The success of a business is often determined by its financial condition. Strategic elements that affect the profit and income such as risk management and investments are often considered in assessing the financial condition. Be that as it may, the financial success of any organization is conditional upon the effectiveness of cash flow management. This is ascertained by accounts payable
The accounting industry is in the midst of changes as it struggles to cope with the fallout of the global financial crisis. The crisis made a major impact on several businesses all over the world, causing them to reexamine their business processes and strategies. It has also made them look at their own accounting departments and take steps to update
In any business, a chief financial officer is a vital position. The responsibilities of a chief financial officer, also known as a CFO, have a tremendous impact on a company. Whether you’re looking to hire a CFO or revamp your existing CFO’s job description, having an understanding of their typical responsibilities can strengthen your company’s mandate.
Accounting services are always going to be something that small (and even medium to large) business owners need to consider. When you reach a certain level of success, you’ll need other individuals to help handle the financial tracking of your endeavours. Failing to do so could result in loss of profit, and in the worst-case scenario, complete business closure. There
In the era of going paperless, it’s easy to save your business’ financial statements, but how long must a company keep business records for?