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“Plastic” has become a way of life. Those wallet-size credit cards are accepted all over the world in millions of stores for many millions of products and services. To be competitive, you too must offer credit to your customers. After all, your own business purchases are probably on credit.
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Watching Your Profit Checklist

Making a profit is the most important (some might say the only) objective of a business. Profit measures success. It can be defined simply: Revenues – Expenses = Profit. To increase profits you must raise revenues, lower expenses, or both. To make improvements in your company’s bottom line, you must know what’s really going on financially at all times. You have to watch every financial event without any kind of optimistic filter.
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Figuring Out How Your Business Rates: Financial Ratio Analysis
A balance sheet and the statement of income are essential business tools but they are only the starting point for successful financial management. A ratio analysis takes things much further by enabling the business owner/manager to spot trends in the business and to compare its performance and fiscal condition with the average performance of similar businesses in the same industry. When applied to a company’s financial statements, a ratio analysis helps analyze the success, failure, and progress of your business. In fact, ratio analysis may provide the all-important early warning indications that allow you to solve your business problems before your business is destroyed by them.
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Which Model Does Your Business Accounting Follow?
Accounting bookkeeping is often viewed with disdain. It is not uncommon to hear people refer to the process of record keeping as a “necessary evil.” More and more, people in business, industry and government speak of reducing the burden of maintaining detailed records, and simplifying complicated governmental records.
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If you’re a typical entrepreneur, money is not at the top of your list for reasons to run your own show. Most of us run our own business for other reasons such as controlling our own destiny, not wanting to answer to someone else, or taking pride in our work product.
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