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.
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.
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...
In the freelance or small business world, late invoices are frustrating at the least and highly problematic at the worst. As a freelancer or small business owner, it’s essential to business that invoices are paid on time so that employees can be paid, bills will be on time, and so forth. Thus, implementing a process for charging late fees can deter customers from paying their invoices late.
With the emergence of Robot Process Automation (RPA), a slew of questions arise. What is the role of RPA? Can RPA help my small business? Will RPA automate the accounting process to the point that accountants are no longer needed, and people lose their jobs?
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...
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...
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