Analysing trends to improve business
Analysing your business performance is valuable if you take action to improve your business results, however one trend by itself, is not that useful. If, for example, your employee wages are trending upwards, you need to also look at turnover, and profit; and then analyse the ratios of wages to profit. Doing financial calculations, and analysing ratios will allow you to step back from the day to
day operations of your business and look at the overall business performance. Remember, it is only useful if you act on the results.
Make sure you can substantiate ALL of your tax deduction claims.
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