Understanding profit margins is the most critical component of healthy financial management.   For a product-oriented business, profit margin mainly focuses on goods and materials, and that can easily be quantifiable.   For a service-based business, it is a...

Is Budgeting a Waste of Time for Small and Medium Enterprises (SME)? There is a famous quote from TshOxenreider “The simplest definition of a budget is “telling your money where to go.” It is crucial for SMEs to estimate their income and expenses, and based on this...

  During the past several years, business management technology has evolved. Advancement in technology has simplified the processes of data capturing and has provided unlimited capacity and capability to analyze the data and use it for the management of businesses. To...

Sorry to say but some finance professionals speak an ambiguous language. If you ask them whether this project is feasible or not, they will tell you that they will have to use capital budgeting techniques. Moreover, if you ask what capital budgeting is, they will tell...

Many people ask what accounting reports they should review regularly. Generally, I believe, that you should review the following accounting reports and particular on focus areas mentioned below to keep your accounting records and operations streamlined Accounts...

Profitability of any organization depends upon getting higher revenues and lower costs than its competitors. No matter how big or small, new or developed, manufacturing or service, you can benefit from cutting everyday costs. However today I will concentrate on...

In today world, where manufacturing companies are looking to improve their bottom line, it is a must that they manufacture their products in an efficient and cost-effective manner. The point to focus here is that no matter how good your product may be if you can’t...

Many times, you have a unique idea that you think can be the next breakthrough in your industry, but you don’t know how to go about it. A few months down the road, you see somebody else doing business using your idea. All people are thinking and generating these ideas...

To err is the human and that's why the auditing profession exists. You cannot eliminate errors but you can materially reduce them. For any size of business, the prime goal is to ensure that your business grows and thrives to ultimate heights in order to achieve this...

    Fidel Castro once said, "I began revolution with 82 men. If I had to do it again, I do it with 10 or 15 and absolute faith. It does not matter how small you are if you have faith and plan of action."   I think this statement fits into our current...