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Key Risks to Consider Before an Internal Audit

The focus of Internal Audits (IA) is to diagnose the needs for compliance, risk management, and governance as it pertains to a companies purpose. IA has shifted from a team designed to provide assurance to a strategy group meant to meet the ever-changing landscape of business and technology.

April 1, 2020
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Important Differences Between Profit and Profitability

When running a small business, you come across a lot of jargon being tossed around. You may hear words like “profit” and “profitability” and mistake them to mean the same thing.

March 26, 2020
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Why Contribution Margin is an Important KPI
Why Contribution Margin is an Important KPI What is a KPI? Key Performance Indicators, or KPI’s as they are known in the business world, are critical to a business’s success. Key Performance Indicators are a critical indicator of progress toward an end result or goal in business. These KPI’s illustrate a business’s strengths and areas...
February 26, 2020
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Inventory Mistakes That Can Cost Your Business
Inventory Mistakes That Can Cost Your Business As a business owner, inventory is one most important aspects of your company. Without enough stock, you could have unhappy customers and lose business. If you have too much, you could lose money in storing your excess capital. If there is one area that causes companies to succeed...
February 19, 2020
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Accounting Indicators to Be Aware of When Scaling Your Business
Accounting Indicators to Be Aware of When Scaling Your Business Accounting Indicators to Be Aware of When Scaling Your Business Owning a business is no simple job. It requires many resources as your business grows but also requires a great amount of research and knowledge as you scale your business. Knowing what to look for...
February 12, 2020
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What’s the Difference Between Forecasting and Budgeting?
What’s the Difference Between Forecasting and Budgeting? No matter what type of business you’re running, budgeting and forecasting should be terms you know just as well as accounting. Both are crucial for the success of any business. While they both deal with your business financials, they are different in how you use them as a...
February 7, 2020
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What To Know About Switching From Contractors to Full-Time Employees

Not so long ago, independent contracting was a much more fringe form of employment, oftentimes reserved for seasonal and freelance work.

December 23, 2019
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How to Speed Up Collections of Accounts Receivable

One of the top killers of small businesses is anemic cash flow. If many or most of your sales are on credit, your P&L might look great, but if you aren’t collecting what you’re owed, you can soon find yourself unable to meet large critical disbursements like payroll, taxes, or supplier payments.

December 19, 2019
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What Does a CFO Do?

If you’re looking up the career ladder and considering future options, it’s good to have a detailed idea of manager-level and C-level jobs. What is the Chief Operating Officer’s primary function? What are the Marketing Managers’ top responsibilities? What does a Chief Financial Officer, or CFO, do all day?

December 16, 2019
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Restaurant Accounting 101: How to Keep Your Business Profitable

Running a restaurant is a big deal. From menu planning to customer service to ensuring your employees are well paid and happy, living life in the restauranteur lane can be stressful. Add accounting and monthly sales figures into the mix, and you’ve got a recipe for a meltdown.

December 13, 2019
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