Are you thinking of long-term success for your small business? Financial planning can help you achieve business objectives. Achieving long-term business success depends on good preparation, and the most important part of this preparation is an informed financial plan. This plan outlines a business’s short—and long-term financial goals and how to reach them. It is useful for company
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As an entrepreneur, you may want a cash basis in your accrual—the best of both worlds. Fortunately, this is possible because there is a third method of accounting called hybrid accounting. One of the main reasons many small businesses use hybrid accounting is to simplify their bookkeeping while still gaining insights from accrual accounting for larger
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How to Grow an Accounting Firm Despite the Ongoing Staffing Shortage. Are you as an accounting firm dealing with the increasing difficulty of finding enough staff? Hiring and keeping employees has become really hard, leading to a shortage of accountants across the industry. Several things are responsible for this issue. The accounting profession is growing
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Making a choice between in-house versus outsourced accounting is crucial. It can make a big difference on the firm’s financial stability and operational efficiency. Small business communities stand to gain significantly from this discussion, particularly in the context of shifting to a WFH model for roles that can easily adapt to it. Accounting is a
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CFOs and controllers are senior accounting roles that drive a business’s finance function. In 2024, the finance function will become one of the most relevant parts of a business. Interest rates are soaring, and the economy seems primed for an inevitable upset. If businesses are not prepared, they may face catastrophic damage should the worst
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How to Manage Trade Promotions: 5 Result-Driven Tips to Skyrocket Sales and ROI Effective trade promotions must deliver tangible outcomes to be truly effective. You might have had a good handle on your team’s trade promotion expenses last quarter, but do you know exactly what return on investment (ROI) those efforts brought in? According to Forrester,
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Have you ever thought of hiring a Fractional CFO for your small business? If you run a small business and can’t afford to pay high salaries for experienced CFOs, you still need someone crucial to guide your business to success and growth. So, Fractional CFO services may be the right answer for you! The fractional
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Many accounts dream of the day they can become a CFO. It is the height of the accounting profession, where you shape a business’ future and destiny with your own two hands. It is a prestigious role that only a few can achieve. Only accountants who have climbed the rocky hills of the accounting profession
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Increasing costs and tough competition leaving your Trade Promotion Management ineffective? Discover data-driven solutions to boost ROI and conquer market challenges. In the dynamic landscape of consumer packaged goods (CPG), trade promotion is a pivotal strategy for driving sales and enhancing brand visibility. However, amidst the ever-evolving market dynamics, traditional approaches to trade promotions often
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Inventory management is a crucial part of business management. 2024 is shaping up to be one of the worst economic years of the decade so far. Interest rates are soaring through the roof and businesses are panicking, trying to find ways to control costs. Survival is the order of the day. Rather than growth, maintaining