Internal Control System

ICS: Internal Control Systems Explained

If you want to minimize the risks associated with organizational errors, damaging actions by senior employees or even just economic crime in your company, you do not want to leave anything to chance. An ICS - short for Internal Control System - establishes guidelines that enable the monitoring of operational processes. What does an ICS look like?

Constructive Criticism

How Companies Benefit from Constructive Criticism

Constructive criticism is important, and in the majority of companies, the concept is well-known on paper. Yet too few companies manage to use their errors to drive success. We provide an overview of what constructive criticism means and how it can be achieved in the workplace.

Corporate Governance

Corporate Governance: The Business Management Principles

Corporate Governance is a core topic of business management and has long since stopped being only relevant for market-listed corporations. What principles and objectives are behind the catchword? What legal requirements apply? And what relationship does governance have to compliance? We answer the most important questions regarding this topic.

What is call for tenders?

Call for tenders – How to search for procurement bids

When a US government authority or department procures services or goods, it is required to allow private contractors to bid on projects. This allows any interested company to submit an application to secure a project contract. The legislation ensures that there are no unfair competitive advantages and that state taxes for government projects are used economically. But what types of tenders exist...

Statement of work

Statement of work – the basis for an offer

When a company is interested in bidding for a public contract, it creates an invitation to tender based on a statement of work. This includes detailed information on the project’s goal and expected services. To make sure that the awarding entity receives suitable offers, a few points should be taken into account when creating a statement of work.

Just in time production

When is just-in-time production suitable?

Is it possible to improve economic success without raising product prices or lowering quality? Companies that optimize their value chain can do just that. Just-in-time production streamlines procurement and production, enabling significant savings. But careful: the strategy is not suitable for every company and every industry.

Booking contributions and withdrawals

How to book capital contributions and withdrawals correctly

If you want to use your company assets to strengthen company funds from your personal account, that isn’t a problem initially. However, you have to book these contributions and withdrawals correctly. It is important that these transactions do not affect the company’s profit or loss situation. Here’s what is important to make the right bookings.

Withdrawals

Withdrawals – made easy!

Withdrawing from company assets for personal use is a matter of course for many business owners. After all, they have to live off something. This process is known as a withdrawal and is not always straightforward when it comes to accounting and tax law. What do you need to consider, what kind of withdrawals are there and is it possible to do this in a limited company? We provide the answers.

Deferral

Deferral: When can you ask for payment deferment?

Is your company currently unable to meet its payment obligations or attend to its private contracts? In that case, a deferral is an option to delay payments whether you’re conducting business as an entrepreneur or a private individual. We’ll show you what conditions must be met for a deferred payment and what you need to look out for.

Capital contributions

Capital contributions – explained simply

As a business owner, it’s sometimes necessary to invest personal assets into your company. Whether it’s smaller purchases in everyday life – paying for gas at the gas station, for example – or larger sums if you’re trying to keep your company liquid. These are all known as capital contributions. We will provide a definition and explain what you need to keep in mind.

Grow Your Business

A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.


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