Question: Why would a small business ever need an accounting system
Why would a small business ever need an accounting system more complicated than a simple checkbook register?
Answer to relevant QuestionsA budget is a collection of estimates – a big word that means the same thing as "guess!" If you are guessing what future results will be, what value can a budget really have? Why should you, as a business owner care about the distinction between costs and expenses? 1. What is causing Hal's cash flow problems? 2. Develop a plan to address the problems. Explain the differing financial management needs of a small business during the startup, growth, mature, and exit phases. Discuss the pros and cons of providing credit to customers. If you do decide to provide credit, what policies should you establish and enforce?
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