Finance

When planning finances, it’s important to know the difference between a budget and a forecast. While both help manage money, they serve different purposes. A budget sets a financial plan with fixed targets, while a forecast gives you an updated prediction based on real-time data. Both are important tools for staying on top of your money. A PwC survey found that businesses using integrated budgeting… Read More »Budget vs Forecast: How They Shape Your Financial Future

If you manage business expenses, you may come across receipts for costs that could trigger a tax audit and penalties if submitted for a deduction. These are called non-deductible expenses, and it’s important to know them to avoid fraud and fines. Many individuals and businesses mistakenly assume that all expenses are deductible, but tax laws have specific rules on what qualifies. But not all expenses… Read More »Non-Deductible Expenses: What They Mean for Your Bottom Line

Knowing how to calculate variable costs is critical for managing your business’s finances. Unlike fixed costs that don’t change, variable costs rise or fall depending on how much you produce or sell. Recognizing these costs can help you make better pricing decisions and increase profits. What are Variable Costs? Variable costs are expenses that fluctuate according to production levels. For example, if you make more… Read More »What Is Variable Cost and How to Calculate It Effectively

Managing cash flow is one of the most important aspects of running a successful business. A study by U.S. Bank found that 82% of small businesses fail because of poor cash flow management. Understanding your cash flow metrics allows you to observe how money flows into and out of your firm, helping you to make more informed financial decisions. Cash flow management KPIs (Key Performance… Read More »Top 15 Cash Flow Metrics Every Business Should Track