How familiar are you with the term “burn rate”? Do you understand how crucial it is for your business to flourish and improve its financial health? Do you know how to calculate it? If you have any confusion or questions about it, this article will help you understand “burn rate” and everything related to it….
If you’re a business owner but don’t have a substantial finance or accounting background, terminologies like liabilities, asset, and equity might confuse you. However, while managing your books and accounts, it is essential to understand these concepts and all that they entail. Before getting into the assets vs equity discussion, you must understand what liabilities…
If you are a startup founder, you are no stranger to the numerous obstacles and challenges all small business owners face – especially in the current unpredictable socio-economic climate. However, all challenges can be met head-on by those who wish to be successful and you are no different. When you have a solid team and…
Listening to an accountant speak can often leave you confused, because of various accounting abbreviations and acronyms that they tend to use. Accountants have a second language that is foreign to those who are not privy to the field. But as accounting and finance are an important part of the world we live in, it…
Whether a CFO is essential for a startup has been endlessly debated but the jury’s still out. While some believe a well-trained financial team can handle a startup’s needs, others say that CFOs offer deeper insights that help businesses think bigger for the future. However, before you decide whether you need a CFO or not,…
If you are a small business owner who intends to switch from cash to credit method of selling, be prepared to deal with concerns like “what’s the credit sales amount you need to receive? From whom? And when?” So, what is Accounts Receivable (AR), what involves the accounts receivable process and how does it impact…
Most startup and small business owners tend to focus most of their time and efforts on understanding assets and liabilities while not considering “equity” as an equally critical aspect of running a business. This guide will offer you an in-depth explanation of what “owner’s equity” is, its importance in the business world, and how it…
Now, more than ever, small business owners find computing payroll taxes increasingly challenging. Having to look after the intricacies of their business, and strategize for growth, they are left with little to no time to let the complicated IRS tax code test their ability to handle everything from soup to nuts. Besides, keeping your eye…
People hardly co-relate accounting with the healthcare industry. As a matter of fact, the accounting department is an integral part of any organization or practice setup where transactions are involved in terms of collections and expenses. Like in any other industry, revenue cycle is the lifeblood of a healthcare setting as well. Hospitals and clinics…
Bookkeeping and accounting are normally used interchangeably, but they are quite different. While their processes are much different, they both work to support a business throughout various stages of its financial cycle. For one, bookkeeping covers the transactional and administrative side of business finances than accounting. Bookkeeping involves recording financial transactions daily and making sure…
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