Understanding your company’s operating cash flow is the key to improving long-term financial health. According to Business Insider, 82% of businesses fail because of poor cash flow management or a poor understanding of the importance of cash flow. While this statistic...
Hiring new accounting professionals may not be feasible for small businesses, especially those that are cutting on costs. Instead of hiring someone to work on basic financial requirements, small business owners can employ a number of accounting software systems to...
New businesses that generate recurring monthly income use the Rule of 78 to estimate how much revenue they will have by the end of the full calendar year. It sets a healthy monthly target for each salesperson to ensure that the company achieves its financial goals....
Last Updated Jan 3, 2021 | Published on Dec 13, 2020 | Accounting, Marketing
Chief Marketing Officers (CMOs) and their subordinates have a responsibility to measure the projected income and expenses of their marketing campaigns before executing them. They need to fully understand the financial impact a promotional activity is going to make so...
Last Updated Jan 3, 2021 | Published on Dec 9, 2020 | Accounting
People may assume that accounting is just one generalized practice, but there are actually a number of areas that accounting professionals can specialize in. Some may be experts on taxes or work for the government. Others may prefer accounting for nonprofits, or...
Small and large businesses have two things in common: they collect money from earnings and they spend that money on operational expenses or to pay off debts. Bookkeepers are responsible for tracking this inflow and outflow of cash to ensure that a company’s books are...
