Building and Maintaining Your Business Budget: The Essential Guide

Building and Maintaining Your Business Budget: The Essential Guide

Building and maintaining a solid business budget is a crucial aspect of running a successful small business or being an entrepreneur. It not only helps you stay organized and in control of your finances, but it also provides a roadmap for achieving your business...
P&L Management for Small Businesses

P&L Management for Small Businesses

P&L Management begins with understanding your financial statements, including the P&L statement. Most small business owners are pretty familiar with the P&L because it is required for bank loans and other financial transactions. The P&L clearly shows...
Financial Management – Critical Elements for Success

Financial Management – Critical Elements for Success

Financial management consists of critical elements for success. They include: Planning: take the time to plan out your early budget and strategic plan. These tools will be your guide for how to run an effective business or nonprofit. Without this necessary step, most...

Nonprofit Financial Policies

The Board of Directors have a fiduciary responsibility to the agency and its donors. All assets need to support the mission of the agency and ensure the donor’s intent. All boards should adopt this structure for ideal financial management. Policies will help to...

Budgeting

Budgeting: Budgets estimate both your revenue and expenses for the year. It is a quick snap of your financial goals and shows how you plan to allocate your resources. It is a powerful tool because most of your financial statements are compared to your budget (which...