The Four Financial Statements

Posted on Posted in Administrative Tips, Business Tips

Businesses report information in the form of financial statements issued on a periodic basis. GAAP requires the following four financial statements: Balance Sheet – statement of financial position at a given point in time. Income Statement – revenues minus expenses for a given time period ending at a specified date. Statement of Owner’s Equity – […]

Breathe new life into your business

Posted on Posted in Business Tips

You wouldn’t be an entrepreneur if you didn’t have vision, were afraid to take risks or prepared to let things stay the way they are. So why start now? The world may be in economic crisis, but one man’s problem is another man’s opportunity. Whether business booming or you’re feeling the pinch just like everyone […]

Basics of Buying a Business

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Buying an existing business can be a much less risky and more quickly profitable venture than starting your own business from scratch. But it’s not entirely risk free and your success will depend heavily on how wisely you choose and evaluate the business you buy. Here are the "tires to kick" as you begin investigating […]

Tips on Curbing Corporate Fraud

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1.    Assess risk. Identify what activities are outsourced, moved between different groups, and transferred across borders, and which activities are performed by the board of directors, top managers, employees, suppliers, customers, competitors and external contractors. Recognizing risk spots determines where prevention and detection mechanisms should be placed. 2.    Assess corporate culture. Identify the ethical tone […]

Why Hire a Virtual Assistant?

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The most obvious reason why anyone would hire anyone is efficiency. Let’s pretend that I like being a software engineer and I’m good at it. People in Silicon Valley would easily paid $100 and hour for this. Let’s also say that I’m really bad at changing the oil in my car and mowing my lawn […]

How to be a better employee?

Posted on Posted in Business Tips, Interesting, Quick Solutions

The interesting thing about hiring new employees, such as my situation,  is that you have to re-emphasis what you are looking for in your new hires. As an employer, you tend to take for granted certain things about long-standing employees.  For younger workers, there is a dual challenge of figuring out how to make yourself […]

What inflation truly means

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Inflation has become a permanent part of modern life. What does this mean to most people? * It means you have to work harder just to stay in one place. (Does that explain how you’ve been feeling?). * It means you can’t just save your money, you must find ways to grow it faster than […]