Small Business & Startups News, Tips & Advice
Back in the 1970s, fresh faced graduate Fred Smith founded a new delivery company called FedEx with $4 million of inheritance and $80 million in loans and investments. Just three years later, Smith’s fledgling company was floundering. With just $5,000 in the bank and a fuel bill totalling $24,000, the future wasn’t looking bright. So, […]
Summary: Lack of oversight, inefficient policy enforcement, not using data and analysis, and keeping processes manual are some reasons why expenses can be a drag on your organization’s finances. Employee-initiated expenses though are very necessary for the functioning of the firm, can be a huge drag on the company’s finances. One of the major reasons […]
Low initial costs and modernized procedures make countries in Asia attractive to entrepreneurs. A couple of new business registrations occurred in East Asian and Pacific nations as recorded by the World Bank. The Organization for Economic Cooperation and Development reports that new enterprise creations have been positively developed internationally. Profit in huge manufacturing conglomerate has plummeted […]
Accounting is a process through which the economic information of a company is identified, measured and communicated to the internal and external customers. It helps to identify the financial health of a company, which in turn facilitates to judge the performance of a company. So, it is very important to have a good accounting system, […]
Nowadays, international trade is becoming a common practice. Thanks to globalization, we see that countries can engage in transactional activities with each other. In this case, there is a need to record such activities in a country’s financial report. Consequently, there are two distinctive statements in the accounting system. These statements are called Balance of […]