Common Bookkeeping Mistakes

Before getting into a discussion of common bookkeeping mistakes, it is worthwhile to address the importance of sound bookkeeping in general.

The importance of sound bookkeeping is frequently lost and ignored by management. It is apparent that the main reason management tends to ignore the bookkeeping function is because it is focused on the “big picture.” What management fails to recognize is that there is no “big picture” to look at without bookkeeping first doing its thing in the details.

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Do You Have An Effective Disaster Recovery Plan?

One of the most significant, if not the most significant function within any secure business is that of risk management. Risk Management equates to having a set of policies and procedures in place that are designed to mitigate losses caused by a myriad of circumstances including natural disasters (floods, tornados, hurricanes, etc.).

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Taking Your Business Green

A green business is a business that cares about its profitability while at the same time is constantly attentive to the impact the business has on the environment.

As noted in a recent report UCLA’s newsroom, contrary to the idea that environmentalism hurts economic performance, a UCLA-led study has found that companies that voluntarily adopt international “green” practices and standards have employees who are 16 percent more productive than the average. Professor Magali Delmas, an environmental economist at UCLA’s Institute of the Environment and Sustainability and the UCLA Anderson School of Management, and Sanja Pekovic from France’s University Paris–Dauphine conducted a study how a firm’s environmental commitment affects its productivity.

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Do You Have An Interest In Exporting?

Small businesses looking to increase sales and profit, reduce dependence on the domestic market and stabilize seasonal fluctuations should consider exporting. Consider these facts:

  • Nearly 96 percent of consumers live outside the U.S.
  • Two-thirds of the world’s purchasing power is in foreign countries.

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