Business impact analysis

The business impact analysis

 

A BIA or business impact analysis emphasizes the most important processes of your company that could threaten your normal business operations in case of a deficit or outage. These processes allow you to evaluate the consequences of a crisis more effectively and devise strategies...

 

Creating a web store: the cornerstone of seed money

Seed money for your web store

 

When planning the finer details of your web store, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store....

 

Agile Working

Agile working: mastering the challenges of the digital world

 

“Agile working” is currently one of the biggest trends in the corporate world. It’s seen as the best way to master the challenges of digitalization. How does the agile approach work? What opportunities and risks does it involve? And what role will this hot topic play in the...

 

Start a sole proprietorship

How to start a sole proprietorship

 

A sole proprietorship is one of the easiest types of businesses to set up. All you need to get started is a business idea and a bit of courage. The one-person business does not require registration with the state, but there are plenty of other requirements you will need to...

 

Body language

Body language: The most important form of nonverbal communication

 

Even when we don’t say anything, we communicate: Our body language is more or less consciously sending out signals to those around us. Gestures, expressions, and posture often share more than we’d like, including how we feel in a given situation. If you’re able to understand body...

 

Home office tax deduction

How to deduct working from home from your taxes

 

Whether you’re self-employed or employed – a growing number of professionals are working from home and many even set up a dedicated space to perform their job duties. To reduce any resulting financial burden, the costs for working from home can be deducted from your taxes....

 

Supply and demand

Supply and demand – how they control the market

 

Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly...

 

Soft skills: definition and lists

Soft skills are all those skills that make you stand out as a worker, but seldom appear on certificates or help you achieve qualifications. Your soft skills are relevant to employers for lots of different reasons: How well can you work with people? How do you deal with stress? Here’s a list of soft skills that are useful in your job and tips on how to develop them.

Communication in the workplace: What should you pay attention to?

Good communication is one of the main pillars of productive work environments and this can only be created when colleagues talk to each other in a friendly, constructive way.A company can quickly become more successful than its competitors if everyone, from managing directors to interns, communicates properly with each other. But what does good effective communication in the workplace actually...

Job application follow-up e-mail: template and sample

If you have sent a job application, you will usually have to wait a while to hear back. When is it worth asking about the status of your application? Depending on the employer and the position’s closing date, it will be time sooner or later to send a follow-up e-mail after the application. We explain how this should be done and what needs to be considered.

CRM tools: software for customer care

Customer care is one of the corner stones of a successful company – whether you are running an online store or offering bank accounts. Even smaller companies can benefit from the use of CRM tools, which help to organize customer- or buyer data. These software systems automate and optimize the process of customer relationship management.

Trial Balance: everything you need to know about stock

A properly prepared trial balance is the key to accurate company valuations and is also the basis of your annual balance sheet. For this reason, it is very important that there are no errors. Your trial balance should consist of a list of all assets and liabilities. But what exactly is a trial balance? We will explain what you need to look out for and show you an example of what your trial balance...

Keeping a cash book: The basics of cash book accounting

For companies, there is no sweeter sound than when the cash drawer jingles. But the IRS requires a detailed listing of your operating revenue and expenditures at the end of each year. This includes cash transactions. A cash book will help you to keep track of your cash drawer. This guide explains how to properly keep a cash book and what benefits you can enjoy by using professional software.

Overhead costs

Would you like to judge the price of a product or service appropriately, but you don’t know its corresponding overhead costs? In contrast to direct costs, overheads such as factory rental costs cannot be directly assigned to a product or service. Instead, you must calculate the overhead rate to determine the appropriate percentage of overhead costs and, subsequently, the total expenses which...

What is a cash discount and how is it calculated?

The option to make use of a cash discount is an incentive for both customers as well as sellers to promptly pay an invoice. Offering a cash discount is not a requirement, but rather an act of goodwill on the part of the supplier or seller. The size of the cash discount and its deadline varies. In order to make use of a cash discount, it’s sometimes even advisable to take on credit with a bank...

What is Fair Value?

There is no doubting the fact that financial statements can be complex and hard to understand. At the core of an accurate statement are accurate values and figures. This is where fair value comes into play. Fair value accounting is of great importance when it comes to financial statements (balance sheets), the selling of assets, or transferring liabilities between two companies. For investors,...

Order confirmations: Write them perfectly with a template

If a customer accepts an offer that you’ve submitted, you should formally confirm the order. In theory, an oral communication is sufficient, but a written confirmation of the agreed services and conditions is much more serious and secure. With templates for Word, Excel, and others, you can create such order confirmations in just a few minutes.


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