Are you struggling to manage your small business accounts? Do you panic when it comes to submitting your tax returns? Here are some fundamental tips to help small businesses that have decided to outsource their accountancy requirements. Read on to find out how to do it to get the best […]

Why is restaurant accounting necessary for your food service business? Restaurants typically run about a five to ten percent profit margin, which is not much considering the work involved. Tracking or managing your cash flow is one of the most important tasks you must perform when running a successful restaurant. […]

The accounts department is an important function for any business, but for small businesses where cash flow is the lifeblood, the accounting section can really make a big difference to understanding where the money is being made and where it's being spent, this is an area where Gilmour & Co can […]

The first thing a paramedic does when responding to a person who is unconscious is check their pulse. That rhythm of blood pumping through the veins is a necessity for life. Just like life, your startup company also needs a steady and consistent pulse. That pulse is your accounting department and […]

The existing business market is tough enough in today’s global economic climate, without being forced to tackle internal issues that have the potential to undermine your chances of achieving long-term success. Take business compliance, for example, which is a key component across multiple industries and establishes regulations which individual companies […]

For most businesses to thrive, extending payment terms, rather than collecting payment up front for products and services, is necessary. Unfortunately, not all customers are great with paying their bills on time, and outstanding invoices can put the pinch on your cash flow and negatively impact your operation on numerous […]

The business landscape is rapidly evolving. If a business plans to outshine and outperform the competition, it is crucial that it uses the fastest and newest technology available in the market. Such tools will not only allow it to get an edge over their competition but provide them the means […]

Cash flow is a very crucial aspect that determines the magnitude of success your business is capable of achieving. When it's high it means things are good but when it's low, you need to get worried. Many are the times that sustaining the required cash flow become a major challenge. […]

If you are a recent accounting graduate or looking to change careers, you have a few decisions to make. One of these decisions is what kind of organization you wish to work for. While there are many types of organizations who can use your accounting skills, you can generally break […]

Becoming a Certified Public Accountant is a challenge. You will have to endure 150 hours of education and undergo a grueling exam. After that, you will have to continue your education to stay up to date on the information you need for your license. While contemplating this workload you may […]

In accounting, the balance sheet is a snapshot on a company’s finances at a fixed time; accordingly, the cash flow statement reflects the changes in company’s finance over a considerably longer time. The statement reflects both the cash inflow and the cash outflow for a specific period of time. The […]

Compared with the balance sheet reflecting the activity of a company at some point, the income statement shows the company’s financial situation over a long period of time. In other words, the income statement deals with the company’s revenues and expenses, presenting a summary of its financial activities from 3, […]