Financial Management

Master Financial Management: Tackling Complexity, Ensuring Success

January 2, 2025

Top 10 Financial Management Tools for CFOs

Financial management is particularly vital for small businesses since 61% rely on personal savings to meet their funding needs. The above statistics clearly depict how much of a requirement there is for financial management tools. Additionally, with the average loan under the SBA’s 7(a) program being approximately $479,685 in 2023, having robust financial management systems […]

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July 19, 2024

What Is A Phantom Tax & How Does It Work?

Introduction  There is an idea that many people and companies never anticipate within the taxation context – phantom tax. This uncommon term refers to gross income reported for taxation purposes but not followed by an actual cash flow.  In other words, income is recorded on the books but does not yet exist in cash. This […]

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June 10, 2024

10 Steps to Prepare a Cash Flow Statement

Introduction You have come to the correct spot if you are looking for information on creating a cash flow statement model. A cash flow statement mimics the flow of funds into and out of your business to give you a more realistic picture of your current financial situation and the possibility of future changes. Even […]

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May 31, 2024

Financial Management Tips For Consulting Firms

Introduction A company’s potential to grow and be profitable over the long run depends on its financial management. You must establish, manage, oversee, and monitor your financial resources to achieve your company’s goals. These eight suggestions help you reclaim control over your finances even though you may believe it difficult and perplexing. Financial management should […]

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May 22, 2024

Top Workflow Management Tools for Businesses

Introduction  Do you always feel mixed up trying to get your team on the same track? Or are you losing valuable time and resources because of messy processes? If so, no worries. You’re not alone – many businesses face these very challenges. According to a study, only 4 out of 10 employees feel their company […]

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April 29, 2024

Accounts Payable Process Improvement Ideas in 2025

Introduction Many businesses find it difficult to manage their expenses and payments. Too many unpaid bills or Accounts Payable can weigh a company down and eat its profits.  Studies show that almost 62% of a business’s profits can go towards paying off overdue bills that weren’t handled properly. And on average, 48% of businesses make […]

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April 18, 2024

Important Tips for Financial Management in a Business

Introduction We hope that you know the importance of finance in business! “A study by the U.S. Small Business Administration says 82% of businesses fail due to poor cash flow management or a lack of financial understanding.”  This startling statistic underscores just how critical financial management is to a business’s growth and survival. Finance is […]

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April 2, 2024

Accounts Receivable vs. Accounts Payable

Introduction Efficient records management in any small business is paramount as it ensures healthy cash flow. The accounts receivables and payables management records have a unique significance in the business world. Let’s dive into detailed information about Accounts Payable and Receivable Management and their importance. What is Accounts Payable? Let’s first understand, what are Accounts […]

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