business

Learn how to prevent and manage stockouts in your business. Discover the causes of stockouts, their consequences, and effective prevention and management strategies. Plus, explore how technology can help in preventing and managing stockouts.

This artilce provides an overview of the difference between capital expenditure and revenue expenditure. Learn about the key differences between these two types of expenditures, including the impact on cash flow, tax implications, and more. Get the facts and make informed decisions about your business finances.

Understand standard cost in accounting: definition, importance, components, calculation methods, advantages, challenges, variance analysis, and decision-making role.

John had poured his heart an soul into his small bakery, but is facing dwindling sales. He can’t bring in customers or enough money to stay afloat. It’s a difficult decision, but when profits don’t come despite strategies, that’s a big sign. Market shifts can also be a factor. If the business can’t keep up, it might […]

For companies to be successful, many things come into play. But, there’s one thing that’s key. Without it, all other efforts could be wasted: effective leadership! For leaders direct a business to victory, they need to have a clear vision and make sure everyone knows it. This brings clarity and purpose to the company. What […]

Business control is all about managing and regulating activities within a company. It’s about monitoring, assessing, and ensuring organizational goals are met. Control mechanisms help maintain consistency, reduce risks, and optimize performance. Financial management is key. This involves keeping and eye on money coming in and going out, budgeting, predicting trends, and abiding by accounting […]

Policies and procedures form the backbone of your organization. They are both similar and different, but they serve a similar purpose: to establish guidelines for what employees should do in specific situations. But there’s more to creating good policies and procedures than just copying and pasting from another company’s template! This article will explain how […]

If you are in business long enough you will learn a few things about running a business.

Giving your customers credit is like lending them cash. Internal control should include credit policy and processes just like it covers how cash is handled.