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Retain Accountant's O Prepare Your Business Plan

835 Words4 Pages

Whether you have an established business in need of additional capital or are just starting out, you need to know about the benefits and limitations inherent in your financing options. The costs and risks involved in the first few years of operating a business may be frightening. Careful planning will help to reduce the risks. Facing realities about your financing needs and diligently preparing your business plan will help you to overcome the costs involved. The investment community is not willing to grant loans or invest in your business unless you provide them with something worthwhile to invest in. The following considerations and suggestions will help you to gain the trust of investors and meet your financial needs. o Retain Accountant's …show more content…

Your plan should provide potential investors with a comprehensive view of the structure and your conclusions about the it, a realistic operating plan that you intend to abide by, potential risks, the position the business can pretty safely expect to be in over the next six months and over the next year, and possible the comments about your hopes for further developments. In addition to providing investors with valuable information, your plan will cause you to focus your attention and force you to look at every opportunity and every risk that comes with it with a clear eye and a level head. Periodically updating your plan will help you to gauge your progress and enhance your ability to make realistic …show more content…

Remember that many young businesses operate for at least three years without any profit. Unless you start it with old money, you will need to explore the possibility of loans or raising money by selling partial ownership of it in equity offerings. While loans may allow you to retain ownership and control of the business, often, institutional lenders will be hesitant to help finance a new business. Accordingly, you may have to sell equity to meet its financing needs. Depending upon the uses, this may be through the sale of shares of stock, membership interests, or partnership interests. In selling equity, you and must exercise care so as to prevent giving control of the business to investors and to ensure compliance with federal and state regulations affecting such

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Organizations are establishing themselves in a new market to provide a needed service, increase customers and expand brand awareness. An organization’s growth strategy plays a vital role in the long-term sustainability of its healthcare system. Market penetration comes with the benefit of reaching additional customers in a business’s primary market and the potential to increase revenue. A marketing plan enables an organization to apply its values, mission, and capabilities to increase its sales, reach its objectives and sustain a competitive advantage with the purpose of improving its market shares (Cellucci, Wiggins & Farnsworth,2013). A company’s strategic plan will support and maintain its long-term growth objectives by building a solid

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Ensure that the property, plant and equipment exist and are genuine assets of the business and are beneficially owned by the business and any restrictions, pledges or liens on the property, plant and equipment are identified and adequately disclosed in the financial statements. At the same time, have to prepare fixed assets schedule as to attachment for this section. Test the mathematical accuracy, agree opening balances to prior period working papers and agree closing balances to the nominal ledger and investment ledger where maintained. Vouch against invoices, contract notes, and agreements for any additions or disposals in order to ensure that all property, plant and equipment are included in the balance sheet and gains or losses on realization of property, plant and equipment are correctly stated. In additions, ensure the property, plant and equipment are properly disclosed and

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917 Words | 4 Pages

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bpartners.com.au - Business Activity Statement (BAS) and How Can Bookkeeping Partners Help You? Australian businesses must file a business activity statement BAS at set intervals throughout the year. A BAS includes information on the various taxes that your company owes such as the pay as you go or PAYG payments, goods and services tax or GST, withholding tax and other required taxes. The record keeping for these taxes needs to be accurate or your company may face fines or penalties. Taxes are too complex today for the average company accountant or bookkeeper to navigate through in a proficient manner.

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