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Be More Proactive about your Financial Health

Slateac25 Jun, 2021Other

Weathermen forecast spells of rain, sunshine and storms on a regular basis. They use historical patterns of cloud and wind to predict their future course. If this can be done for something as fickle as weather, as a founder you can learn to proactively predict the performance of your business. Here are some tips for you to stay on top of your company?s financial health and predict how things will shape up in the future.

Things SME Owners Wish Their Accountants Had Done Differently

Slateac25 Jun, 2021Other

Starting a business is exciting as well as risky. Financial management is one major aspect that troubles many SME owners. Most of them suffer a major setback due to a lack of proper accounting knowledge. Here are some basic mistakes that the majority of small business owners make and wish their accountant would have suggested acting differently upon.

7 Things To Check For In Your Cash Flow Statement

Slateac25 Jun, 2021Other

A cash flow statement is an important financial management tool that gives a fair idea about an organization?s financial health. It portrays a detailed picture of the flow of cash that covers the major cash-generating bone of the business, the sources of cash generation, spending activities and the major investment activities that help generate cash throughout the year.

Understand Reasons that make you Liable for an Audit � 2021

Slateac25 Jun, 2021Other

It is time for you to start preparing yourself for filing your tax returns for the financial year 2020-21. However not everyone knows if they are liable to get audited under 1 or many of the applicable tax or compliance laws in India. One of the most commonly applicable audit laws in India for a company, firm or an individual are Statutory audit under companies act and Tax audit as per Income Tax Act. GST Audit which was applicable until FY 2019-20 has now been discontinued.

Five Best Ways to Analyse the P&L for Small Business Owners

Slateac25 Jun, 2021Other

A profit and loss statement reflects how a business transforms the revenue into profits, helps the organization weed out unnecessary expenses, and make effective decisions. Investors and creditors consistently study the P&L statement prior to showing any interest in the association. In short, the statement records gains and losses that occurred during the specified timeline.

https://slate.ac/what-is-cash-flow-and-why-is-it-important/

Slateac25 Jun, 2021Other

Cash flow is the amount of money or cash flowing in and out of your business in a month. There are two ways in which cash flows ? cash inflow and cash outflow. Generally, cash inflow is maintained by customers or clients who purchase your products or services, and money comes into your business; whereas cash outflow is maintained by the expenses or tax payments, where money is going out from your business.