Small business owners ignored December financials until February, then made decisions based on bank balances instead. Sound familiar? When 78% of non-employers pull under $50K annually and profitability turned negative in late 2025, unread P&Ls aren't just an annoyance. They're a business risk.
Nine in ten established UK SMEs (5-250 employees) are planning growth this year, according to Allica Bank's survey of 500 businesses. The catch? External funding requests jumped from 40% to 60% year-on-year, while electricity charges are about to rise 60%.
The Employment Rights Act received Royal Assent in December 2025. Key changes roll out April 2026 to January 2027, including day-one unfair dismissal rights, sick pay from day one, and no compensation cap. CFOs and HR need to audit policies now.
Seattle's 5% tax on compensation above $1 million collected $115 million in its first year, 75% higher than estimates. 170 employers paid up by the 31 January deadline. Nobody fled to Bellevue.
Chartered accountant Vjekoslav Fak has been suspended for five years and ordered to pay $9,247 in costs after ASIC disqualified him as an SMSF auditor. The accounting body proceeded without him after he ignored multiple contact attempts.
US Supreme Court ruled 6-3 on 20 February 2026 that President Trump's global tariffs exceeded his authority under the International Emergency Economic Powers Act. Decision returns tariff policy to Congress, where Republicans hold razor-thin majorities and Democrats oppose broad duties. House passed legislation ending Canada tariffs this month. White House signalled it will pursue alternative legal tools, including Section 232 national security authority or Section 301 investigations, though both require lengthy processes. CFOs should model import cost scenarios with and without duties. ASC 330 tariff treatment complicates inventory valuation; ASC 350 goodwill assessments may require adjustment if margin compression persists.
Decision window narrows after 100+ day wait on Trump's worldwide tariffs imposed under IEEPA. $130 billion collected to date. Lower courts ruled unlawful but stayed pending review. Companies filing protective suits at Court of International Trade to preserve refund rights. Average effective tariff rate: 16.9% (highest since 1932). Federal Reserve analysis: nearly 90% burden on US firms and consumers, averaging $1,751 per household annually. Three outcomes possible: tariffs struck but no retroactive refunds, delayed implementation for Congressional action, or refunds with unspecified timing. Administration has Section 122 fallback (15% for 150 days). Finance teams should review tariff schedules, document filings, and prepare contingency scenarios including ASC 330 inventory adjustments.
HMRC confirms Making Tax Digital for Income Tax Self Assessment mandatory from 6 April 2026 for sole traders and landlords earning over £50,000. 864,000 taxpayers must source MTD-compatible software, test systems, and train clients within seven weeks. Quarterly digital record submissions replace annual filing from day one. New points-based penalty system launches simultaneously: two missed deadlines (annual) or four (quarterly) trigger £200 penalties. PAYE tax codes updated for 2026-27. Phase 2 lowers threshold to £30,000 in April 2027. Nearly 20% of HMRC software interfaces remain untested. Action now: identify affected clients, implement software, brief on obligations.
Robert Half's February 2026 survey of 2,000 US hiring managers found only 6% of finance leaders have adequate staff for priority projects. Sixty-two per cent report skills gaps worsened year-on-year. AI-generated applications complicate hiring. Sixty per cent plan permanent hires in H1 2026. Fifty-five per cent will increase contract hiring. Fifty-seven per cent prioritise upskilling existing staff. Twenty-six per cent outsourcing compliance work. Despite shortages, 83% of managers remain confident about 2026 growth. Interim professionals and fractional CFOs filling gaps where full-time hires aren't feasible.
Guardia di Finanza searched Amazon's Milan headquarters and KPMG offices on 12 February 2026, investigating whether Amazon maintained an undisclosed permanent establishment in Italy from 2019 to 2024. Seven Amazon managers' homes were also searched. KPMG provided tax opinions on the actions being investigated but is not itself under investigation. Amazon already paid €510 million in December 2025 to settle a separate dispute covering 2019 to 2021. Italian prosecutors are running two additional investigations into Amazon covering later periods and customs fraud involving Chinese imports.
Twelve best practices. Eight proven tips. Five strategic ways. The advice is uniform, obvious, and surprisingly difficult to implement. We looked at what CFOs are actually saying about accounts receivable management.
In uncertain economic times, businesses that master cash flow management will outperform those focused solely on profitability.