A majority of UK business owners find it too time-consuming or expensive to borrow cash from their bank, according to the Working Capital Outlook Survey from C2FO, a working capital exchange.
In the "Benefits of Lean Accounting in a Lean Manufacturing Company," author Dan Anthony discusses the major differences between traditional and lean accounting, starting with a quote from Taiichi Ohno that says "costs do not exist to be calculated; costs exist to be reduced." This really gets to the core of the difference between traditional and lean accounting: traditional accounting focuses primarily on the cost of goods sold, whereas lean accounting focuses on the value stream from customers to suppliers.
A few years ago, the OECD embarked on a multiyear effort to create an international tax framework that closes perceived gaps in international tax rules. This includes combating base erosion and profit shifting (BEPS) to ensure companies pay their "fair share" of taxes. Many of the BEPS Project's action items are expected to be finalized later this year.
Companies that are ignorant of the opportunities for duty avoidance, made possible by free trade agreements and changing government regulations, are leaving millions of dollars on the table, says Bernie Hart, vice president of global trade management sales with Livingston International.
Many companies have become adept at using supply-chain management to increase their competitiveness, yet the function remains under-utilized in one vital area: working capital management.
Planning for a pickup in sales, some small manufacturers borrowed money from their larger counterparts to ramp up production. Now, a growing number can't pay for the investments as their forecasts aren't panning out, with energy-related companies being among the hardest hit.
Typically, manufacturers are so focused on news and advances within their field that they don't consider the importance of partnering with a CPA firm that really understands their industry and business.
Tradeshift, provider of a supplier-collaboration platform, has entered into a global partnership with C2FO, a market for the acquisition of working capital.
