Managing a Budget

Strategic risk management is not a complex idea. Strategic risk refers to corporate actions such as physical expansion, technological innovation and new market strategies and investments that...

We cannot solve today's problems with yesterdays way of thinking-Ephran Taylor.

A budget for a daycare playground helps prepare for unexpected costs and offers a clear picture of the project. With a budget, a daycare can petition for grant funding, since prospective donors...

Budget models are financial projections that allow companies to plan for future cash inflows and outflows. Companies will have an annual meeting to determine the budget and plan for the upcoming...

Writing an accounting ledger can seem tedious at first, but the process is fairly routine. The ledger or GL (general ledger) is known as the principal or chief book of accounts. Line items in the...

A financial report is meant to report, both internally and externally, the expenditures and receipts for an organization. Financial reports can be daily, weekly, monthly, quarterly and annually....

There are several different types of bonds. The type is generally dependent on the issuer and the use. The most common type of bond is the surety and indemnity bond. These bonds are primarily used...

Bonds are used by many entities as a way to raise funds quickly. Most municipalities issue bonds in order to pay for projects which need to be completed throughout the township or county. Surety...

You or your nonprofit agency wants to apply for a grant, but you are worried the grantor will reject, or limit your grant award. Here are some tips to help maximize your award.

Let's face it, many managers do not know how to manage a business at all. Often managers do not even understand the basic concept and goal of making money for a company. Some like to get caught...

Do you get lost in your business plan? You’ve decided to leave your job and start your dream business. Nonetheless, as you organize your business plan, you’re at a standstill purely because you...

Though a difficult task, conducting an audit is a necessity for organizations in highly regulated industries, as well as those that wish to make improvements to process productivity and...

If you're in business, you know that business is all about sales and marketing. Like anything else, measuring sales is the first step to making significant improvements, but what comes next? Gap...

Management accounting is the use of accounting data to assist the management team with information useful in the decision-making process. This makes decision making more of a scientific process...

Accounts payable is a critical portion of your financial records and can be subject to fraud without careful reconciliation and oversight. Strong accounts payable audit procedures can ensure the...

Every good business needs a strong financial plan. A financial plan helps a business determine and prepare for its future. A financial plan can also keep a business away from potential financial...

In recent year more people are looking online for an income. There are many different ways to do this. Once you have found your source of online income, you will then have to manage it. Here are a...

For parents, life can truly go by in a blur. It's kind of similar to Steve Martin on "Father of the Bride" only being able to see his little girl getting married! For the sake of our...

With over a decade experience as a Conference Service Director, I've gained a few tips on how to have a successful conference.

The first and most important goal of a business is survival, and that depends upon taking in more money in revenues than is going out through business expenses. Of course, bringing in sufficient...

Vending machines, when placed in the right location, can generate substantial revenue with minimal management. However, starting a vending machine business may be difficult, especially when it...

A home health business provides qualified personnel to assist people, mostly the aging to maintain independent living at home. With our population projected to be made up of one third of people...

Management accounting is an internal business function that includes the recording and reporting of a company's financial transactions. The accounting department also supports management in...

If you are starting your own business or looking to expand, you may be wondering what sources of funding are available. Although traditional bank loans are an option, there are other opportunities...

Being conscious of how much you're spending is a smart way to manage your finances. When trying to determine how much bang you're getting for your buck, determining cost per square foot can...

Dividends are considered income by the IRS and can include a distribution of assets from stocks, property, or trusts. Most dividends are paid in cash and must therefore be entered like a cash...

If you wish to expand your business, you may need a large amount of money to pay the initial costs. Most business credit cards will only give you a nominal amount, which may only be enough to...

Organizations put together budgets to help plan for the future. A budget can be used as a tool to help achieve short-term and long-term goals. They also help an organization stay within the...

Layoffs are an inevitable part of the economic downturn. With decreased revenue, business owners are forced to reduce their workforce. Loosing employees is highly unpleasant – the side effects...

When planning your meeting, tradeshow, or convention, saving time and money are important things to consider when choosing the right city. Besides being the ultimate destination for leisure, Las...

Successful medical practices view their office as a business. While caring for health needs of your patients may require altruistic measures, profits are necessary for a medical practice to thrive...

It may be hard to teach children to save money in today's "see it, want it now" society, but it can be done. It just takes a little thought and patience. Here are some things I would...

Commercial contracts are contracts for the sale and purchase of goods or services. During negotiations, you should consider not only the terms but also the legal enforceability of the contract....

Depreciation is most useful in accounting for the loss in value for assets with a short or fixed service life. The matching principle, used in accrual accounting, is an accounting convention that...

If you take one bite into an apple and let it sit, over time, the bite mark will begin to brown. The browning effect is analogous to the term "depreciation". Depreciation is an accounting term...

Everyday, the financial news reveals one shocking number after another. If it is not the unemployment figures, it is the number of job cuts. If it is not the number of home mortgage defaulters, it...

You have developed a great business idea and have the enthusiasm necessary to see it through. But sadly you don't have the cash. Fortunately there are plenty of government grants and loans for...

A general ledger holds all the information about a company's transactions including checks and customer receipts. Your bank will create a record of these transactions as it processes documents...

Feedback provides organizations with opportunities to learn more about customer needs. Moreover, it creates common ground for both planning and implementation efforts. The more feedback customers...

A balance sheet is a financial statement that lists a business' assets, liabilities, and equity. Financial statements can be analyzed either vertically or horizontally. Horizontal analysis is...

Companies use short-term debt for a variety of reasons from contracting mechanisms to leverage to financing opportunities. While short-term debt does have a tendency to magnify the downsides of...

How many times you stuck in the middle of the project with no budget to move on? It seems that every PM have to deal with it. So, how can you avoid it? and yet, do the right thing for the...

Getting a line of credit for your business can help you to get your business off the ground. A line of credit can be more advantageous than a loan because you only have to pay interest on the...

Financial statements are important reports. They show how a business is doing and are very useful internally for a company's stockholders and to its board of directors, its managers and some...

Both new and established dry cleaning businesses require equipment. Dry cleaning equipment can be expensive and to help improve cash flow, business owners can look at their financing options. Some...

Most businesses maintain a petty cash account, in which a certain amount of money is stored for minimal expenditures that require immediate reimbursement. According to the Business Owner's...

When you have a credit card with a "0% APR," it means your annual percentage rate is zero, and you can save quite a bit of money by moving a high-interest balance to a card that doesn't charge...

Equipment rental or short-term leasing is a valuable tool for companies to meet short-term needs without committing large amounts of capital. Equipment dealers have been using this as an...

The purchasing or procurement process is one of the most important for any business, especially in lean economic times. Cost of goods sold is looked at by most bankers as the real cost of doing...

There are easier ways to budget than jotting down due dates and due amounts while managing your check register. Programs, by which anyone can draft a spreadsheet, have simplified the process of...