CJM Project Financial Management Ltd

You know sometimes you just have a good day, and as a small business we can all struggle to have those, however on the same day that we landed another client we also managed to save one of our associates £1850 with regard to how they handle their company vehicle tax. It was an email later on in the evening with just a quick question on it - I had a look - understood their issue, and quickly sent them a reply - one satisfied "driver". Some days you just have to enjoy your job. I welcome more days like these!!!

The recession is now over - well by .1% - lets take the good news when it is out there. However sadly the true deep impact of what has happened locally and globally over the past 18-24 months has a long way to run. The reduction in budgeted spend, especially within the Public Sector is going to arrive as soon as the last election ballot closes. To date Edinburgh City Council has tenders out to understand the scope of potential outsourcing for £100m of budgeted cost. However before you outsource, the house needs to be put in order. To do this greater financial management controls must be delivered, implemented and the financial culture behind these organisations changed to ensure cost is at the forefront of thinking. Fundamental development in financial management methodology has to be created, and created now, if this is not done prior to outsourcing of vast swathes of council functions - the council will pay more than they should for allowing the usual large suspects to win outsource contracts to then improve management, strip cost and make money - all at the council budget expenses.

Best wishes for the New Year from CJM, we wish you success for 2010. It is going to be a tough year ahead for many organisations and the purse strings will need to be tightened - if you need to cut costs don't just carry out a blanket cost cutting exercise - consider costs which are not adding value, make sure you check out the direct and indirect value when using those shears.

Best wishes.

Type "project financial management" into Google these days and CJM Project Financial Management Ltd will be there in "Pole Position". The thread from our published articles leads back to the site and is ensuring that we are building our reputation month on month on our aim of being the "one stop shop" for project financial management. I have to thank Mike at Galloway Web Design for a fantastic effort over the year as our "Web design and consultancy partner" in making our planned web presence a reality.

The gales are blowing, floods are effecting many parts of the country and I feel to add to the mood of the weather that this will be a long winter for anyone involved in financially managing their business. The recession which left a thick blanket of financial snow across the country does appear to be in thaw, the glimmer of a thaw has emerged - however the issues which got us to this stage have not gone away. If your business has made it through to this stage of the recession then the time is right to take stock and really understand your financial position. All business must ensure that they know what their true cost base is, how much they are making from each and every sale and how strong and robust their financial controls are. No doubt energy will focus to either recovering sales and revenue or delivering the next product or range of goods. What must not be forgotten is to have solid financial foundation to ensure that your extra efforts are worthwhile. The time to review and understand your financial basics.

Another system could be "harvested without bearing fruit" after only four years of implementation and use the £350m - a £274m overspend - should be replaced according to the National Audit Office. Where Will it end. The system is complex and cumbersome and may become unsupported. Before they rush into a new system, the need is now to deliver a robust and best practice based Project Financial Management Methodology such as our own unique and copyrighted Pathfinder.

For a number of years now I have been involved in many small charities providing financial advice and accounting services, all to great effect. When the Scottish Charity Regulator decided to improve the financial governance for Scottish charities we embraced the news that a greater emphasis Will be put on external review. If your charity was below a £500,000 revenue value then you did not require a full audit, you could use a Chartered Management Accountant to act as an Independent Financial Reviewer and we have acted now as an Independent Financial Reviewer for these charities. CJM Ltd is now launching this as an additional service to it's Project Financial Management services. Charities will be able to source a qualified Independent Reviewer to ensure their financial governance and accounts are robust and meet OSCR regulations. Contact CJM Ltd for your charities accounting, book-keeping and Independent Review requirements