Every business experiences occasional cash shortages. When this happens, owners often assume they should go out and sell more. But this strategy can sometimes compound money troubles over the short run. Why? The answer lies in a concept known as the “Cash Gap.” Understanding this concept can help your...
Employers frequently provide expense allowance accounts for their employees to incur business expenses on behalf of the company. An allowance arrangement does not require the employee to submit receipts in order for reimbursement. These are considered ‘unaccountable’ expense reimbursement plans and if they are used after 1/1/18, amounts paid...
In today’s environment, cemeteries can experience several changes in ownership over a relatively short amount of time. Acquiring any type of business is challenging and it can be difficult to obtain accurate financial data. The chance of data being lost or incomplete increases with each ownership change. If you...
There are various ways that business owners can save money on taxes. Knowing how can translate into an improved net income after taxes.
Many businesses strive to create employee oriented environments to improve employee engagement. Employee engagement can increase when employees enjoy coming into the office, so there is a good reason to be focused on our work environments. Unfortunately, no matter how much effort goes into improvement by owners, managers, and...
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...
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...
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...
Importance of Performing an Inventory of Fixed Assets Performing an inventory of your fixed assets is not something you probably think of doing each year. However, it is a good idea to make sure you have a firm understanding of what your company owns and how it is being...
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