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. […]
The reasons you need an accountant for your business We all think an accountant can help us do the tax return, accounts, and payroll. But we have to make aware that an accountant can help a business in more complicated situations than that. When you start running a business, you might […]
Charity’s Annual Report Trustees’ annual report & Financial statements For the year ended. Name of your charity Reference & Administrative information Names of all trustees Chief Executive Principal Office Charity number Bankers Independent examiner Our mission Our Aims Our Objectives. Report of the trustees for the year ended 31/03/2018 […]
