Financial Management & Reporting

Proper financial management and its business implications

Provided By Potential.com, Content Partner for SME Knowledge UAE The term “financial management” refers to the science of money management, which entails planning for the future of a business enterprise, includes the administration and maintenance of financial resources at disposal, and covers the process of identifying and managing risks.   So how can you ameliorate the financial health of your business for sustainability and growth?   Develop your financial...

The Accountant: Your Trusted Financial Advisor

As a team member in a dynamic business environment, accountants take on a highly visible profile. Accountants have a simple and elegant tool for getting a fix on a company’s financial status; it is called the Accounting Equation. This equation states that Assets = Liabilities + Owner’s Equity. So how do you get these numbers to plug them into the Accounting Equation? They are derived from transactions. Let’s start by defining a transaction as an event that affects...

Preventing Employee Fraud

Embezzlement and other kinds of financial fraud are perhaps the most common kind of employee theft. Small businesses tend to fall prey to this swindle because they don't have the controls in place to prevent it. Use the tips below to help protect your business from unethical staff members. Keep duties separate No single employee should control a financial transaction from beginning to end. The person who writes your checks should never be the person who signs your checks. The person who opens...

Business Valuation Methods

There are a number of instances when you may need to determine the market value of a business. Certainly, buying and selling a business is the most common reason. Estate planning, reorganization, or verification of your worth for lenders or investors are other reasons. Valuing a company is hardly a precise science and can vary depending on the type of business and the reason for coming up with a valuation. There are a wide range of factors that go into the process -- from the book value to a...

Selling Your Business

OBJECTIVE: Selling your business is not a process you can turn over to your broker, lawyer or CPA, although you will need all their services. This session covers what you should know before selling your business. Deciding when to sell Selling your business is a process Careful planning is necessary Most common mistake is lack of preparation Accounting for past 5 years in place Include or exclude real estate? Recruit and pay for professional help The business broker Professional...

Saving: Rule of 72

Benefits: This worksheet is set up to be used to illustrate the “Rule of 72.” You can readily calculate how long it will take your money to double by dividing the number 72 by the interest rate. For example, at 2 percent interest, it will take approximately 36 years for invested money to double. But it will only take 9 years at an 8 percent rate of return.   This potential for greater rates of return illustrates the wisdom behind comparison shopping to obtain the highest...

Video resource

Learn to better manage the financials of your business by watching our interactive videos on these accounting and finance topics.   

Selling Your Business

OBJECTIVE: Selling your business is not a process you can turn over to your broker, lawyer or CPA, although you will need all their services. This session covers what you should know before selling your business. Deciding when to sell Selling your business is a process Careful planning is necessary Most common mistake is lack of preparation Accounting for past 5 years in place Include or exclude real estate? Recruit and pay for professional help The business broker Professional...

Getting Financial Controls in Place

OBJECTIVE: Growing your business will require establishing a solid foundation of internal controls including accounting, auditing, purchasing and damage control planning. This session will give you an overview of what you need to prepare for. Cash flow Accounting Your accountant's role Check list of internal controls Audits Accounting controls Growth requires more disciplined controls Mission of internal controls Financial reporting by profit centers Frequency of reporting financial...

Solvency Ratios Exercise

Provided by Potential.com, Content Partner for SME Knowledge UAE   This video shows an exercise on solvency ratios about calculating the debt to worth ratio, working capital and sales to working capital. For more videos, please visit our website http://www.potential.com This video is part of the Khalifa Fund training Program, a free online training program that supports and supplies SMEs with free seminars, funding opportunities and exposure! This video shows an exercise on...

Four basic elements for effective financial management

Provided by Potential.com, Content Partner for SME Knowledge UAE   Basic elements for effective financial management. This video explains the four basic elements for effective financial management: Budgeting & forecasting, bookkeeping, optimizing cash flow, reporting.   

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