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

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

5 Ways to Prepare Your Company for a Business Loan

Nowhere is this saying truer than when it comes to businesses. Businesses need money to start, grow and expand and they often need to shell out money first in order to make money, a stage where they turn to banks for help. Research suggests that 59% of business owners turn to banks for financing but only 27% get financing there, something that makes you wonder why less are approved for business

Explained: Management Accounting VS Financial Accounting

Accounting is an essential tool for any business. However, one must differentiate between financial and managerial accounting because they provide different types of information and serve different objectives. Below are the 5 ways that show how different they are.

What is the difference between financial accounting and managerial accounting?

End Users

External stakeholders, such as stockholders, lenders, financial analysts, and others from outside the company, are normally the ones who make use of the financial statements produced by financial

Accounts Payable vs Accounts Receivable: What’s the Difference?

When one thinks of how successful or unsuccessful a business is doing, it’s natural to lean towards the strategic elements of an organization that ensure profits come in: investments, funding decisions and risk management. While these elements are important, the success of a business, especially how it runs its day to day operations, is highly dependent on the effective management of operational cash