So, you just received an email that you need to prepare for a board meeting, now what? This article provides an overview of the most common financial reports for board meetings. Here are some additional areas that should be addressed. Variance Analysis Rather than providing detailed tables with figures, it is recommended that you describe the business case reasons for the variances. For example, Revenues exceeded the budget...
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According to SBA What’s New With Small Business, there were 414,000 startups and 396,000 closures in 2015 (BDS). In Georgia, there are one million small businesses and the annual growth rate was 3.2% in the third quarter of 2017. Which was slightly slower than the 3.4% growth rate for the U.S (BEA). Most businesses fail within five years for financial reasons. According to a study by...
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Most people do not think of accounting as a high tech profession. However, there are several high tech trends that affect it. According to Forbes, there are 6 Accounting Trends of Tomorrow. Many companies have already capitalized on software that helps automate processes like going paperless and electronic workflows for approvals. As advancements continue to improve with artificial intelligence (AI) people worry about robots taking...
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As a small business owner, you wear so many hats. We understand it is difficult to keep up with boring tax laws so we summarized best practices into 7 steps based on an article Forbes published titled, 7 Easy Tax-Saving Tips for Small Business Owners. Hopefully, this article will provide you with valuable insight on how to save some money. Tax Software is your Friend You...
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