What is accounting? Accounting is pertinent to all business owners. It is the process of recording, summarizing, analyzing, interpreting and reporting the financial information of an organization. This financial information gathered is key to assist managers and executives to make business decisions. Importance of accounting Information derived from the process
There is a fine saying by Sun Tzu: “know yourself, and you will win all battles.” In the business context, I cannot think of a more tried and tested tool than the financial model which spurs entrepreneurs to stay constantly updated with a 360 degree understanding of their business. Do
Companies often ask “Do I need a CFO?” and if so, when do I need one. In many cases, they are too streamlined to hire an employee for the sole CFO role as such a start-up CFO is an alternative! A start-up CFO benefits your company greatly in many ways.
It is common for entrepreneurs or start-ups to find themselves unable to make progress in their business plans due to their financial situation. The internal accounting processes not being optimal, or the financial data collected and analysed being irrelevant may be some issues you are facing in your business operation.
In today’s environment, traditional companies are getting disrupted as the business environment gets more competitive. The pressure to drive productivity and cost savings has increased. It is thus critical for management teams to remain agile and focus on streamlining business processes as much as possible. In line with this development,
