Category Archives: Strengthen Your Financials

What Is Your Business Return on Invested Capital?

Profit is used to drive growth, which is one aspect to your cash needs. But what are you going to do with the excess cash from your business? Your options include purchase assets, spend it on various expenses, hold it in an investment account, pay down debt, or give it back to the shareholders. Do you have a Return on Investment plan for your capital? Continue reading What Is Your Business Return on Invested Capital?

How to Manage Working Capital

One important topic on finance processes is knowing how to manage working capital. Working capital is the money it takes to run your business on a daily, weekly, and monthly basis. It is the money used to pay your suppliers for materials and the money needed to pay for the goods and services (i.e. inventory and payroll) you have used while you wait for your customers to pay you. Continue reading How to Manage Working Capital

How to Use Financial Strategies for Business Success

There were two things at the heart of the financial crises: the sub-prime home lending fiasco (with the bad loans then bundled into investment securities) and the use of credit default swaps that had organizations falling like dominoes once bad mortgage loans started taking some institutions down. How can you make sure your company succeeds? One way is using financial strategies for business success. Continue reading How to Use Financial Strategies for Business Success

Why Is an Effective Internal Control System Crucial for Success?

According to the Institute of Internal Auditors (IIA), an effective internal control system helps ensure that our organizational processes are functioning properly, that our financial information is reliable, and that we’re in compliance with applicable regulations. Businesses primarily implement an internal control system to protect themselves from internal fraud and abuse, while many do so with regulatory or standards compliance in mind. Continue reading Why Is an Effective Internal Control System Crucial for Success?

How to Write Accounts Receivable Procedures

Cash is everything to a business and you certainly would not want to burn up your cash. Learning to Write Accounts Receivable Procedure will help you to control your cash flow; now, let’s look for $250,000 from accounts receivable procedures. Continue reading How to Write Accounts Receivable Procedures

6 Tips for Success of Your First Entrepreneurial Project

Why Six Tips for Success of Your First Entrepreneurial Project. The majority of people start a business within the industry they’re already well-familiar with. The problem, however, lies in the fact that this gives them a lot of false confidence when it comes to running a new business startup. Continue reading 6 Tips for Success of Your First Entrepreneurial Project

Important Considerations for Novice Women Investors

As a woman, understanding how to invest is crucial for your future. Think about it – women tend to live longer than men. According to Scientific American, “Women outlive men by around five to seven years.” This means that by age 85, there are about six women to every four men. And yet, according to the Transamerica Center for Retirement Studies, over 45% of women aren’t too confident or aren’t confident at all when it comes to their retirement savings. Compare this to 35% of men who aren’t confident. It’s important to NOT be a Novice Women Investor. Continue reading Important Considerations for Novice Women Investors

What Are The Reports and Financial Statements Prepared by Accountants?

Generally, one of the most important users of financial statements in the USA is the Internal Revenue Service (IRS), followed by various state and local taxing authorities. Required income tax returns can be prepared more easily from financial reports that are classified in a comparable manner. A tax practitioner is usually retained to prepare and file these returns. The reports most commonly requested of the company are the general ledger and related financial statements. What are reports of financial statements? Continue reading What Are The Reports and Financial Statements Prepared by Accountants?

How to Write an Accounts Payable Procedures Manual

Accounts payable is the event that pays for the liability incurred by the purchasing process, which is for supplier purchases or  inventory required by manufacturing to meet customer demand. Sales generates the demand that created the accounts receivables, which is turned into cash. How do you write accounts payable procedure manual to support the purchasing policies and procedures manual, to disburse the cash? Continue reading How to Write an Accounts Payable Procedures Manual