Whether you’re making decisions about how much stock to order, what extra promotional activity should be undertaken or if you can afford to pay an employee more money, reporting plays a vital role in understanding the impact any choice has on your bottom line and cashflow.
Having your accountant do your reporting might cost you a little extra, but there are a number of serious benefits to having an experienced professional look closely at important business figures.
Australia’s biggest steel maker, BlueScope Steel, said higher raw material costs, the strong Aussie dollar and reduced local demand resulted in a loss of $55 million for the first half of the 2011 financial year. This compares with a loss of $28 million for the same time in the previous year. Speaking at the half-year results briefing in Sydney, BlueScope Steel’s Managing Director and CEO, Mr Paul O’Malley, said “the result is ‘in line’ with the Company’s guidance at the Annual General Meeting and reflective of the developed world steel industry performing near the bottom of its cycle.
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