Profit and Loss Management: 3 Ways to Do it Right

For a business to maintain operations, provide better services, and come up with new products, it needs to make profit. In any business, profit is always accompanied with certain losses. The key is to ensure that profit and loss management is done correctly to help businesses stay afloat and better yet,

4 Costly Financial Reporting Mistakes to Avoid

According to the annual review of the Financial Reporting Council (FRC), 37% of companies primarily composed of small-listed and AIM quoted companies are submitting poor quality reports. They reviewed 271 sets of reports and accounts from 2013 to March 31, 2014 and out of these reports, they needed to call the attention of 100 companies (the 37%) for further clarification. Those

4 Efficient Cash Management Tips for Start Up Companies

Your ability to properly manage cash in your business is a reflection of how stable your company is. Cash flow is the lifeblood of any business; it is an important means for you to keep the organization running. You use it to pay salaries, buy supplies from vendors, and build infrastructure. Startup companies that do not have the ability to properly handle their cash flow and reserves are almost

Why You Should Make the Switch to Cloud Accounting in 2016

If you’re still on the fence as far as cloud accounting is concerned, now is the time to change your position. 2015 promises to be the year the “cloud bursts” as Forbes.com’s Greg Satell predicts. This is because using the cloud in business will no longer be the exclusive domain of tech geeks and early adopters. If it’s any indication, consider the fact that cloud accounting grew into a $1.7 billion

5 Ways Customer Service Training Can Help the Finance and Accounting Team

The finance and accounting department typically focus on getting the numbers right, often at the expense of soft skills training. This is understandable, since properly crunching numbers is, of course, their utmost priority. These math professionals are hired because of their specialized skills and in return, receive commendations for their ability to fill out the books in an efficient manner, since nobody would want ledger books riddled with mistakes and careless oversights.
However, this doesn’t mean that customer service training should be overlooked entirely, as this is