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...

 

Guidelines for a proper balance sheet, clearly explained

Anyone who is required to prepare accounts needs to pay attention to the guidelines and principles that come with it, especially when it comes to balance sheets. We expect the data to be reliable, verifiable, and objective, as well as consistent and compatible. Knowing these objectives helps you to prepare accurate annual financial statement for your company. We explain what is meant by the...

Lean startup: reasons without risk?

Dropbox, Airbnb, Twitter – all these succesful companies have one thing in common: they became successful using the lean startup model. This method questions traditional business concepts and procedures, and instead promises greater flexibility and innovation. But what do lean startups mean for product development and company culture, and how can you benefit from these new ideas?

Earn-out when purchasing a company: guaranteed success or cause for conflict?

Buying a company is costly and risky. An earn-out clause in the contract reduces the risk for the buyer and creates a monetary incentive for the seller to support the new direction. This is because the earn-out promises a fluid, profit-oriented adjustment to the purchasing price in addition to the basic amount. However, this option has its pitfalls. If you want to use the earn-out model properly,...

What is inventory?

For many businesses, inventory management is their lifeblood; regular stocktaking is essential in order to ensure that you’re working with the correct figures for your accounts. We explain the subtleties of inventory counts, which inventory types and inventory procedures there are, and how to carry out the complex process as quickly as possible without encountering any problems.

Writing a quote: what you should consider when creating a quote

The profitability of many companies and freelancers depends primarily on the order situation. If you attract a customer’s attention with your products or services, and they send you a request, you should try to create a quote as quickly as possible and send it back to them. We explain what you need to include when writing a quote and the correct way to structure it.

Annual financial statements – an overview of the financial year

For publicly traded companies, annual financial statements are due at the end of the year. This report allows you to present your company’s financial situation to the public, answering questions like: How high is your balance sheet profit? What is the composition of income and expenses? What risks will investors be taking if they want to work with you? Drawing up an annual financial statement will...

Business plan software – the top picks for your business

Setting up a business involves a number of tasks and obligations. The development of a business plan, for example, is a must if you want to come across as professional to sponsors and other businesses. Business plan software, which is available both in free and paid versions, can help get you up and running.

Recording a cash discount: how does it work?

What does a cash discount accounting record look like? Many entrepreneurs ask themselves this very question. If you know how to record a cash discount, it's easy. At first, however, the subject can cause confusion: What about sales tax? Do I book the discount as a discount? Should I choose the gross or the net method? We get to the bottom of the most important questions and show an example of an...

Cash inflow and outflow, simply explained

As April 15 approaches, businesses are faced with a major challenge: They not only need to communicate their tax returns to the IRS, but also their previous year’s profits. Small businesses, self-employed individuals, and freelancers need to take the cash inflow and outflow principle into account when calculating their profit. But what exactly does this mean? This guide will help you through this...


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