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 23, 2024 | CFO
SUMMARY Successful entrepreneurs offer valuable financial lessons such as the importance of resilience, exemplified by Jack Ma’s persistence despite repeated failures. Understanding market and user needs, as highlighted by Sandi MacPherson’s experience, is...
by D. Maykl Muhammad | Jul 8, 2024 | CFO, Nonprofit
SUMMARY An ideal image to describe a business cooperative would depict a diverse group of individuals working together collaboratively. This could include people sitting around a table engaged in a discussion, working together on a project, or participating in a...
by D. Maykl Muhammad | Jul 6, 2024 | CFO
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...
by D. Maykl Muhammad | Jul 2, 2024 | CFO, Nonprofit
SUMMARY Conducting thorough financial reviews before onboarding or after the departure of a CEO, CFO, or Director is essential for maintaining financial integrity and ensuring a smooth leadership transition. These reviews help identify discrepancies, ensure compliance...
