Key considerations for your academy

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The process of becoming an academy requires a big change to the culture, management and financial administration of your school. And as we pointed out in our last blog, there are plenty of areas where you will need to plan ahead to make sure the right levels of financial management are in place.

If your school is going through the conversion process to become an academy, there are a few key questions that you will need to consider.

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Academies and helping your school with change management

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In Budget 2016, the Government confirmed its plans for every school in the UK to convert to academy or free school status by 2020 – or to be actively planning to make that change.

If you are the head or management team of a school that’s yet to make this change, this presents a big challenge. There is a multitude of considerations to start planning for, not least of which is the impact of academisation on your financial management and accounting processes.

Whether your school is starting out with its plans for this change process or has already made the switch and needs assistance with its financial systems, there are some key elements you need to start planning for to ensure you are delivering the best financial performance for your educational establishment.

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How to change the direction of your business (and stay profitable)

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Changing the direction of your existing business is challenging, hard and time-consuming work – and certainly not an enterprise for the faint hearted! But, on the flipside, when a chance is carried out well it can also be a highly rewarding and profitable move for you and your business.

How, then, do you decide if a change of business direction is right for you? And how do you ensure that this change process is effective and meets your newly conceived vision for the business?

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