Tag: Finacial Management

Debt Management Strategies for Small Business Owners

Running a small business comes with its own set of challenges and responsibilities. One crucial aspect that every small business owner must contend with is debt management. Debt management involves a series of strategies and practices aimed at effectively managing and reducing the debt burden of a business. In this article, we will delve into […]

What’s the difference between financial accounting and management accounting?

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company? As a business owner, managing director or CEO, there are […]

The Entrepreneurs Guide to Taxes and Stay on the Right Side of the IRS

As an entrepreneur, you know how to innovate. As an expert in your field, you’re driven, curious and tenacious. You know how to get the job done. But do those same qualities persist when it comes to your business accounting? While businesses fail for all sorts of reasons, poor accounting doesn’t have to be one […]

A strong strategy is the heart of your successful business

Businesses that have clear objectives or goals, robust accountability and a shared sense of purpose should always outperform those that just show up and go through the motions. Strategy lies at the heart of most successful businesses. To achieve this you need to resource and execute with a clear purpose. Few businesses have a strategic […]

How an accountant supports your business development

As your accountant, we won’t just look after the financial side of your business, we can also advise you on the strategic side of your company, including the importance of business development as vital part of your growth plan. Business development (BD) is what helps your company move from slow, organic growth to fast-paced, hypergrowth. […]

Cash is not profit and vice versa

The purpose of a business is to make money, and that means you need to know the difference between profit and cash flow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You can improve net profit only by changing the things that affect revenue and […]

The Importance of goodwill in your business

Goodwill in accounting refers to the intangible value that a company can hold, above and beyond the pure financial value of its assets. This covers areas like brand reputation, intellectual property, and both external and internal relationships. A business that can show its goodwill in the marketplace is actually worth more – both intangibly and […]

5 Benefits of Outsourcing Your Business Accounting

If you’re an entrepreneur, you know how important it is to manage your finances properly. But what many business owners struggle to figure out is whether or not they should hire in-house accounting or outsource staff to do their finances. We’ve been there, too. Making important decisions about the financial inner-workings of your hard-earned company […]