e-lifeandwork: Learn New Skills Online | Online Courses & Real-World

The new year is a great time to help your business clients reflect on the past 12 months and strategize new ways to improve their bottom lines. This means giving them a deep analysis of their finances over the past fiscal year to help them understand the causes of any financial shortcomings and notable sales trends. More important, it is paramount that you help them pinpoint new ways to boost overall profits. If you can help your business clients discover new tactics to maximize their profits, you’ll set them up for greater success and growth. In my experience as the CEO and founder of CMA Exam Academy (a Certified Management Accountant exam review program), I have discovered some useful ways companies can ramp up their profits. Help Them Locate Waste in Each Business Process As they go through their day-to-day, your clients may not even know that costly waste is happening all over their enterprise. From too much manpower in a delivery fleet to wasted raw materials in a product...

Post-COVID-19, the future of working capital management has changed. Last year, supply chain complexity, inventory buffers, and loss of negotiating power all crimped many companies’ ability to reduce their working capital effectively. The height of the pandemic in 2020 also exposed weaknesses in supply chains. All those factors will increase the focus on how companies can improve working capital efficiency in 2021. In general, this year working capital management won’t be about squeezing suppliers on terms. For the 1,000 U.S. companies in the CFO/The Hackett Group Working Capital Scorecard, days payable outstanding (DPO, the number of days companies take to pay their suppliers)  increased by 7.6% in 2020, to an all-time high of 62.2 days, up from 57.8 days in 2019. (See chart below.) (For more on the scorecard’s results, see Thursday’s story, Working Capital: A Tumultuous Year.) The biggest opportunities to improve working capital now are those components that lockdowns hit...

When it comes to working capital, every rand is a soldier. Meaning that every cent you spend needs to go to battle for you and work as hard as it possibly can. Dov Girnun, founder and CEO of alternative finance provider, Merchant Capital, says that many small businesses are changing their day-to-day behaviours in order to leverage working capital effectively across their business, making them top performers in their respective industries. “Putting some fundamentals in place gives your company the best chance of unlocking the most working capital, but it also requires discipline and implementing behavioural change at a company culture level.” SA retail sales jump 95.8% in April Stats SA reports that South Africa's retail trade sales retail trade sales increased by 95.8% year on year in April 2021... 17 Jun 2021 Below, Girnun outlines the four key strategies that can help your business maximise working capital and make the most of this ripe retail trajectory. 1. Inv...

26-year-old certified public accountant (CPA) Shenaya Wilson left her PhD program to focus on growing her business. In less than three years, she’s already built a seven-figure accounting and tax planning business. She’s also the founder of the Tax Essentials Learning Program (T.E.L.P). Through this venture, Wilson educates aspiring tax professionals on the tax code and teaches them how to build their own tax practices. “Sometimes I randomly think…wow I really left a whole PhD program halfway through just to focus on growing my business,” Wilson shared on LinkedIn. She continues, “Please never let a job title, a degree, or a person be the factor that stands in the at between you and pursuing your dream. Those things will always be there. But your time and opportunities are not so secure. You never know what is waiting for you on the other side. Be a risk-taker and do it with confidence.” Accountant Goes From PhD Program to 7-Figure Business After interning with a big four acc...

The cash flow statement and the income statement are integral parts of a corporate balance sheet. The cash flow statement or statement of cash flows measures the sources of a company's cash and its uses of cash over a specific period of time. The income statement measures a company's financial performance, such as revenues, expenses, profits, or losses over a specific period of time. This financial document is sometimes called a statement of financial performance. An income statement shows whether a company made a profit, and a cash flow statement shows whether a company generated cash. Key Takeaways +The cash flow statement and the income statement, along with the balance sheet, are the three main financial statements. The cash flow statement and income statement integrate with the corporate balance sheet. +The cash flow statement is linked to the income statement by net profit or net loss, which is usually the first line item of a cash flow statement, used to ca...

CEO and Founder of QA Madness, overseeing tech startups and seasoned players` business processes and software quality assurance globally. Recently, I discussed smart spending with my team. This conversation reminded me, once again, that taking care of your personal budget and taking care of your company's finances aren't much different. The contexts and figures vary, but the guiding principles are the same. Even though I'm not an accountant or financial advisor, my experience founding and running a software testing company has taught me valuable financial lessons that I believe could also help aspiring entrepreneurs: 1. Record your expenses. For personal matters, you can use a money management app. Be disciplined, and keep track of every single purchase you make. Create plenty of categories and subcategories to get a clear picture. Seeing a clear picture will make it much easier to plan the monthly budget in the future. It is equally important to record business ...

Are you facing an incredible challenge? Expecting and facing challenges is remarkable. In fact, various problems can be solved through dialogue and consultation. By having good ethics among them as follows; ↗ Patience Challenges come and go and in various forms. But to make the right decision requires patience. ↗ Save more Careful behavior is a noble practice. Buy according to need. ↗ Keeping the environment safe The joy of breathing fresh air, living in harmony and prosperity and visiting historic places around the world ↗ Fear Fear to make mistakes that can hurt and persecute others that can cause enmity and injustice in society ↗ Dare Dare to do good according to their abilities and help them be free from adversity ↗ Network Empowering friendships with each other to receive mercy and goodness and to advance the nation ↗ Think Think and do research before taking any action. Correcting mistakes, willing to accept reprimands and not repeating the same thin...

Visual arts is one of the key areas that are moving towards helping to spur economic growth. Developing products and services without showing or telling customers is one form of waste especially to your customers who are willing to buy. The challenges of producing visual arts and creative designs are: - 1. Choose the appropriate concept 2. Goals and original elements 3. Color selection 4. Background, atmosphere and lighting 5. Images Lack of knowledge and involvement in visual arts and creative design. Increase engagement in the field of visual art creativity to produce something that is acceptable to the public. To improve knowledge, need to go through the process of learning through the reading of related books, workshops, training or courses provided by various parties. Started with ideas accompanied by white paper sketches and then translated in digital form. Need to contain positive elements to train yourself to become a good citizen. Good work is always f...

These software applications help organization or small business analyze the data to produce the information they need. Benefits of good practices inventory of management.  i. Only quantity in stock needed by customers is used. Therefore, extra storage cost is avoided. ii. Enable customers to make decision on purchasing matters - what, when, how much and the sources. iii. Enable production activity planning with customer-friendly service and assist management to make fast right decision for the company iv. Enable logistic optimization planning - able to control supply and demand, minimize the shrink and maximize customer services.

Achieve your dream goal Selling yourself to a prospective employers or clients requires a great deal of preparation. Feel confident, be professional and stay ahead of your competition. Thanks to friendly mobile website. Determine your goal as specific as possible and the goal must be relevant to your qualification. When do you want it to be achieved? 5 years, 10 years or 15 years from now? Ability to do jobs with good discipline, positive character, and continuous innovation is crucial to determine your success. Create high level of awareness, new skills and get more sustainable career prospect with better wage. Knowing the best way to know people and cultures and find a good long term strategy and direction to your journey. Last but not least, make sure your skills are suitable with the job that you apply for.