Understanding Profit and Loss Report Firstly, a profit and loss account is called other names; income statement, earnings statement, revenue statement, or an operating statement. Every public company must release the profit and loss statement along with the cash-flow statement and balance sheet annually. In the profit and loss account, you’ll find the revenues, expenses [...]
Small Business Financial Budgeting & Planning Small Business Financial Budgeting & Planning Businesses need a budget. The size of the business is irrelevant as to the determination of the need for a budget. It is expected that as a small business owner, your cash flow keeps you awake in the middle of the night, [...]
Accrual Vs Cash Reporting Accrual Vs Cash Reporting Although accounting is important for a business, choosing a suitable accounting system is more important. That is why it is essential to know the pros and cons of the two commonly known accounting methods, accrual and the cash basis reporting accounting methods. The major difference between accrual [...]
Operating Profit Margin, What is it and Why it is Important Operating Profit Margin, What is it and Why it is Important In evaluating a business, investors and analysts rely on the operating profit margin. Being a key profitability ratio, it serves as an indicator of the efficiency of a company in managing its expenses. [...]
Depreciation Demystified For Small Business Owners. Depreciation Demystified For Small Business Owners. As a small business owner, there will be a need to invest in the purchase of equipment, machinery, operational vehicle and other forms of assets in the course of doing business. Of course, it will appear on your balance sheet as an asset, [...]
Accounting Software for Non-Accountants Accounting Software for Non-Accountants As a small business owner, you are the marketer, the human resource manager, the IT officer and even the secretary of your establishment. All these may be important for your business to grow but they do not compare to what keeps your business breathing, accounting. You are [...]
Emerging Trends in Fintech Emerging Trends in Fintech It is not a surprise that the banking and finance sector is also reaping the benefits of constantly evolving technology. And even now, Fintech is still an area that is yet to be discovered by many countries or is being just minutely explored. So yes, there are [...]
Use of Blockchain Technology for Small Businesses Anyone who is up to date with the current affairs knows a thing or two about Blockchain technology. It is one of the advancements that is rapidly changing the face of the financial sector. However, it generally has benefited multiple business sectors. And it can also be of [...]
Optimizing Finance and Accounting with Machine Learning Machine learning is one of the many advanced technologies that are making roots fast within the business industry. Small businesses are also catching up to the benefits that are provided by machine learning. Similar to many small business operations, accounting and finance can be greatly optimized through this [...]
Using Digital/Voice Assistants for Small Business With rapid improvements in technology, life is moving quite fast into a more digitized era. A similar case can be acknowledged for the small business industry. Introduction of technology as intricate as it is for big business giants, the complexity and competition among small businesses have been intensifying. Therefore, [...]
