SMALL BUSINESS GUIDES
Your guide to your financial information
Understand your financial information & reporting requirements to make better business decisions.
PAYE: deduction tables and tax rates
As a New Zealand business owner, you’re obliged to learn your employer responsibilities to the IRD. But with the help of learning PAYE tax rates, PAYE tables and PAYE deduction tables, you’ll understand them in no time. There are intricacies to calculating and...
PAYE: deduction tables and tax rates
NZ has progressive tax structure that can be complicated for small businesses. Read further to understand your obligations as an employer.
What is a financial statement?
A financial statement is an important document that helps you understand the performance of your business. Read further to find out more.
What is accounts receivable?
Accounts receivable is what you are owed by your customers. Read on to find out more about this important account.
What is depreciation?
If you are a business owner, you know how important depreciation is. Keep reading to learn about methods of calculating depreciation and much more!
Business Financing FAQs
Why is financial information important?
Your company’s financial information is very important because it is often used to evaluate a company’s financial performance. Some aspects of financial reporting are even required by law. For example:
- Creditors such as banks will require your financial information to assess your eligibility for a loan
- Investors need your financial information to assess whether they want to invest in your company
- Managers & owners of the business use financial information as a way to measure past and forecast future performance.
What are some sources of financial information?
Financial information can come from many sources such as a companies credit card statement or bank account. However this will never give enough information to make the judgment on overall performance. To do this effectively, you ideally need the balance sheet, income statement and a cash flow statement. Each of these statements gives a different insight useful for the overall assessment of how a business is performing.
Types of financial information?
There are three main financial information statements. They are:
- Balance sheets
- Income statements
- Cash flow statement
Financial information can also be more broad and include any relevant information in relation to money such as credit card statements or bank transactions.
What is non financial information?
Non financial performance are simply measures of success in a business that are not expressed as a monetary value. Â Non financial reporting might include things like environmental impact, diversity in the workplace and social responsibility. These kinds of measure are increasingly important for determining the overall success of a company.
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