Poor cash flow management or a lack of understanding of cash flow is often the reason for business failures. The top reason for small business failures is that they run out of money. Here, Statista shows that running out of cash is one of the reasons why startups fail. Without proper cash flow management, a
“Bookkeepers vs. CPAs, what’s the difference?” is quite a common question in the business landscape. Bookkeepers and Certified Public Accountants (CPAs) are essential professionals in the business landscape. Any established entrepreneur can attest that a good bookkeeper and CPA can make a world of difference in the business’s financial performance. However, one must remember that
Inventory Management has been a topic of much interest in business management discourse in the aftermath of the Covid-19 pandemic. With major supply chain delays and surging demand, businesses saw their inventory management functions struggle to cope with the sudden influx of demand with limited supply. A post-coronavirus 2020 survey by Statista on the matter
The world is being digitized at a rapid rate today. Projections by Forbes show a staggering 25% of jobs in North America shifting to the Work-From-Home (WFH) model. WFH model came into significant popularity after the Covid-19 pandemic. Thus, it appears that the future of many desk jobs such as accounting and IT will be
Let’s imagine some years into the future when we find ourselves having a similar conversation with a chatbot financial advisor: Chatbot: Good afternoon, how can I assist you today? Human Client: Hi Good morning, I was wondering if you could help me plan for my retirement. Chatbot: Of course, I’d be happy to help. Have
According to Statista, New York City is the second most ideal location to set up a start-up in 2022. Indeed, with a pro-business government and a flood of investments, NYC does seem to be a wonderful spot to establish the foundations of your business. However, entrepreneurs must not simply act based on one statistic! One
The Ultimate Guide to Real Estate Accounting In a prior publication titled “5 Bookkeeping Mistakes To Avoid In The Real Estate Industry!”, EA experts explained the common bookkeeping mistakes entrepreneurs make in the real estate sector. Following up on that train of thought, let’s discuss the broader subject of real estate accounting and everything it entails.
Trade promotion management leveraging staff augmentation services is a novel concept successfully implemented by Expertise Accelerated CEO Haroon Jafree – a Connecticut-based CPA – leveraging his decades of US CPG industry experience and niche expertise revolving around trade promotion management, business process reengineering, and cost optimization. Defining Trade Promotions Companies’ investment in price discounts, seasonal
Offshore accounting is becoming increasingly popular for businesses to cut costs and access skilled workers. A study found that about 40% of US companies outsource some accounting functions to other countries. What is Offshore Accounting? Offshore accounting is a professional service in which financial records and statements are managed and maintained by an accounting firm
Liabilities in accounting can be thought of as a company’s financial baggage. They represent debts or obligations that the company owes to others. Some liabilities are short-term while others are long-term. By understanding and managing their liabilities, companies can manage their load and move forward with a clear financial path. What Are Liabilities in Accounting?