book Keeping and cash flow Management

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Can you handle it? Strategies to maximize your business capital

It’s a reality that the vast majority of SMEs won’t be in a position to afford an experienced Chief Financial Officer – which means that hard-won sums of money may not be used to leverage profitable change and expansion in the way they should. So how is a fast-growth business going to make the best use of its capital and ensure that sums are rigorously protected? Or ensure that the right financial strategies are in place? SME Advisor reveals the blueprint that can supercharge...

Bookkeeping and Record Keeping Basics

Adapted from content excerpted from the American Express® OPEN Small Business NetworkProper bookkeeping is important to sustaining and expanding a business. Without it, you run the risk of hitting cash flow crunches, wasting money, and missing out on opportunities to expand. When you are devising or revising your bookkeeping routine, remember that the purpose of bookkeeping is to help you manage your business and to enable tax agencies to evaluate your business activity. As long as your...

10 Ways to Help Increase Your Cash Flow

As any small business owner knows, maintaining smooth cash flow requires juggling nearly every facet of a business, from staying on top of accounts receivable, to extending lines of credit, to managing inventory. The essence of successful cash flow management is regulating the money flowing in and out of your business. Increasing your cash flow reduces the amount of fixed capital that you need to support the given level of your business. An increased, consistent cash flow also creates a...

Cash Flow Triage

It's Monday morning and you don't have enough cash on hand to make Friday's payroll. What options do you have? Cash flow crunches affect every company. Ideally, you can weather these crises by accessing a line of credit or revolving loan you've already set up with your bank, or tapping into cash reserves you've put aside for such an occasion. But what can you do if you've failed to plan ahead? Here are some triage techniques to help get you through such an emergency: Factors Target unpaid...

Cash Flow Worksheet

The cash flow statement provides aggregate data regarding all cash inflows and outflows of a company. The cash flow is determined by looking at three components by which cash enters and leaves a company: core operations, investing and financing. It allows investors to understand how a company's operations are running, where its money is coming from, and how it is being spent. The cash flow statement is distinct from the income statement and balance sheet because it does not include the amount...

Income Statement Template

Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period. The income statement is important because it shows the profitability of a company during the time interval specified in its heading. The period of time that the statement covers is chosen by the business and can vary. This is intended to be a simple and...

Balance Sheet Template

Some describe the balance sheet as a "snapshot" of the company's financial position at a point (a moment or an instant) in time. For example, the amounts reported on a balance sheet dated December 31, 2012 reflect that instant when all the transactions through December 31 have been recorded. It summarizes the company's assets, liabilities and shareholders' equity at a specific point in time. The three balance sheet segments in the Excel file below give investors an idea as to what the company...

Basic Balance Sheet Template

Benefits: The balance sheet describes the financial position of a company at a specific point in time.A balance sheet may be prepared monthly, quarterly, or annually depending on the needs of management and external users.The statement of financial position, commonly referred to as the balance sheet, is an inventory of assets, liabilities, and equity at the end of the accounting period Assets are resources owned or controlled by an entity.Liabilities represent the claims of creditors on an...

General Journal Template

Provided By Potential.com, Content Partner for SME Knowledge UAE Benefits:The journal is a chronological (day-by-day) record of business transactions.At convenient intervals, the debit and credit amounts recorded in the journal are transferred (posted) to the accounts in the ledger.The updated ledger accounts, in turn, serve as the basis for preparing the company’s financial statements. FILEThe journal is a chronological (day-by-day) record of business transactions. At...

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Getting Financial Controls in Place

OBJECTIVE: Growing your business will require establishing a solid foundation of internal controls including accounting, auditing, purchasing and damage control planning. This session will give you an overview of what you need to prepare for. Cash flow Accounting Your accountant's role Check list of internal controls Audits Accounting controls Growth requires more disciplined controls Mission of internal controls Financial reporting by profit centers Frequency of reporting financial...

Accounting and Cash Flow

  OBJECTIVE: Before you start your business, you will need to learn how to keep score (basic accounting), and how to maintain cash in your bank account (cash flow control). This session explains both in simple terms, and the advantages of hiring an accountant before you start. Step One: Gain the knowledge Step Two: Select an accountant Methods of Accounting Cash Basis Method Accrual Method Keeping Separate Business Records Tax Liability Issues Income taxes Payroll taxes...

Alternatives for Capital Allocation

OBJECTIVE: The degree of your success through growth will depend on how good you are in making capital allocations from your retained earnings. This session will teach you how to financially analyze various acquisition opportunities....which to pursue and which to shun. What are retained earnings? How to calculate retained earnings Managing retained earnings Options for utilizing retained earnings Retain the cash Distribute to shareholders Reinvest the cash Buy back shares How to evaluate...

Financial Ratio Analysis

Provided by Potential.com, Content Partner for SME Knowledge UAE   This video is part of the Khalifa Fund training Program, a free online training program that supports and supplies SMEs with free seminars, funding opportunities and exposure! This video talks about analyzing and evaluating the company's financial health using the financial ratio analysis where the key ratios used to track the company's performance are: common size ratios, liquidity ratios, efficiency ratios and solvency...

Who should be involved in managing your financials?

Provided by Potential.com, Content Partner for SME Knowledge UAE The responsibility of SME business owners in managing their financials in coordination with a qualified finance team.