Regular Internal Audit to Improve Profitability
- December 11, 2017
- Posted by: SosAdmin)
- Category: Accounting Services, Business plans, Economics, Finance & accounting, Funding trends
No CommentsIn the previous article we had demonstrated how having effective controls in for of Standard Operating Procedures (SOPs) help in controlling frauds and reducing losses. Once the effective controls are implemented in the business same has to be monitored through Internal Audits. Internal Audits are independent, objective consulting activities designed to evaluate and improve the
Effective Control in Purchase Stage to Prevent Frauds
- December 11, 2017
- Posted by: SosAdmin)
- Category: Accounting Services, Business plans, Economics, Finance & accounting, Funding trends
A company with many different processes may suffer from lack of control of the management. If there are no control mechanisms in place, then there are chances of frauds which may result in high losses for the company. A manufacturing company has typically a higher susceptibility to fraud as compared to other businesses. This is
Know Why Your Business Plan is Failing You?
- April 10, 2017
- Posted by: SosAdmin)
- Category: Business plans
Do you know 90% of startups or new ventures fail? There are reasons that could be attributable to the failure of a startup. But one of the reasons is lack of business plan that is flexible and that do not address the key challenges of business. Below are some of the things you can do
Ideas to Plug your Business Revenue Leakage
- January 26, 2016
- Posted by: SosAdmin)
- Category: Business plans
Do you know on an average a company loses 1% to 2% of its revenue on account of revenue leakage? Some of the reasons are below: No billing for the job done Billing less than the job done Outside warranty job not billed More discounts than authorized Bills not accounted Unauthorized Credit/Debit Note Some of
Is Your Business Facing Ups And Downs?
- January 14, 2016
- Posted by: SosAdmin)
- Category: Business plans
It’s very common for a business to undergo ups and downs. There are phases when business makes lots of money and times no money at all. The reason for it is pretty obvious, there is no predictable revenue system built in the business. Most of the business owners believe that customers will keep coming as
Why? When? & Whom? should be hired as CFO?
- December 18, 2015
- Posted by: SosAdmin)
- Category: Business plans
In any business Cash acts as Oxygen and it is ultimate necessity for life. For survival Oxygen has to be inhaled and has to be exhaled in form of carbon dioxide, just like in any business cash has to be inhaled (Inflow) and exhaled (Outflow). CFO is the person who manages Inflow & Outflow of