A balance sheet displays a company’s assets, liabilities, and owner’s equity at any given point in time. It provides a snapshot of what a company owns and owes as of the balance sheet date and the amount invested by its owners, so note that the owner’s equity isn’t equal to the company’s fair market value….
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What Are Assets in Accounting? Types & Examples
Assets are resources that you own, control, and expect to provide a future economic benefit. For example, cash is an asset because it can be used to pay for future expenses. Other common assets are equipment, buildings, and investments. Assets are classified based on three criteria: Current vs noncurrent: An asset can be classified based…
What Are Expenses in Accounting? Variable & Fixed Explained
An expense is a cost incurred by a business in its operations to produce revenues. Expenses in accounting can be either variable or fixed. A fixed expense doesn’t change with the level of usage or production, such as the rent paid for a building, whereas a variable expense changes with the production or the amount…
What Is Cold Calling? The Ultimate Small Business Guide
Cold calling is a traditional sales activity primarily used to create and qualify new sales opportunities. It allows you to solicit initial conversations with key decision-makers that result in an immediate answer regarding interest in learning more about your products and services. In this article, we explore the cold calling definition along with the goals,…
What a Revenue Operations Team Structure Is & How To Create One
A revenue operations (RevOps) team involves a department or business function composed of team members responsible for driving revenue into one group. Rather than treating each function as separate, a RevOps team combines resources, data, processes, and strategies into a single team structure to maximize profits. In this article, we explore what a revenue operations…
What Is Business Casual? Examples & Tips
Business casual is an “in-between” office dress code that’s less formal than business professional but still “business” enough to front-face with clients and executives. Think of it more as dressing down a business professional outfit—not dressing up a casual outfit. It’s inherently subjective, which is why many businesses choose to create a business casual dress…
What Is Self-insurance? A Guide for Small Businesses
Self-insurance, sometimes called self-funding, is when your business forgoes traditional insurance coverage and takes on all the financial risk by setting aside money to pay employees’ healthcare claims. Small businesses may consider this option for several reasons, including a lack of negotiating power, resistance by insurance companies to take on the risk of a small…
What Is B2B Sales? The Ultimate Guide to Business-to-Business Selling
Business-to-business (B2B) selling involves selling a product or service to another business. B2B selling often requires a lengthier sales process and a distinct set of consultative sales skills for reps engaged in this type of role. We’ll explain what B2B sales is in greater depth, provide common examples of B2B businesses, and explain some of…