Accounting and bookkeeping together form the backbone for financial operations. However, it is no longer enough to continue focusing on hardcore accounting or bookkeeping chores; businesses are increasingly looking for additional value with the solutions they seek. According to an online survey, 72% of small business owners switched their CPA or accounting firm because they

Imagine doing business without the knowledge of whether the efforts and investment spent are of any use at all or not. Ratios are vital to business, to measure growth or any advancements from its starting point. Here are some ratios that are essential to a small business growing rapidly into a mid-size one: Efficiency Ratios

A metric is by itself a quantifiable measure used to assess a business process. Metrics are different across industries and roles: marketing metrics differ from sales metrics, in turn differing from those measuring consumer satisfaction, employee performance, etc. Business metrics are vital for any business from the standpoint of efficiency and performance. For any business

A CFO is indispensable when it comes to driving value and growth by supporting financial operations, budget compliance, and operations management while keeping costs controlled. Today, the CFO is emerging as a primary engineer of overall business success, not just financial success. While the key responsibility area of a CFO remains financial operations, it is

Audits are conducted for several reasons, one of them being to ensure that reports and financial statements conform to requirements. Audits also provide information on the business’s accounting and whether or not it is in order. Investors and other shareholders utilize audit information to understand the financial health of the business. Furthermore, the IRS may

Most decisions in a small business are often driven by the budget or additional money available to invest in the business. Hiring resources is no exception, and the decision to hire a CFO may be deferred on the grounds that it could be too expensive for a small business. However, not having access to a

A CFO’s role is that of a change agent who brings together the capabilities and resources of the business to ensure accountability in areas like performance, operations, etc. A second responsibility that rests with the CFO is that of the agent who brings together key data and information, including strategic plans with the help of

How strong a company’s finances are can be gauged from the balance sheet, which in turn is assessed on the strength of the company’s working capital, from among several other factors. Even then, it is among the concepts that can be difficult to define for a small business or a startup. This is because working

Your business’ budget can be divided into two: cash and operating budget. Your business’ cash budget will focus on expenses and revenue estimates. A cash budget usually has entries for cash transactions that took place, such as salary payments and vendor invoices. An operating budget is similar to the cash budget, only that it covers

Managing growth is often top of mind with business owners. Healthy business growth is crucial to the company’s long term sustainability. However, often times small to mid-sized business owners reach a plateau in their ability to drive new business due to both manpower and financial resources.  The challenge for businesses in this lifecycle stage becomes