OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Small Business Planning 2016- Marketing Plan
January 21, 2016 by Ed Becker
Small Business Planning 2016- Marketing Plan In order to grow your business, you have to market your business. You need a strong marketing plan in place to follow as a playbook, and to ensure that you are sticking to the planned marketing budget. A marketing plan helps you understand your target market and your business’ […]
Small Business Planning for 2016
December 30, 2015 by Ed Becker
As the year is ending, both calendar and fiscal year, you should be or have been planning for the upcoming year for your business. Refining your business plan annually allows you to see where you’ve been, how far you’ve come and where you are going. It lets you see what has and hasn’t worked for […]
Small Business End of Year Tax Tips
December 4, 2015 by Ed Becker
Being near the end of the year it might seem like you can’t do anything to benefit your company for tax filing, but this isn’t always true. Even if you have not planned for your tax year in advanced in detail, you can still do many things that can benefit your filing. This discussion […]
Audit Risk vs. Business Risk
October 30, 2015 by Ed Becker
There is always a risk involved in an audit, because the auditor is giving an opinion. An audit risk is when the opinion is inappropriate on the financial statements. There is a model to calculate this risk, it is the multiplication of inherent risk, control risk and detection risk. Business risk, on the other […]
Financial Ratios: Explanations
October 19, 2015 by Jarred Berman
INTRODUCTION TO FINANCIAL RATIOS A sustainable business and mission requires effective planning and financial management. Ratio analysis is a useful management tool that will improve your understanding of financial results and trends over time, and provide key indicators of organizational performance. Managers will use ratio analysis to pinpoint strengths and weaknesses from which strategies and […]
Types of Audits
October 9, 2015 by Ed Becker
In our last article we discussed the external audit of financial statements. Today we will delve deeper into other types of audits and why they are all useful and an integral part of business. Some types of audits are more geared towards corporate businesses that have stakeholders and legal requirements to abide by; others […]
Auditing Financial Statements
October 2, 2015 by Ed Becker
An audit of financial statements by an external source allows users of the financial statements to have a professional, outside opinion regarding the truth and fairness of the statements. Because financial statements are often prepared by persons that are not the owners or stakeholders of the company, having an external audit offers reassurance that the […]
What is the Purpose of Financial Statements?
August 27, 2015 by Ed Becker
The main purpose of the financial statements is to offer and record information as to the financial position and changes in financial position of a business. Decision makers use this information to further businesses economic growth. There are many individuals and groups that benefit from the reviewing of financial statements. By sharing the company’s financial […]
