Presenting Business Plans: Why People Feel Nervous and What You Can Do About It *Are you trying to set up a business? Alternatively, are you trying to expand your business? If you think your bank will accept your excellent verbal idea of your business, that must be correct. You will have […]
Ways to Reduce Tax problem for Your Small Business The owners of small businesses and the freelancers become terrified of the tax liability when it comes to filing the tax return. When starting a small business, you must be aware of the tax liability and possible claims for your expenses. Implementing […]
Understanding Financial Statements Balance Sheet Stock Photo & More Pictures of Bank Statement _ iStock In any business, accounting is a crucial aspect of the business’s success. When you get the advice of an accountant and implement proper accounting systems, it will lead you to the correct path. Recording all the […]
Background of Accounting and Accountants Accounting is an integral part of a business. Some entrepreneurs try to do that themselves and others hire an accountant. I am writing this article to show the freelancer the importance of accounting for your business. Considering that a company needs to do this in a […]
How do you discover fraud in your business? Maintain accounting books. Accounting and financial reporting fraud is called cooking the books. Accounting frauds record sales in the books for the goods never sold and did not record expenses incurred. If that does, more profit will show in the books. Therefore realistic […]
Financial planning, Budgeting, and controls Reasons for budgeting A business cannot open its doors each day without knowing what to expect and close its doors without knowing what happened. A company cannot run without proper preparation for the future and control its actual performance to meet its financial goals. Business managers […]
How to find Working capital finance? It is capital that is used in day–to–day operations of the business. It is the balance from the current assets minus the current liabilities. A shortage of working capital creates Cash flow problems in the business. There are two ways to find your business’s working […]
Creating Cash Flow with Old Inventory Most small owners like to keep the old inventory in the store warehouse without realizing the result of their actions. Eventually, that will affect the business and go into bad shape. Unfortunately, most small business owners do not understand about inventory. They must know that […]
Enforce Internal Control What is internal control? Internal control is vital to protect the company from mistakes and fraud. A business will not be able to survive in the long run or grow if internal control is not enforced. Every business needs internal control as any company is targeted for theft. […]