Nov 17

This is the basic equation of business and accounting but when was the last time that you thought about it?

Charles DickensW in David CopperfieldW said:

 

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

What was true in the 19th century is still true in the 21st; it is not the value of the Revenue or the Expenses that matter but only the difference between them. More...

Apr 08

A casual glance at these two maps shows that nations with the strongest Rule of lawW are pretty much the nations with the strongest EconomyW and vice-versa. Why?

While this is a highly complex question that has engaged great minds for millennia that is not going to stop me from throwing out my own off the cuff answer. More...

Feb 17

One of the most difficult things for a small business person to do is to delegate. Yet it is essential once there is more than one of you in the business and, let’s face it, unless you are planning to do your own tax returns you will be delegating at least to your accountant.

With the accountant we are talking about upwards delegation – giving tasks that you cannot do to somebody who can. This is the easy form of delegation because you have to delegate or the task won’t get done.

What I call downwards delegation is where you delegate tasks that you can do, perhaps quite well, to someone else. This is the tricky one. More...