Business Category: Strengthen Your Financials


Using a Balanced Scorecard

Must all segments of your business operate effectively for your business to be truly successful? Some businesses survive in spite of poor performance in some segment(s) that are being carried by the performance of another segment. In other words, when one segment is not productive, other segments must be even more productive to compensate for it. Continue reading…

What Is the Revenue Cycle?

The proper identification and acceptance of all sales are an important element of internal control for a company’s income statement. It represents the primary source of most companies operational cash flow and therefore needs to be protected, managed and monitored using financial internal controls. The following Accounting Revenue Cycle Procedures should be utilized to account for and recognize all sales income of the company. Continue reading…

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…

How to Use Financial Strategies for Business Success

We had been told repeatedly that 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 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…

What Are Reports of Financial Statements?

Generally, one of the most important users 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…

How to Strengthen Your Financial Procedures

Strengthen compliance, enhance performance, or speed the development of your financial procedures. Are you still trying to build an internal control system to help you comply with Sarbanes-Oxley (SOX) and other financial regulations? Bizmanualz Finance Policies and Procedures Manual – can provide a big boost in meeting regulatory requirements. Continue reading…

How Do You 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…

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 know how Return on Investment plays a role? Continue reading…