What is your net worth? Your net worth is your total wealth. After considering all your assets and liabilities, how do you figure out your net worth? It’s a simple equation. Add up the value of all your assets, subtract your debts and liabilities, and the result is your net worth. Understanding […]
Why Do Companies record annual profits for the year ended March? What are the reasons behind this? The companies, if they start in April, must close the accounts by the end of the following month, March, to prepare for the tax calculations. The tax must be paid in the following year; […]
What are some ways for an entrepreneur to assess the performance of their Bookkeeper? 1. They’re always behind in responding to you. It will be frustrating if the bookkeeper takes more time to provide you with your company’s financial information. This goes along with general professionalism, which you should be […]
What exactly is a continuity plan? How to stay away from fiascos? Prepare yourself for them. At the point when things are working out in a good way, you frequently neglect to anticipate the terrible times. However, in a disaster, you could quickly lose everything. A seismic tremor can carry your […]
It is a massive problem for small business owners to maintain their finances and working capital as they need to follow proper accounting methods. I will discuss things that should have been done when you started the business. Firstly, to check the finances daily, you must have a cash flow […]
How do we measure financial health in a business using ratios? What is a financial ratio? Financial ratios are quantitative metrics that assess a company or organization’s economic health and performance. They give valuable insights into a company’s financial situation, helping investors, analysts, and management make informed decisions. Financial ratios are powerful tools that give valuable insights into a […]
How do I get rid of business debt? If your business has accumulated more debt than it can handle, it’s crucial to figure out how to get things back on track. Neglecting the issue will only worsen matters and could ultimately dissolve your business. Here are seven ways to manage business […]
What are some things that someone without a finance background should know in personal finance (Most significant) Holy cow, but there’s a lot of bad advice here. As a younger man, I was a financial consultant, and here are some truisms about personal finance. 1. Do save money from this moment […]
Are turnover or profit margins more crucial for a new startup? Please explain the reasoning behind this. Companies with good sales might have low-profit margins. The reason could be that the price and costs are too low. Even though they make a good profit, the result could be a low profit […]