If you’re using the accrual method of accounting, you’ll need to make sure that any revenue your business receives is recorded in accordance with the revenue recognition principle. This principle states that revenue should be recognized in the same period in which goods or services are provided.
In simpler terms, any...
CEOs and other leaders have increasingly been focused on building brand purpose. Companies such as SY Partners, BCG, and StrawberryFrog are specialized in helping companies define brand purpose. But, until now, there has not been an empirical study of purpose brands.
The Business Roundtable, with the signatures of 181 CEOs,...
In a world seemingly dominated by faceless online businesses with low prices, how much does your online reputation matter?
If you’re a small business owner, chances are that you’re intimately familiar with the concept of reputation. Most notably, people running brick-and-mortar businesses know exactly how much each customer’s opinion of their...
Like making money, managing expenses is part of being in business. In most cases, managing your expenses is a simple process since the majority of expenses incurred by small businesses usually consist of overhead expenses such as rent, office supplies, postage, and salaries.
But as your business grows and you...
Along with a run on Clorox wipes and a national obsession with Anthony Fauci, the coronavirus outbreak has triggered an identity crisis for high-yield savings accounts. Interest rates have fallen precipitously, and that has savers exploring other ways to maximize their money.
There are money market accounts, which are “like savings...
In the wake of George Floyd’s death, thousands of people across the country took to the streets to protest excessive police force and support the Black Lives Matter movement. While rallies and petitions are one way to make your voice heard, financial activism is another.
So far, 2020 has been unpredictable to say (the very) least. And it doesn’t look like the second half of the year or even 2021 can promise a return to normalcy.
With everything so up in the air, it can be hard to make any sort of plans, whether it...