Manufacturers are being revolutionized by digital technologies. Digitalization is the use of digital technologies and data in order to create revenue, improve business, replace and transform processes, and create a new environment for digital business. Digitalization is integrated into all aspects of our life, and the manufacturing industry is...
Business planning and budgeting are intertwined. When both are done right, financial goals are met, and the business has a reliable future ahead. Here are a few tips to consider before starting your business.
Are your company’s funds safe on the inside of your organization? As the Starks say in Game of Thrones, “Winter is Coming!” Some types of fraud are inevitable, and businesses should be prepared! Are you too trusting? Consider this example: Brice is the owner of a gym. Brice sees...
Selling investments are not as simple as selling cookies to your neighbors. In fact, a hasty decision to sell might cost you money. So, before you sell an investment (stocks, real estate, or any other valuable), consider the following tips.
During 2016, The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 – 02, Leases. The purpose of the update is to address transparency and improve reporting of obligations for entities involved in leasing activities. The impact of the new standard on lessors will be minimal, primarily...
For some reason, perhaps owing to its use in popular culture via soaps, tabloids, and movies, the word estate seems to be applied to the very rich. In fact, when you have a property and other valuables after you die, those make up your estate. This may include a...
Understanding the Impact on Revenue Recognition and Inventory Based on International Shipping Terms Does your company currently have international sales? Do you plan to begin selling merchandise in an international marketplace now or in the future? If the answer is yes, then having knowledge of when revenue is properly...
Can you read the tealeaves of your organization and predict what the future will hold? We may not be able to look into a crystal ball and know the next big fad in manufacturing; however, new technology is on the rise that will help manufacturers improve how they monitor...
Accounting methods used in the construction industry are unique and typically require a business owner to use two different methods of accounting for their construction activity – one for the bank or bonding company and one for tax filings.
4 Things To Know Before Starting a Business You have a great business idea and you have the money for capital. The combination is good but not quite enough to start a business. You have just as much to lose as you have to gain. Here are 4 things...
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