Cash flow is the incoming and outgoing cash from any business and represents the company’s operating activities. Every entrepreneur and small business owner instinctively knows that cash flow management is critical to keep their business successful. Many startups fail because they don’t have a healthy cash flow.
The role of an accountant has evolved over the years, a couple of decades ago they would only be seen during tax season and disappear after that. Now businesses in Toronto and across Canada, both small and medium, look for much more in an accountant or a bookkeeping company.
We all know how crucial yet exhausting it is to file taxes each year on time. No one wants to do it!
Bookkeeping is often seen as tedious and boring. Most entrepreneurs do not enjoy bookkeeping but know it is an essential part of their business. Adopting some good bookkeeping habits can help your business in the long run.
There are some mistakes that entrepreneurs make when they project the future of their company with financial outlook. These types of mistakes can create confusion and mislead investors but worst of all they can delude the entrepreneurs themselves.
The Canadian marijuana industry is one that is currently booming and hence receiving global attention. However, according to accounting experts, the industry has many accounting issues that its companies are not efficiently combating.