Financial Management

Master Financial Management: Tackling Complexity, Ensuring Success

May 13, 2024

Mastering Retained Earnings Calculations For Financial Reporting

Introduction Retained earnings are essential to a company’s financial statements and indicate business health.  They are profits a company holds onto for future use instead of paying out as dividends. They show a company’s ability to grow and reinvest in itself. Statistics have revealed that companies with high retained earnings tend to have higher growth […]

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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

Difference Between Accounts Receivable & Accounts Payable Management

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 Management? Let’s first understand, what are […]

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March 25, 2024

3 Reasons Why a Cashless Society is Inevitable?

Introduction Entering the 21st century, it’s hard to imagine that you can still conduct transactions without physical currency. That might not be the case in the future, though, as we move toward an era when traditional forms of exchange could become less common and businesses deal exclusively with digital transactions. A society without physical currency […]

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February 7, 2024

What Is Profit Planning, And Why Does It Matter?

Introduction Sometimes, you want your company to make a certain amount of money. To do this, you plan actions to reach that goal. This is called profit planning. It is beneficial, especially for architecture and engineering companies. Making a profit is important for any business. But many companies do not plan enough for how much […]

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February 2, 2024

Net 30: What Is It And How Does It Work?

Introduction Are you a business owner who is dealing with the complexities of payment terms, and trying to balance between cash flow and client satisfaction?   Imagine you’ve delivered top-notch products or services, but your invoices are met with delayed payments, impacting your business’s financial health.  Ever wondered how to overcome this situation? In business transactions, […]

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January 29, 2024

Understanding The Different Client Billing Methods

Introduction Are you looking for a billing method that suits your business?  Many businesses face challenges in understanding and implementing effective client billing methods.  According to a recent survey by the National Business Association, 65% of businesses encounter issues related to client billing. This impacts their cash flow and hinders business growth.  Thus, we have […]

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