April 20, 2022
Charles Lutwidge
What is a Master Budget and why is it important?
The master budget is a collective concept that includes all other business budgets, allowing you to consider the company’s financial situation from all sides. The master budget consists of the cash for staff salaries, marketing, production, and other company departments,...
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April 18, 2022
Charles Lutwidge
Cash Flow Problems Facing Small Businesses and How to Solve Them
Positive cash flow is vital for a thriving business. And still, many companies fail to secure a positive cash flow. In this article, we will take a look at the reasons causing issues and potential solutions to improve the situation....
April 15, 2022
Charles Lutwidge
What Is Payroll Fraud
Payroll fraud is damaging for any business, let alone a small company. It’s critical to spend time on detecting and preventing fraud. The very first step is to figure out what types of payroll fraud exist. After detecting payroll fraud...
April 14, 2022
Charles Lutwidge
How to Create a Business Budget for Your Small Business
Creating a business budget for a company is a tricky task. Some companies avoid the idea of creating business plans, and that’s a big mistake. Check out the article to learn about the importance of budgeting. You will also learn...
April 11, 2022
Charles Lutwidge
Book Balance Definition
The bank balance is the balance a bank reports on the company’s bank account at the end of the month. And the book balance is the internal general ledger record of that mentioned account. But what is the difference between...
April 08, 2022
Charles Lutwidge
What is Predetermined Overhead Rate
If you have a company related to manufacturing, or you work as an accountant for such a business, it’s essential to calculate and monitor the predetermined overhead rate. This rate helps monitor expenses to produce goods or provide services while...
April 06, 2022
Charles Lutwidge
Guide on How To Calculate Overtime Pay
Operating a business means spending a lot of time calculating employees’ salaries or wages. The task becomes even more complicated if employees work overtime since extra work is paid differently. Calculating overtime depends on different factors, such as the state,...
April 04, 2022
Charles Lutwidge
Budget vs. Forecast: What’s the Difference?
Both a budget and a forecast are financial tools. Companies use these tools to plan their growth, income, expenses. These tools are vital to companies as they help the management in decision-making. Budgeting and forecasting are similar, and some companies...
