Etiqueta: festivals

What Are Fixed Assets & How To Account For Them

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Companies acquire fixed assets as long-term tangible property. These assets are used in daily business operations to generate income for the business. Often referred to as the ‘capital’ of the business, they include items such as machinery and plant equipment. Their defining feature is that they are not converted into cash in the first year of acquisition. Firms tend to invest in fixed assets for the following objectives:

  1. To enable the production or supply of business goods and services
  2. To act as rentals for third parties
  3. To be used in regular organizational workflows

People often ask how fixed assets are different from inventory. Business inventory is defined as any current asset in the financial database of your organization. Goods classified as inventory signify the company’s worth and can be easily cashed out to cover up any existing debts. For simplicity, inventory can be divided into four categories:

  • Raw materials needed for manufacturing items
  • Goods and services in progress
  • Finished goods
  • Maintenance, repair and operating supplies

As you can see, this is completely different from a fixed asset, which is often a finite, long-term investment. Another point that must be clarified is that fixed assets don’t have to be ‘fixed’ in the sense of being stationary or immobile. They can easily be moved around from one location to another, with vehicles and computer equipment being good examples of this.

10 Cashflow Mistakes That Can Kill Your Business

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Small business owners are often overloaded with tons of activities revolving around their business, and they have very little time left for managing cash flows or scratching their heads on company’s finances. On the other hand, mismanaging your company’s funds might lead to total failure of your business.

Even though you have the brightest of ideas and your company is on the growth ride from the very first day, it is often seen that 80% of the businesses, big or small, fail or close down, just because they cannot manage their cash flows.

To add to the injury, certain hidden costs or expenses have an adverse impact on the cash flows, which are very tough to manage since they cannot be perceived.

In this article, we run through some of the deadly cashflow mistakes that can really hurt your business. Find out if you are making one of these mistakes and learn how to avoid these.

3 Important Financial Statements For Business Owner

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Small businesses must be well informed to survive in a competitive environment and one of the vital competency they must develop is to read and understand important financial statements. Understanding essential financial statements such as ‘Trial Balance’, ‘Balance Sheet’, and ‘Profit and Loss’ statements is paramount as these are very important reports for small businesses to ensure their competitiveness in the market.

Running a business without understanding these financial reports is like driving a car without a dashboard. Let’s look into each of these financial reports in detail..

Businesses engaged in financial activities need constant information on a variety of parameters such as market demand, market share, price, competitive activity, cost of production, investment, cost of capital, and statutory levies. Of these, one of the most vital one is financial information such as revenues, costs, capital, salaries, loans and investments. If you take an example of a household, information on items such as salary earned by the principal wage earner, expenses incurred on running the household, school fees and price of vegetables would be some of the information required on a regular basis and this would constitute financial information.

One of the methods of collecting and storing financial information is the double entry method where for every amount of money transacted there will be a debit entry in one account and a credit entry in another account. All the accounts will either have a credit balance or a debit balance.

Dublin Tech Summit in April

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Since the Web Summit left Dublin, it left a void that was waiting to be filled and Dublin Tech Summit was created to fill that void. For the first two years of its existence, it was held in Dublin’s National Convention Centre but if it was to expand or grow it had to be held elsewhere and this year it is been held in the RDS.

When you mention the words RDS and Tech Conference, the first thing you will be thinking of is Wi-Fi especially with around 10,000 attendees attending over two days. But bar a few minor hiccups there has been no major Wi-Fi issues and more importantly no long queues for some of the talks.

One major criticism the Dublin Tech Summit faced was having major speakers speaking at the same time, which forced you to decide which speaker you wanted to see. Thankfully this is no longer an issue and with various stages there are plenty of different talks that you can attend. Today most of the talks seem to be covering or mentioning two areas, AI and security. This is because AI is now powering a lot of the technology that we are using and will be using and GDPR has had a major impact on security.

Download Festival 2019 Guide

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Your favourite band is making a rare festival appearance in the coming months, but unlucky for you, your mates are low on cash or are laying low this summer. It’s a hard decision – do you sack off the opportunity, or head solo?

Going to a music festival alone sounds pretty intimidating – especially when they’re usually full of big groups of friends. It might initially feel awkward or embarrassing going alone, but here’s the thing – nobody cares if you’re alone. In fact, once you’re inside a festival, nobody will even be able to tell you’re alone. Festivals tend to be a judgement-free zone and the majority of people will admire your confidence and sense of adventure.

Book Sziget Festival 2019 Tickets

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Festival lineup: Ed Sheeran, Foo Fighters, Florence + the Machine, Twenty One Pilots, Martin Garrix, The 1975, Catfish and the Bottlemen, Jungle

Sziget is one of those festivals that could never spend another cent on marketing and still sell out every single year. Its reputation precedes it by almost a decade, and Budapest makes an incredible host city.

When & where: 7-13 August 2019; Budapest, Hungary

Best Summer Music Festivals in Europe

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Just outside of the tristate area, Firefly draws in crowds from all around to the otherwise unsuspecting Delaware woods. Firefly is largely based in pop music, though frequently features it artists from a variety of genres as its headliners, turning upstate into a youthful haven throughout June, as fans are ready to camp it out in the rustic setting in trade for afternoon to late night parties.
Headliners: Death Cab for Cutie, Courtney Barnett, Panic! at the Disco, Post Malone
Other acts to check out: New Jersey-originated rapper 070 Shake, aka Danielle Balbuena, blends danceable house-inspired beats with minimal, singsong vocal cadence; Rubblebucket, purveyors of wild indie pop; Emo Nite, a popular party-throwing crew that’ll be laying down tracks from the popular ’00s MySpace bands.

Funding on CAPS Initiative

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This queen of the mash-up leads her loyal subjects to the Maltese coast for some fun in the Mediterranean sun. AMP parties are legendary for their outstanding line-ups and Lost & Found does not disappoint. Expect to see the best house, techno, grime and bass DJs at castle raves, pool parties, in boats and at the Hidden Nighttime Arena.

The Dublin Tech Summit have learned from the previous two events and have done a great job in a new venue. They have also managed to get great a line-up of speakers from Chris Hadfield through to Brenda and John Romero. I will be at Dublin Tech Summit tomorrow along with other members of the Irish Tech News team and if you see any of us feel free to come up and talk to us.

Line-up includes Annie Mac, The Black Madonna, Chase & Status (DJ set), Artwork B2B Horse Meat Disco, Bugzy Malone, Peggy Gou, Shy FX, Skream, Toddla T.

Marketing Tools In CX strategies

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CX (Customer Experience) is the discipline of mapping a customer’s entire digital journey and responding to it by creating as smooth, intuitive, and memorable experience as possible. But the importance of customer experience is far more than a definition.

At its core, good CX is about being able to predict what a customer wants, when in their journey they’re likely to want it, and meeting and exceeding their expectations at every touchpoint. So, when we think about customer experience management as a process and practice, the relevance of customer research starts to become obvious. Leveraging your existing data, even from cursory reviews of your Google Analytics, to create a compelling, trackable customer journey is not only the principle of a good CX strategy; it’s how you can create a compelling marketing strategy based on what your customers want.

Forrester found that companies who ranked highly on their CX Index, a compiled ranking of companies based on their commitment to quality CX, outgrew companies who scored at the bottom at a rate of five to one in revenue. This is because they’re deep-mining their data to meet customer where they are. In meeting their audience, these companies are also reverse-engineering the best ways to market to their audience. Marketing is CX and CX is nothing without data. Once you can align these offerings, you can see how superior CX can provide an unparalleled ROI.