Accountants use financial statements for measuring and monitoring business performance, as evidence of a business’s value, and at tax time. The three most important financial statements are the balance sheet, income statement and statement of cash flow. The balance sheet is a snapshot of a business’s financial position at a point in time. The income […]
Given the demands on the time and financial resources of small business owners, often budgeting is an afterthought – if it’s done at all. However, if you don’t budget or somehow monitor your business’s finances, you are putting your savings, hard work and sacrifices at risk. You are abdicating control and allowing fate to dictate […]
Before hiring an accountant or bookkeeper, there are several things you should consider, including the services you require, benefits or result you seek, and experience of the person or firm providing the services. Follow this guide and, with a little luck, you’ll find the right accountant for your small business.
Understanding why lenders make it so difficult for small businesses to get financing can help business owners better prepare to navigate through the borrowing process and improve their chances of success. From a borrower’s perspective, lenders require too much information, which takes a lot of time and money to gather. The lenders, on the other […]