Watching the Bottomline

It’s not enough that you have a business that involves something that you are passionate about. In the end, it’s still all about the bottomline. You need to make sure that your business is making more than enough in terms of profits. Passion alone cannot sustain your business. But, it can definitely give you the push you need especially when things get difficult. You know that you are in the right track when you have a business with products and services that you actually use and believe in. The next step is to make sure that you bring in the revenues.

watching the bottom line

Profitability is achieved through a balance of productivity and cost management. Ensuring productivity means motivating employees for optimum performance. For manufacturing businesses, this also means having efficient processes to churn out more products without compromising quality. On the other hand, cost management has to do with ensuring that the company’s financial resources are used prudently to increase revenues and decrease wastage. Even with the operating expenses spent to put the product out into the market, the company should be able to recover their costs and have a little extra to put down as profits.

There are tools that you can use to analyze your bottom line. For those who do not have a business accounting background, there are online templates that can be downloaded for financial control and accounting purposes. Accountants and financial experts can also be hired either on a consulting capacity or as a permanent employee. Some companies choose to outsource their accounting functions to save on costs.

Regardless of who prepares the company’s financial statement, it is important for the business manager to understand what the figures mean. It is also necessary to identify specific areas that could be improved to increase the company’s bottom line.

Image Credit:
Renjith Krishnan

Share Button

Advantages of Online Accounting Degrees

These days, many people begin their accounting careers by joining the workforce. Those who show an aptitude for numbers and an inclination to pay attention to detail can easily find work as bookkeepers, office clerks, administrative assistants, and other related occupations.

online accounting degrees

For these employees, getting an accounting degree is a natural progression in their careers. A bachelor’s or master’s degree in accounting can make a great difference for people who are already working as bank clerks, mortgage processors, payroll specialists, account representatives, etc. Those with accounting degrees benefit from an even greater range of career choices, and their compensation tends to be higher as well.

Advantages of Online Accounting Degrees

One of the greater advantages of modern accounting degree programs is that they can be pursued almost entirely online. This allows professionals who are already working in a related field to apply their acquired skills to their education and vice versa. Instead of taking time out of work and family obligations, online accounting degrees offer a certain degree of freedom that is often missing from traditional, on-campus education.

Some of the most prestigious universities in the United States have made the wise choice to adapt their accounting degree curriculum programs so that they can be taken online. This is a trend that takes into consideration the modern paradigm of college and university students who have already entered the U.S. workforce. Case in point: The University of Alabama at Birmingham, UAB, a school that was among the first to be accredited as an institution that separated accounting from business programs. This is one of the universities that has successfully streamlined its accounting curriculum to meet the needs of today’s busy professionals.

Bachelor’s degrees in accounting are ideal for working professionals who want to make the switch from clerical and administrative support tasks to a dedicated accountancy career. Online master’s degrees in accounting focus on applied research, technology and communications as they apply to the accountancy field.

Online accounting degrees go beyond understanding money and finance. Accountants tend to have a better understanding about how the world really works. They can gauge the likelihood of success of a company, and they can be valuable advisors in matters of compliance. All this professional acumen can be achieved online these days, which makes it perfect for workers who want to broaden their horizons and their career outlook.

Image Credit:
CoolDesign -FreeDigitalPhotos.Net

Image Modified by:
Rossel

Share Button

Why The Accounting Standards In Japan Have Never Seized Through The Ages

The Japanese have a reputation of being serious and meticulous in what they do. They are people of honor and their civilized life bears the mark of a people deeply rooted in tradition. However, these traditions have enabled them uphold a rare face in the Western communities, which can simple be termed as honesty. This is a key feature especially in a corporation that seeks to grow in terms of numbers and it is something every boss looks for in his employees.

In Japan, accounting stands out for the following reasons:

1. It is a History of Mathematics

Accounting in Japan is not an easy task; it calls for meticulous arithmetic and appropriate conclusions. For instance, you cannot accuse anyone before you re absolutely sure, it was their mistake or responsibility because if you dishonored the by mistake, traditionally you owed them your small finger. How do the Japanese do their accounting?

2. They Keep Correct Entries

They have mastered this art since accounting was discovered. Correct entries ensure that you get a fair look into the business, you will be able to see how everything is running, the things you need to do right and those you need to stop doing. Correct bookkeeping and record entries can help you do a survey on the average number of customers you meet every day compared to the number of sales you make. The results of this could reflect upon you customer service skills and other elements that you might have to check.

When doing the records, it is vital that you do your math well since any errors would reflect falsely upon the business and the management and could cause loss of jobs and most importantly loss of investor confidence. The Japanese used this system of computing ages before the invention of other methods of calculating used today. Some continue to use this ancient form of doing numbers even today.

Simple arithmetic can be done using handheld calculators but projection based on real data is done using computer software. However, for a people who practically invented the calculator, accounting is an important aspect of their businesses.

3. Thorough Audits keep their Standards Sky High

Unlike most companies that focus on the financial books when doing an audit, accounting firms in Japan ensure that they go through every aspect of the audit to ensure that not only the books are balanced but also that the efficiency of the company is enhanced or maintained depending on the present condition of the company. They give recommendations on what should be done so that the ultimate goal, which in this case is to make profit by spending as little as possible, is met.

4. Goal Oriented Business Habits

These habits are highly encouraged in Japan. This means if you want to achieve highly especially in business you need to make you goals clear. These goals include the profit you would like to have made in a specific time. Tour books of account will show these.

Out of survey conducted on the best business environments, the Japanese scored highly in areas of politeness, courtesy and honesty. This means that their cultural dispensation makes them who they are, and it is not something they do for the sake of it. It can be traced back to the Samurai who held honor and truth as very important tenets of their code; this has trickled down into their generations as the punishment for betrayal and dishonesty was to death.

 

Professor Okinawa is an American born Japanese who majored in accounting. He is an avid angler and a blogger on accounting Japan. He plans to open an accounting firm in the coming days. 

Share Button

Online Accounting Jobs for a Successful Business

Anyone can start a business but if you hate numbers then you probably have a big problem. Business is mathematics and vice versa. However, you don’t have to memorize mind-blowing formulas or hard to remember symbols because you are just going to deal with the four basic mathematical symbols.

For those who belong to a business-minded family, knowing the do’s and don’ts would be much easier especially if a business course will be taken up afterwards. When you’re already in the business, everything will just run smoothly. All you have to do is to think of strategies on how to remain in the industry.

online accounting

To make the business successful, it needs a department that will keep track of the company’s operational expenses, return of investments and other financial matters. The accounting department is the one I am referring to. The business industry would always need people who are well versed with accounting to keep everything operational. Good thing is, there are now companies offering online accounting jobs.

In this modern era, online accounting jobs are now being offered. This time it’s much faster and as reliable as compared to those obtained from the offline world. Everything that is being offered outside can also be availed online provided that all the necessary data are given.

Technology has been continuing to make everything easy for everything. Information these days can already be obtained within seconds as well as the complicated tasks that were once taking days and weeks before getting done.

If you don’t like working with numbers then better have someone do it for you. Just make sure you can afford their fees. On the other hand, if you love numbers and you just know how to work with it easily, then try offering your services and you might start a new career with it. Just feed whatever is needed and pay for those things that you think you can’t do.

 

Image Credit:
Adamr – Free Digital Photos

Share Button