Commuting to offices each day was the norm in the past, and WFH used to be an exception. While WFH was somewhat prevalent in the IT industry in the pre-COVID era as well, it was absent in the accounting industry. However, the outbreak of the global pandemic in the form of COVID and the Great
When managing any business, there are a number of key variables to calculate and monitor Finance is a core pillar of the business that needs to be managed successfully. Usually, we see that finance is not an easy area for management. One way to manage your finance successfully is to perform a ratio analysis. If
Making a list of the 10 most profitable businesses for the year is a rather bold task, as many unpredictable variables may make some businesses less lucrative than others. Despite that, there are still trends and patterns that we can use to create a rough approximation of the most profitable businesses to start in 2023.
Mentoring plays an important role in helping small businesses grow. A good mentor can help you nurture and sustainably establish your business on a solid foundation. What is a small business in the US? Defining a small business is a highly subjective matter, but certain parameters can be considered when determining its size. In the
Real estate is a highly scalable business, and many have made fortunes out of it. An erstwhile janitor, Sean Conlon, for example, became a self-made millionaire through his success in the real estate sector. However, in order to gain an upward trajectory, it is imperative that mistakes are avoided, especially the very common ones, such
Profitability in the accounting genre is a residual – the income left after deducting all the expenses – which all profit-making entities, including the CPA firms, strive to achieve. However, in 2024, the fast and everchanging variables that affect it need to be considered, labor shortage and inflation being atop the list, stressing out the
The contemporary business environment has witnessed a drastic shift in the way we work. And even though remote work is not a novel concept, there was a massive transition from on-site to remote working during the pandemic. However, even as the dust has significantly settled and the social distancing measures relaxed, the tendency among the
The corporate industry has evolved tremendously throughout the years. Back then, all an accounting firm needed to get started was accountants just like an IT enterprise needed IT executives. However, with the advent of the internet and advancing business strategies, the corporate culture is now more competitive than ever. As of today, starting entrepreneurs need
Companies have historically pursued product differentiation and reducing costs amid high inflation as strategies to gain competitive success. Aneel Karnani conducted a research study in 1984 titled Generic Competitive Strategies—An Analytical Approach and found that a superior cost or differentiation position leads to a larger market share and, hence, higher profitability. The Prevailing Inflationary Spell
Accounting is often regarded as the “language of business”. It is a track record of expenses, investments, assets, and profits or debts of an enterprise. Accounting for start-up businesses aims to provide you with information about your enterprise to help you make well-informed decisions, run your business efficiently, maximize profits and reduce costs. Well-versed accountants