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Managing cash flow is absolutely necessary for small business survival. After all, wouldn’t running your business be much harder if you can’t figure out where your funds are going? And while small businesses generally invoice for smaller amounts, using an informal process to handle
Business owners tend to develop strong relationships with their accountants. usually at least once a quarter you sit down to figure out where your company stands and how much it owes in taxes. You might also meet a couple times a year to plan when you will make certain investments in your
Making money is likely the reason you got into business for yourself in the first place, or at least one of the many. The ability to earn your own income doing something you love is the American dream but getting the dollars to roll in consistently and dependably is another story altogether.
If small business is supposed to be the economic engine driving this country, we’re at risk of stalling out. Five years after the economic collapse that led to the Great Recession, the ability for small business owners to find financing to grow their businesses still hasn’t fully
The reason you’re in business is to make money, but in order you to do that, you must know how much you’re spending, and set prices accordingly.  It’s simple – without knowing what you’re spending, you’ll never know if you’re running a successful
In my previous article What Drives Your Pricing? I wrote about the importance of understanding the total cost picture in order to develop and implement a strategic cost and pricing model. Here I want to elaborate on that and discuss the various categories of costs, how they influence the bottom
How to Value Your Business The value of a business will depend upon a lot of factors, such as the number of years in business, number of employees, the amount and condition of the equipment, facilities, supplies and inventory, the type of customers, the degree customers are tied to the owner and the stability of earnings.
With our annual deadline for filing tax returns just barely in the rearview mirror, you may have recently faced the decision of whether or not to hire an accountant to handle your business’s finances. It can be quite a predicament the first year you’re faced with this decision and in
Last week, I went over the first five sections crucial to a financial plan. The next four sections are just as important and include fundamental information you will need to present when you meet with potential investors. Remember a financial plan is necessary when you want to attract outside
Financial Accounting is concerned with the preparation of financial statements for people outside the company, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. (Source: Wikipedia). Given the diverse needs of the stakeholders, the

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