Inflation has reared its ugly head over the last couple of years, and while it seems to have settled down a bit in 2023, forecasters are predicting 2024 will be…
Break-Even Analysis – What and Why?
Break-even is the point when income matches expenses. Knowing your break-even point shows how much revenue you need to equal and surpass expenses. To determine your break-even point, you need…
The Business Plan
A Business Plan is a thorough description of your business, your business goals, and your plans to achieve those goals. A Business Plan is the most important, yet most overlooked,…
What are Financial Statements and Why Do I Need Them? The Balance Sheet
Many business owners think the terms Income Statement and Financial Statement are interchangeable. The Income Statement is indeed one part of a Financial Statement package, but owners should know there…
Cash Basis vs. Accrual Basis Accounting
You may have heard the terms Cash Basis or Accrual Basis, and when you register your business with your state, you will likely be asked which method you plan to…
Starting a New Business
Starting a business can be one of the most exciting things you do in your life. You have a great idea and you have figured out a way to make…