Accounting

Business Budgeting – Thinking About Your Future

Most businesses are doing really good if they have their historical books up to date on a regular basis. Real-time accounting can get you very close to this reality, but it’s still historical information. Very few small to medium sized businesses have the time and expertise to ponder about the future and make regular budgeting and planning a reality.

Are your books real-time or redundant?

Does your financial information help you make daily decisions? Does your financial information give you meaningful insights to develop a clear plan for the future? Are you digging deeper than reviewing the reconciled cash balance and examining net income for business management and financial analysis?

What Accounting Reports Should You Be Looking At?

As a business owner, there are three statements that you should be looking at to assist you in analyzing your company (Income Statement, Balance Sheet, and Cash Flow Statement).

Separation of Duties

Separation, also know as segregation, of duties is an accounting concept of having more than one person required to complete a task. It is an important step to improve the internal control of a business’s assets.