follow up when needed. Could not find a better recruitment agency!

Helen Pinegar

16:19 18 Dec 22

Fantastic recruitment agency.. Josh was extremely enthusiastic, encouraging and clearly knowledgeable about what was needed from both the employee and the employers point of view. Extremely supportive especially in regards to interview preparation and endeavoured to procure feedback promptly. Wouldn’t hesitate to recommend Astute in the future to both candidates and recruiting businesses particularly for the right fit for the role!!!

Lisa Leigh

11:56 30 Nov 22

I have worked as a candidate for Astute and they have been excellent. Super friendly service and professional agents keen to fit the right person to the right job. It has been a pleasure dealing with them and I would happily work for them again in the future. Highly recommend this agency.