Posts By: admin

Profit, Earnings & EBITDA

When people talk about ‘profits’, do they mean the same as ‘earnings’ and what’s this ‘EBITDA’ thing? The truth is that they are all ways of describing the performance of an organisation. ‘Profit’ is a word that means the amount that is left from income after deducting expenses. But which expenses? That’s a good question…. Read more »

All change in UK Accounting rules: FRS 100, FRS 101 & FRS 102

It’s finally happened, FRS 102 is here! The new blueprint for UK accounting was actually finalised in March this year. So how will things look going forward? When will everything change? And which organisations will be affected? All key questions that are revealed below. What are the reporting requirements going forward? The Financial Reporting Council… Read more »

Here we go with the NHS Commissioning Board

On the 1st October the NHS Commissioning Board (NHS CB) came in to being. I suppose the key question is, ‘what does the board do?’ Well the board is an executive non-departmental body which basically means that it has been established by government but operates independently of them. There are two key parts to the… Read more »


A widely used and often misunderstood way of tracking a business’ performance is to look at its EBITDA. What is this? The acronym stands for Earnings Before Depreciation, Interest, Tax & Amortisation. But what is it actually telling us? Earnings is another word for ‘Profit’. So EBITDA is basically your profit for the period before… Read more »

Service Line Reporting in the NHS

NHS organisations are moving towards a system of financial reporting known as ‘Service Line Reporting’ (SLR) Service Line Reporting is the same idea that’s used in the private sector for tracking the profitability of individual products and services. In the same way that a telecoms company knows the different costs and profits of its Pay… Read more »


Currently under review by the ASB is a proposal that will revolutionise the way UK companies prepare their financial statements. If the plans get the go ahead, these are the accounting systems that UK companies will use to prepare their accounts from as early as 2012: IFRS for AIM & Quoted companies IFRS for other ‘publicly accountable entities’… Read more »