One of the things that small businesses – and often mid-sized ones too – don’t do well is bookkeeping, the source of all their financial reports. When money to (1) expand the sales and marketing team, or (2) add new products, or (3) pay bonuses to the owners, have to...
When it’s time to sell the business you’ve spent years building, and you want to be sure to take care of those long-time employees who helped you make it the success it has become, a really good path to consider is an Employee Stock Ownership Plan, or ESOP, in which...
I had an exciting experience this week! The founder/CEO of a company that we are helping to return to profitability after a COVID collapse asked me to help him learn how to read the Statement of Cash Flow, so he could better manage the relationship between net profit...
Call it leverage. Call it borrowing. Call it debt. All ways of saying that you got a loan to help your business grow (or, in 2020, to survive). This is not the free debt you get from delaying paying your bills, this is: go to the bank, ask for money, agree to pay...
I have thought often about the need to say something about cost accounting because of its importance in creating a profitable business, but I knew the mention of the term would put even most accountants to sleep. So rather than talk about cost accounting, a few words...
