A balance sheet is also called the statement of financial position. It is amongst the three financial statements that are important, with the other two being the income statement and cash flow
Read MoreBusiness reports do not get the recognition they deserve. Used frequently and correctly, they can be indispensable tools for businesses. The root of the problem is that many business owners do not
Read MoreEnterprise resource planning or ERP is a business management software that focuses on the business processes aspect. ERP is used to manage day-to-day tasks and processes of businesses of every size.
Read MoreBookkeeping is the process of storing, managing and retrieving your business’s financial data. Bookkeeping includes all tasks related to recording and pulling out financial transaction information
Read MoreCash flow is the net amount that flows into your business and out of your business during a period. This period is usually a month, quarter, or year. Cash flows occur from three major sources;
Read MoreCash flow is the real cash that is available in your business. Negative cash flow is when your business is spending more than it is earning in a given period. For example, let us say your revenue was
Read MoreSmall business management is no easy feat. It requires hard work, smart work, time, dedication, patience, and skills. However, with a clear mind and determination to make your small business
Read MoreInventory management is an essential process in many different businesses ranging from retail sales to manufacturing industries. Good inventory management is crucial to the success of these businesses
Read MoreWarehousing is the storage of manufactured products or goods to be sold later. A warehouse is usually a space that is specifically designed for storage. It may be owned or rented by the manufacturer.
Read MoreAccounting is an essential part of running a business whether big or small. It is the process and method of recording, analysing, summarising, and extracting reports about the transactions
Read MoreEconomic order quantity or EOQ is used in cost accounting to calculate how much optimum inventory levels of a product should be maintained to prevent understocking and overstocking.
Read MoreLet us begin by exploring the zero based budgeting meaning. Zero based budgeting or ZBB is budgeting with a reset button as it starts with zero after every period. Every new budget that is created
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