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Taking costs out of a business can be deceptively easy to do — at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings. However, these savings are often not...
Paying your company debts is just as important as collecting your own accounts receivable and they need just as much management. The good thing is, you actually have a surprising amount of control over how and when your company’s debts are paid and that provides several advantages.
In today’s tough economy, the availability of business credit remains tight. Financial institutions are cautious and highly skeptical of new lending requests. In addition to increased scrutiny regarding new relationships, bankers are also increasingly turning their focus to existing customers. With little or no notice, lenders are closing business...
Social Security benefits are in the news as its funding and longevity has come into question. If you are depending on social security, you may need to look into other options to help fund your retirement and give you the lifestyle you’ve planned on.
One major concern for businesses is maintaining a healthy cash flow. Enterprises that successfully practice good cash management generally survive and prosper. Those that don’t are likely to be undone by the weight of increasing debt and the inability to pay employees and suppliers.
Segregating duties to prevent fraud and reduce weak controls is not always easy, especially when you have a small accounting department. However, there are some simple internal controls that are often over looked that you can put in place to eliminate some risk.
How will revenue recognition changes affect your organization? This question has been causing excitement, anxiety, and confusion across all industries – especially the construction industry.
Businesses and individuals are constantly faced with the question: How long should I keep my records and what records should I keep? For tax purposes, you need to find a middle ground for keeping tax and financial records. Here are some tips to help you figure out which records...
Does the supervisor of your mail room understand how the department makes money for the company? Does your administrative staff know how to increase the company’s bottom line? It’s easy for employees to begin to view their jobs narrowly, and forget that they may be able to contribute to...