In simple terms, accounting is the process of recording and summarizing transactions for the purpose of generating reports relevant to decision-making. Regardless of the business size, it is an important business function to ensure that all of the owners’ resources are used efficiently and effectively. Many certified public accountants (CPAs) and business executives define accounting…
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Lead Generation: A Guide for Small Business
Companies of all sizes use lead generation to ensure they are regularly attracting new potential buyers into their sales funnel. In this article, you’ll learn more about what lead generation is, proven strategies for small businesses, and which software tools will keep your sales pipeline consistently full of opportunities. What Is Lead Generation? Generating leads…
What Is a Profit and Loss (P&L) Statement? [+ Types & Uses]
The profit and loss (P&L) statement (also known as an income statement) is one of the four basic financial statements that presents the revenues, expenses, and net income of a business. In basic accounting, the P&L statement is always one of the first financial statements to be prepared. It measures the performance and profitability of…
Workforce Analytics: A Guide for Small Businesses
Workforce analytics is the data collection and analysis that businesses use to understand their people (i.e., employees, teams, etc.). It can help your business measure employee performance, engagement, behavior, retention, and overall return on investment (ROI) related to your workforce. With technology, it is easier than ever to gather and crunch big data, simplifying work…
How to Become a BBB Accredited Business in 3 Steps
The Better Business Bureau (BBB) is a private, nonprofit organization that offers accreditation to companies that meet its standards for trustworthiness and quality. To get BBB accredited, review the standards for accreditation, apply online, and pay the required fee once you’ve been approved. In this article, we explore how BBB accreditation works and how it…
What Is a CRM Dashboard? (+ Examples)
Customer relationship management (CRM) dashboards present a snapshot of sales activity, performance, goal progress, tasks, and pipeline health in a simple, centralized format. Sales managers use CRM dashboards to evaluate key performance indicators (KPIs) and other top priority data metrics in a sales operation—enabling them to optimize strategies based on these reports. This article explores…
What Is Mobile Device Management (MDM) & How it Works
Mobile device management (MDM) describes how companies manage the administration and security of mobile devices (cellphones, tablets, laptops, etc.) issued to employees. All businesses—especially smaller ones, due to the higher level of vulnerability—should establish a solid system that ensures reasonable control over all company hardware, software, and data. This should start from when the devices…
What Is a Cash Flow Statement in Accounting? (Examples & FAQs)
The cash flow statement in accounting is one of the four basic financial statements. It presents the cash inflows and outflows of a business’s operating, investing, and financing activities. Reviewing it can give you information about your cash flow as opposed to net income. Below is a cash flow statement example: The cash flow statement…