The cost of inventory can weigh heavily and have an adverse impact on the profitability and performance of a business, which is why economic order quantity (EOQ) is a formula that is well worth getting to grips with as it helps you identify the optimum amount of stock that should be ordered each time in…
No matter what language is used to describe you losing your job, it will always remain an uncertain and stressful time. It can be upsetting and worrying at the best of times, and it’s easy to let your mind run loose with all the negative possibilities of what’s going to happen next. However, learning the…
When it comes to employability and opening the door to as many opportunities as possible it is abundantly clear that displaying strong work ethics is one of the main attributes to develop if you want your career to enjoy an upward trajectory. Developing a reputation for being a worker who is dedicated, reliable, and disciplined…
Contingent liabilities are unfavorable possibilities that can occur in a company in the future. They’re not guaranteed to happen but, they could. Some of the more common liabilities include lawsuits, product recalls, government investigations and guarantors. But when you know how to read between the lines of a company’s accounting you are in a better…
The billionaire list keeps growing, with each year introducing new and fresh faces. It’s so competitive, that the youngest billionaire in the world changes monthly. Building up to the first billion is difficult, and requires a lot of smart financial decisions. This list is made up of the smartest young billionaires that took the world…
As a business owner, there are several terms that should be in your vocabulary. Assets and liabilities rank near the top, and will often appear together. To improve the financial health of your company, both of these terms need a full understanding. Before you dive head first into the intricacies of a balance sheet, learn…
Profitability ratio is one of many terms that every investor should know about. Learning the language and buzzwords of investing can be daunting, but is a necessary step for success. To get the most out of your portfolio, learn the most important terms of investing so that you’re not caught off-guard. 1. Asset Allocation A…
Starting a nonprofit is definitely no walk in the park and even though your ethos might be different when it comes to your reasons for starting the business and making it sustainable, there are definite rules of engagement to follow if you want your idea to succeed. One of the first things you will quickly…
The fundamental difference between cash basis accounting and accrual accounting is primarily about when expenses and revenue are introduced, with the cash method adopting a system where this income and expenditure is recognized immediately. Although this can be seen as the most obvious difference between the two accounting methods there are more subtle variations and…
Sole proprietorship taxes come with its own set of pros and cons. There are some situations where being a sole proprietor makes sense, but there are also times where the choice to incorporate is smarter. Finding a balance between the two will decide the long-term fate of a business. Sole Proprietorship A sole proprietor is…
