Do you know your business breakeven point? Knowing how much income you must generate to cover all fixed and variable costs means you can make better business plans and financial decisions for long-term sustainability and profit.

As a business owner, that’s one of your key financial aims – to make enough sales, at a big enough margin, to generate profit from your enterprise. But how does profit differ from cashflow? And why is cash king?

What are the most common accounting mistakes made by business owners? And what can you do to avoid these pitfalls and keep your finances looking healthy and shipshape?