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The Benefits of 'Finance for
Non-Finance Managers' Training:
4 Questions to Ask Your Finance
Team This Week
Question 1
What’s our average debtor collection
period?
• Should be less than 30 days
• More than 60 is cause for alarm be...
Question 2
What are we doing to improve it?
• Cut credit for bad customers
• Offer cash & early payment discounts
• Charge...
Question 3
How do we improve our working
capital ratio?
• Better debtor collection
• Clear old inventory by discounting
• ...
Question 4
What is our inventory turnover ratio &
is it in line with industry benchmarks?
• High turnover indicates invent...
Get in touch…
Want to understand more
about your business’s finance?
Visit: www.colouraccounting.holstgroup.co.uk
Call: 08...
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4 Questions To Ask Your Finance Team This Week

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Financial literacy training will help you understand your finance team so you can work together in driving your business forward. We’ve got 4 questions you can ask this week, just to show you’re a little more clued up than they thought you were.

Publié dans : Économie & finance, Business
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4 Questions To Ask Your Finance Team This Week

  1. 1. The Benefits of 'Finance for Non-Finance Managers' Training: 4 Questions to Ask Your Finance Team This Week
  2. 2. Question 1 What’s our average debtor collection period? • Should be less than 30 days • More than 60 is cause for alarm bells • More than 90 is a warning to shake things up
  3. 3. Question 2 What are we doing to improve it? • Cut credit for bad customers • Offer cash & early payment discounts • Charge interest on overdue accounts • Outsource collection to third parties
  4. 4. Question 3 How do we improve our working capital ratio? • Better debtor collection • Clear old inventory by discounting • Arrange some form of finance
  5. 5. Question 4 What is our inventory turnover ratio & is it in line with industry benchmarks? • High turnover indicates inventory is being efficiently managed • Fewer funds tied up in stock & more funds available for other obligations • Good turnover varies between industries
  6. 6. Get in touch… Want to understand more about your business’s finance? Visit: www.colouraccounting.holstgroup.co.uk Call: 0845 456 4000 Join us:

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