As a business owner, you need to manage all aspects of your business, including accurately accounting for various costs. Whether you’re using accounting software or recording expenses manually, one area where business owners may struggle is properly categorizing direct costs and indirect costs.
It comes at no surprise that most businesses are shifting to on-demand workforce to optimize costs, survive and thrive in a post-COVID-19 world. Although a contingent workforce existed for many years, very few businesses relied primarily on independent contractors and freelancers. Contract roles were mostly available either to highly skilled management consultants and...
For 13 years, Verizon has released its annual Verizon Business Data Breach Investigation Report, or DBIR, a comprehensive look at more than 150,000 incidents that gives business owners insight into trends in cyber attacks. As expected, the 2020 report took on more meaning: Unprecedented numbers of professionals are working from home,...
I once worked for someone who claimed he could tell everything about you by the trunk of your car. His trunk was the automotive equivalent of a zen garden: seemingly empty, yet stocked with everything from a mylar thermal blanket to a light-up sign you could place in the road in case of...
Setbacks are bound to happen at one time or another, rendering our businesses vulnerable. While they can be challenging and disorienting, they also present a powerful opportunity to bounce back, with newfound perspective and wisdom.
The coronavirus crisis has undoubtedly created a more challenging environment for any start-up, but this underlines just how important it is to have a plan in place to secure initial funding to get things off the ground.
Patrick Newton, founding partner at early-stage venture capital (VC) fund Form Ventures said...
Management accounting, also known as managerial or cost accounting, focuses on internal operations and uses operational metrics to help business owners and managers make informed business decisions.
This is done by addressing questions and concerns in specific areas of a business, rather than concentrating on past performance.