tod 8391

tods5eshoes · Wysłany: Pią 8:22, 25 Mar 2011 Temat postu: tod 8391

Does Your Business Have A Plan? It Should by Edward Wielage
Some large companies spend over a billion dollars a year on accounting and financial analysis. These firms employ thousands across accounting, audit, finance, treasury and business development who��s core job function is to budget, plan and analyze numbers. These companies understand that this expense is an investment in information. An investment that will them enable to make more profitable business decisions and pay for itself many times over.
While these same principals hold true to businesses of all sizes, most small and medium sized businesses do not have a financial management system beyond basic accounting systems. Christian Harsh of Confluence Advisors (a Pittsburgh based middle market investment bank) said, ��The first thing I do on any new engagement is analyze the company's numbers, most could be doing a lot more to get a handle on their financial situation. ��
This is because for many small businesses the costs appear greater than the potential benefits. This article highlights the benefits of budgeting,[link widoczny dla zalogowanych], planning, performance measurement in addition to explaining why the total cost involved with implementing and maintaining a financial management system has declined significantly.
Why your company should implement a financial management process.
You need a plan to run your business. What good are last years numbers if you are not using them to get a better understanding of how you can increase the bottom line in the future? At the most b[link widoczny dla zalogowanych] level businesses should have a short term budget. This budget should serve as a financial roadmap to achieve your short term goals. Comparing results to the budget at the end of each period will help you identify the most important factors in improving your bottom line. Longer term planning (3-5 years) helps business owners make decisions with multi-year implications. Budgeting and planning using an integrated income statement, balance sheet and statement of cash flows help businesses determine cash implications and capital funding requirements for a given forecasts.
You need a plan to finance your business. Being able to effectively measure and articulate the financial position of your company can help you obtain more attractive financing options. This is true for a growth oriented business trying to find equity investors or say a restaurant attempting to secure a construction loan. Unfortunately many businesses find themselves putting these projections together after they determine they need to. When faced with a need to raise capital, companies who engage in financial management on a regular basis are able to focus on refining the data and telling the right story instead of building from scratch.
Why implementing a financial management system is less costly than ever.
For many small businesses hiring a finance department (or a dedicated person) for planning/ budgeting/ financial analysis is not and option. Even if the financial resources are available, finding someone with the right skills and knowledge of your business can be difficult. The good news is that your access to tools and resources that can help you with this process is greater than ever before. This will allow you to drastically improve your company��s financial management using your existing team (even if that is just you). Here is a short list of places to start.
? Software: There are many software products available for budgeting and planning. These range from enterprise solutions for large organizations all the way to stand alone spreadsheet software. A spreadsheet package like Excel may seem to be a cost effective option but building a 5 year plan in spreadsheet is can be very time consuming and complex.
? Search Engines and Wiki��s: Once you are in the process of setting up a budget or plan you will have questions. If you want to learn more about amortizing a loan or cost of capital just search for it on the internet. Investopedia (http: //www. investopedia. com) is a great resource dedicated specially to financial information.
? Academic Resources: Many universities and professors make coursework and research available for free online. Find a course of study and learn in a structured way but at your own pace and without paying for classes. There are also many organizations that create materials that cater to small business owners; one example is SmallBizU eLearning University (http: //www. smallbizu. org/a101/).
? Financial Professionals: Many financial professionals offer budgeting and planning services; these can be accounting firms or corporate finance consulting firms. However for you to truly extract valuable information from the budgeting and planning process it must be a collaborative effort.
There is nothing else to wait for. If the primary function of your financial analysis is to determine how much you own in taxes then you are not doing enough. Take the time to construct a basic budget and build your financial management process from there.
Earlier, the world was considered to be a humongous place. Due to lack of transportation, people used to take weeks to reach one destination. Now, the case has changed as the world has become a small place with various mediums of transportation that transport the travelers to their destined place in a matter of some hours. But to cut down on the time of travel, people tend to spend a large amount of money �C all thanks to the progress in financial forum. However, there are some service providers who offer discount airfare and even facilitate customers with hotel reservations and car rentals at an affordable price �C helping them to save a sum of money and even enjoy their trip.
Therefore, it is wise to take some time out and search for these service providers that ensure cheapest airfare and the best vacation rentals. Internet, being a small world with varied information on all the subjects, is the best place to learn about the big names in online travel reservations. There are many best discount airlines search tools that list an array of online travel planning and flight-booking sites that specialize in offering cheap plane tickets, lodging resort and car reservations. One of the best sites for the same is Travelagent2.
People who are very choosy will find this medium to be the ultimate as they will get to view all the routes offered by each airline. These sites also update the latest information in reference to the journey. Well, people can even make online reservations for their trip. In addition to a purchase of plane tickets online, the websites also help people in finding an ideal vacation package, making hotel and car reservations, and offering maps guidebooks, travel news, destination information, etc.
All that is expected from the people��s end is to finalize the place for a trip, and the planning with executing will be done by the online service providers. Moreover, these service providers do not concentrate on a particular region or territory; in fact, they target the worldwide market by offering all the countries. You name a nation and they will plan the perfect tour for you. They provide destination guides to easily find out where to go and how to plan the trip. Additionally, they will also inform people on a variety of attractions,[link widoczny dla zalogowanych], restaurants and hotels along with up-to-date weather,[link widoczny dla zalogowanych], health tips as well as general information.
In [link widoczny dla zalogowanych]ay��s world,[link widoczny dla zalogowanych], people feel that the improvement in economical sector is a matter of pride. They also feel proud to see diverse cultures and traditions that are followed by the human race. In order to bring the monetary factor and traveling options under one roof, the sites work towards effective travel guides. This is by keeping the willingness of traveling to varied places alive by offering discount travel that comes in different forms.
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