A single thread that ties all business departments is accounting & finance. The finance department records and reports every business financial activity to executives and stakeholders, helping the decision-makers make timely and informed decisions, mitigate risks, and stay compliant. What is Financial Reporting? Financial reporting is an unavoidable chore every business must do to…
Most businesses use the accrual-based accounting technique for its manifold benefits and industry-wide acceptance. All its perks aside, accrual accounting makes it a tad bit difficult to manage finances as it counts income as soon as the invoice comes and factors expenses once the bill is received days, months, and sometimes years before cash changes…
As the business expands, it gets tougher to manage day-to-day finances while ensuring forward motion. Without a cash management strategy, a startup heads into trouble sooner or later. With that, it’s time to explore ten things you must know about cash management strategies. 1. Don’t Let Late Payments Become A Habit Late payments are…
In interviews, people often get asked, ‘where do you see yourself in X years?’ A similar question makes rounds in the business world, ‘’how much money will your business generate in X years? The answer to this question dictates your chances of procuring the investment or capital needed to launch your startup. Small and medium…
More than a quarter of small businesses fail due to cash flow problems. Calculating the cash flow may appear unimportant to some, yet it’s a task of high importance. To move forward without a hitch and keep your business financially stable, you need to master how to calculate cash flow. Luckily, it is not too…
Even the best falter and fail, be it super athletes, winning teams, or booming startups. More often than not, faultiness lies in little things. Small stuff that startup owners take for granted accumulates into one big catastrophe and derails them from the winning track. For startups, poor payroll management is a little kryptonite that ensues…
It is hard to find people who love to file tax returns. Yet still, some don’t hate it as much as most of us. So, who are they? Are they sons of a higher mortal? No! Simply put, they are the fellas who know ways to minimize the hassle of taxes and maximize returns. The…
Looking for greater financial stability for your business to survive in the long run and navigate the economic ups and downs? You can meet the financial needs of your startup by hiring the professional services of a financial advisor. Whether you are thinking short-term needs or long-term objectives, a financial advisor or a CFO will…
Are you looking for ideas and insights to unlock the true potential of your startup? Perhaps you are searching for ways to streamline your business operations and processes, but don’t know where to start? All startups are born out of a single bright idea that inspires the entrepreneur to make it a reality. But regardless…
You’ve heard of private limited companies, public limited companies, and even LLCs. But what exactly is an S corporation? Many have never heard of it and those that have, really don’t have the first clue of what it is. An S corporation gets its name from the Subchapter S of the Internal Revenue Code (IRC)….
to our mailing list for updates
