Business Management

A pro forma profit and loss statement, also known as a pro forma income statement, is a projection of a business' anticipated profitability. It is a management tool to help forecast a company's...

Obtaining grants for Non-Profit Art Programs can be a highly competitive endeavor. Various public and private institutions and benefactors set specific terms and conditions that must be met for...

Many people have causes that they care deeply about. Some people wonder how they can become more involved with their cause. The best way to get involved with a cause is to be involved in a non...

Every company is required to have an EIN number. EIN stands for Employer Identification Number, a nine-digit number given to any business that pays taxes. There are several ways to find a...

Maximizing shareholder wealth has to do with maximizing the value of a public company's common stock. A "common stock" of a company can be viewed at the website of the National Association of...

Calculating the economic profit of a business requires knowing the expenses and asking price for products and services. Subtract costs from price and you have profit. The cost of producing an item...

Small businesses struggle with finding their bottom line. "How much money did we make this year?" Simply finding the income is easy enough, but finding out the actual profit made is much harder....

Completing a thorough self-assessment is necessary for for-profit businesses and non-profit operations to properly expand their business and organizational structures. Strategic decision-making...

Worm farms may not necessarily be what comes to mind when you think of opening a profitable business, but many factors make a for-profit worm farm quite attractive. Most materials for a worm farm...

A board of directors can serve as members of a for-profit or a non-profit corporate board. Each board performs similar functions, but each type of board has particular facets that are unique to...

Gross profit margin is a financial analysis ratio that is used to measure and analyze a company's performance. Using a company's revenue and cost of goods sold, an analysis of product pricing can...

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 profit sharing plan is an employer funded incentive program where profit-based contributions are paid directly into individual employee accounts. A benefit once exclusive to only the largest...

The decision of how to price your product will make or break its acceptance by the marketplace. End-user pricing should drive your project management from the beginning, to ensure that your cost...

Nonprofit (or not-for-profit) organizations' sole purpose for existing is to serve a public or mutual benefit that excludes the pursuit or accumulation of profits. Non-profits work with a variety...

Have a small business or a home business and just can't seem to make ends meet? Just can not seem to get a handle on how to control the cash flow or expenses or prepare the necessary tax forms...

Whether you have been assigned with the task of writing an annual report for a non profit organization or you're contemplating writing an annual report for your own non profit organization, you...

The first step in starting a non-profit organization is to create a mission statement. This outlines the overall purpose of the organization. The mission statement should state why the...

Retailers all over the world are feeling the pinch of recession and looking for ways to significantly increase store revenue. Turning more profit at your retail location, however, is half 'how to...

Profit accounting procedures are similar to other types of accounting procedures. They depend upon verifying, recording, classifying and analyzing financial transactions that occur within an...

Accounting is the language of business. It is used for all sorts of managerial purposes. Businesses exist to generate revenue and net profit. Therefore, accounting is one of the single most...

Determining your gross profit can be simple when it is stated for you in black and white at the bottom of a paycheck, but when you are the business owner or the financial accountant and you are...

For-profit and non-profit organizations may have a board of directors. The primary difference between a non-profit and a for-profit board is that members of the for-profit board are often...

An income and expenditure account lists a company's sales and expenses during a period of time. A tally of this account measures a company's net income. Some income and expenditure accounts are...

What exactly is a margin? Margin is a percentage of the whole. In financial terms, the "whole" is total sales, and margin is used to refer to the amount of profit made. Financial analysts...

How successful a non profit organization meeting will be depends largely on the person who is in charge of preparing for it. Effective planning makes all the difference for a productive and timely...

The term commercial organization is general and applies to any group(s) with a particular set of skills, priorities, strategies, and resources that organize to collectively achieve the "specific...

Margins are important in the financial arena and in business. In general, the term margin means the difference between a product's (or service's) selling price and the cost of production stated...

Establishing a profit sharing plan can be done in different ways, and many types of profit sharing plans are possible. Knowing the basics of each type and how to go about establishing a plan will...

For small manufacturers, marginal profit is important, because it represents the amount of profit that would result from selling additional units. Find out how to increase marginal profit by...

In order to calculate gross profit, take the net sales and subtract the cost of sales. Find out how gross profit is essentially revenue minus the cost to produce that revenue help from two...

You've studied the market and identified your niche. Now that you've got a viable product or service and a successful business model, it's time to focus on how you intend to fund your business....

All businesses have a shared goal of generating profit. There is gross profit and net profit. Gross Profit, or profit from sales, is the revenue minus the cost of goods sold or cost of providing...

The Number 1 thing that you should get out of this article is how to look beyond the obvious for money to be added to the bottom line of any business.

Gross profit is a term used in accounting to describe the difference between money brought into the company (revenue) and the cost of making the product or providing the service that draws said...

Every business owner wants to understand how his business is performing. Sales success can be measured many different ways, but calculating gross profit is typically the most useful metric to measure.

Executive board members (often called the "board of directors" in for-profit ventures) have different roles in different organizations. Almost universally, they evaluate the chief executive...

In order to calculate operating profit margin, take the operating income before taxes and divide it by sales. Find out why operating profit margin may not be meaningful without comparisons with...

Profit and loss accounts and the transactions that affect them form the basis for income statements. Discover how to arrive at net income in profit and loss statements with help from a certified...

When preparing profit and loss statements, start with the revenue, the cost of goods sold, the cost of production and determine the gross margin. Find out how to arrive at a net income with help...

If you are a business owner and/or operate as an independent contractor, you are subject to the same tax laws as everyone else; however, the way you go about paying the government is a little...

Net operating profit represents the profitability of a company after accounting for cost of goods sold and operating expenses. Operating profit is an important measurement because it allows...

Creating an effective pro forma, regardless of its purpose, involves thought, evaluation and vision. Pro forma (Latin for "as a matter of form") can have somewhat different meanings depending on...

You need money that's why you do business. You need money and keep what you make for your future needs. You need money in order to stay competitive. As a business owner, one of your goals is to...

Non profit organizations are overseen by a board of directors whose decision-making is managed through committees. The goal of the committee is to focus efforts and break the work at hand into...

Accounting is important in business to provide a general overview of how the business is doing financially. Understanding accounting greatly helps the business owner make profitable decisions for...

Bidding on snow removal contracts is similar to bidding for any other type of contract. You are attempting to be the lowest cost bidder to provide a service for a set period of time or set number...

A grant writer is an expert is drafting grant applications and proposals. Many non-profit organizations seek grants from corporations, the government, wealthy individuals and charitable...

Pricing your remodeling services is simple, but sometimes it can be tricky to balance a fine line of what you need to charge in order to keep your business going and at the same time compete with...

Making a profit in any business can be difficult if the business is not handled properly. The handyman's business is no different. Simply knowing how to remodel or repair something isn't enough to...