by CFOE Team | Oct 5, 2024 | 101, Bookkeeping, CFO
SUMMARY: Accurate bookkeeping and accounting are essential for businesses to secure bank loans and investor financing, especially during economic shifts when financial scrutiny increases. Hiring a professional accountant ensures organized financial records, tax...
by CFOE Team | Sep 10, 2024 | Bookkeeping, CFO, Nonprofit
SUMMARYA bookkeeper handles day-to-day financial transactions, an accountant ensures compliance and produces reports, while a CFO provides strategic financial leadership in a nonprofit organization. A seasoned CFO understands the importance of all three roles,...
by D. Maykl Muhammad | Jul 25, 2024 | Bookkeeping, CFO
SUMMARY A budget outlines expected revenues and expenses over a specific period, guiding short-term financial management and ensuring operational stability. Financial projections estimate future financial performance, helping plan for long-term growth and secure...
by D. Maykl Muhammad | Jul 11, 2024 | Bookkeeping
SUMMARY Adopting cooperative principles can help grass-roots and social entrepreneurs create sustainable ventures by fostering community, shared resources, and equitable compensation. By pooling resources, offering modest stipends, and ensuring basic needs are met,...
by D. Maykl Muhammad | Jul 6, 2024 | Bookkeeping
SUMMARY A business owner using Amazon’s fulfillment services blamed increased fees for his company’s bankruptcy, highlighting that entrepreneurship is not for the faint-hearted. Leveraging Amazon’s vast logistics and customer reach can be beneficial...
by D. Maykl Muhammad | Jul 3, 2024 | Bookkeeping, CFO
SUMMARY When a partner exits a company, careful planning and consideration are crucial for a smooth transition. Key factors include a clear buyout agreement, accurate valuation of the partner’s interest, and assessing the financial impact on the company. Legal...
