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How To Understand A Balance Sheet For Small Businesses
home Balance sheets are a critical component of your small business’s financial records. While it’s not a lengthy document, a balance sheet is still a top way to gain insight into your company’s monetary advantages and disadvantages. Plus, it can give you and your virtual financial advisor a feel for where your business’s finances are […]
What Is A Financial Controller?
home We believe that all small and large businesses could benefit from financial management. Unfortunately, financial reporting, analysis, and strategizing can quickly overwhelm business owners. That’s precisely why many businesses decide to hire a financial controller. With a broader range of skills than an accountant, a financial controller can manage nearly all aspects of your […]
What Is The Difference Between IRR and ROI?
home You’ve stumbled upon a promising opportunity by investing in your business, but are you sure it’s a good expenditure? Whether it’s increasing your marketing efforts or hiring fresh employees, new investments are essential to evaluate— after all, you want to ensure your time and money are well spent. IRR and ROI are two critical […]
What Is A Business Contingency Plan?
home With any small business comes unforeseen risks and circumstances. It’s essential to be aware of potential hazards to your business’s security to protect it from disaster. While we don’t have to walk on thin ice all the time, contingency plans are a great way to place a safety net beneath your business and ease […]
What Is A Controller In Finance?
home At some point, all businesses face the daunting task of financial management. For some, financial planning, bookkeeping, and reporting come easily. For others, juggling finances can be a stressful challenge. Financial controllers play a key role in the success of many businesses. If you’ve ever wondered what a financial controller’s responsibilities are and how […]
What is the primary objective of financial reporting?
home Financial reporting is an essential part of your business’s long-term financial health. Frankly, no matter the business size, a company should always prioritize financial reporting because it mirrors its overall financial stability. Business owners, directors, and accountants use it to determine the strengths of a business. On the contrary, they also use it to […]
Outsource Your Bookkeeping: What Are Your Options?
home Whether you’re a spreadsheet master or financial statements make you shiver, every small business owner should consider bookkeeping services. Having an in-house bookkeeper or accountant is beneficial for large businesses, but this can be quite a hassle for small businesses. Employing a bookkeeper requires you to provide training, a salary, and regular check-ins. Small […]
What is a contingency plan and how do I create one?
home Preparing for disasters or unfortunate situations is crucial for a small business or start-up owner. Any business is susceptible to some risks. For instance, the COVID-19 pandemic was unprecedented, but “Plan B,” or a contingency plan aided many organizations in having quick responses and solutions to working from home or going virtual. The meaning […]
Cash Flow Management Strategies From An Accountant
home If you’re a small business owner, chances are you understand how frustrating finance management can be. It can feel like juggling a dozen blocks in your hands, waiting for them to tumble. As a seasoned accountant, I want to provide you with several cash flow management strategies you can implement today. Small business cash […]
What Is A Small Business Balance Sheet?
home Balance sheets are an essential component of every small business’s financial success and a key element of accounting. They help small business owners determine when is the best time to make significant company decisions and what the business needs to thrive. It’s important to implement balance sheet building because it’s a key part of […]
Controller vs. Bookkeeper: What’s the Difference?
home As a small business or start-up owner, the titles “Controller” and “Bookkeeper” are thrown around frequently and often, it seems, interchangeably. Understanding which type of accountant will most benefit a business’ current status is crucial to achieving future goals and answering the frequently asked question of “do I need a bookkeeper or a controller?” […]
What is an outsourced CFO, and when should I hire one?
home A chief financial officer is a crucial component of any small business or startup, as they play a key role in maximizing margins and ensuring all financial responsibilities are satisfied. While building and growing a small business, however, it is not always fiscally possible to employ an experienced, in-house CFO. Virtual CFOs and online […]