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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...

The goal during the holiday season is to never have reason to panic. You have access at all times to your invoices and other accounting details. There is never a time where you feel at a loss because you can’t reach someone vital, and there is no set agreement on how to handle it. Create clear standards from the outset, and your holiday season will have far fewer bumps.

The IRS noted that it had received many comments on the regulations, most of which it addressed in issuing the rules. (The AICPA submitted a comment letter recommending various changes, described here.)

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.

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...

An A/R collections policy is an absolute must for any business that wants to operate efficiently. A strong policy will ensure continuity throughout the business, make sure that losses are minimized, and resources are allocated efficiently, and that customers are treated fairly and continue using the business’ services.

As great as it would be if all customers were honest customers and paid what they owe every time, every once in awhile, you’re bound to run into a bad egg or two. Writing off bad business debts may require changing your business accounting up quite a bit, but in the end, you will likely find it highly useful for balancing income and loss.

The Internal Revenue Service said it will be making changes to the filing requirements for corporate and partnership taxpayers with assets of between $10 million and $50 million in an effort to lighten the burden.

Survey of Chartered Global Management Accountants finds companies implementing hedging strategies, accelerating investments, forecasting lower demand in anticipation of higher rates.

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...