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Category: "Finance and Accounting". View all posts.

Creating a financial budget takes time and effort for any business professional. There are many elements that go into the budgeting process, from formulating the objective, to defining priorities to researching costs. Even for financial professionals, so many variables in budgeting can cause things to fall through the cracks. If you’re not a financial pro, the risk is obviously greater and it’s not uncommon for people…


It’s that time of year when individuals and businesses grumble about the same thing: getting their taxes done. You have our best wishes when it comes to your individual tax situation, but since we’re a business training outfit, we will focus on the corporate side of taxes in this blog. If you’re a non-financial manager, it’s important to know certain tax terms when it comes…


  Accounting is the “universal language of business.” Regardless of your role or level within an organization, to communicate well with your boss, understanding that language is important. The accounting process is a system designed to record, classify, report and interpret financial data. Take the time to understand the language. Common accounting terms: Accrual method: Recognizes revenue at the point of sale and recognizes expenses…


If you’re like most professionals charged with the enormous responsibility of safeguarding your organization’s financial security, you already fully understand the importance of your role. Every day you strive to protect, control and maintain your organization’s financial health while doing everything you can think of to increase your levels of security and accountability. You understand that a solid internal control system is essential for sound…


Forecasting is the process of identifying what events are likely to happen in the future and to benefit from these events.” -American Institute of Certified Public Accountants Library—Definitions 2012 Every business needs to conduct forecasts. Forecasting is an essential part of any plan for the coming year or months. Decisions need to be made about quantities of raw materials, supplies or finished products to have…


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