Advisor Success Stories: Reviving a Construction Contractor to Profitability
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5 Business Survival Strategies for a Challenging Economy
By Tom Wadelton Business survival is on everyone’s minds these days. The 2020s have so far been marked by unexpected events, twists and difficult turns. For many businesses, the financial whiplash has likely felt like enough to consider contacting a chiropractor. But not all businesses have been heavily burdened over the past few years. In fact, businesses that contacted their chiropractor and got their spine alignments [...]
What Banks require when extending credit to Companies.
Banks review company financial statements to comply with regulations and safeguard themselves from bad credits. So providing accurate, integrated reports is the key to obtaining requested funds. Unless the company is new and has no operating history, banks look at statements covering on average the last three years. In addition, lenders inspect projected financial statements covering the life of the loan to make sure businesses have [...]
How Is a Balance Sheet Used in Financial Planning & Management?
The balance sheet is an indispensable tool for businesses of all sizes. At a glance, the balance sheet provides a snapshot of the company's financial health. Arguably, the balance sheet is the most important of the three major financial statements, the other two being the income and cash flow statements. Learning how to read a balance sheet is the first essential step for any business owner. [...]
Small business advice: How to clean up your finances and keep your company in the black.
Running a small business is a very rewarding but often stressful experience for every entrepreneur. Keeping up with the company’s finances is a task that doesn’t always cross an owner’s mind when first forming the business, but often, it becomes a huge part of their everyday jobs.This demand can be greatly minimized by incorporating a few of these tips into your small company’s financial plan. Here’s [...]
88% of spreadsheets have errors
Microsoft Excel makes it easy for anyone to do the kind of number crunching once reserved for accountants and statisticians. But the world’s best-selling spreadsheet software has also contributed to the proliferation of bad math. Close to 90% of spreadsheet documents contain errors, a 2008 analysis of multiple studies suggests. “Spreadsheets, even after careful development, contain errors in 1% or more of all formula cells,” writes Ray [...]