Gillian Vitug

Recent Posts

Double Entry Bookkeeping: A Must-Read for Business Owners

Posted by Gillian Vitug

Feb 10, 2016 11:34:00 PM

Double-entry bookkeeping has become one of the foundations of modern business accounting. And with good reason. Through this systematic method for recording critical business numbers, your SME will have a more effective way of making accurate calculations of its profits and losses. In that case, opting for the double-entry system also enables your SME to detect fraud and discrepancies early on.

Important Uses of Your Cashflow Statements

Posted by Gillian Vitug

Jan 20, 2016 12:54:00 PM

A recent article published by Small Business Trends shows that the business exit rates in the US are declining. According to the report, the latest data collected by the Census Bureau in 2013 suggests that the SME exit rates in the country are down at 9%, clearly depicting a significant improvement on the performance of contemporary SMEs in America.

Learning the Ropes to Financial Statement Transparency

Posted by Gillian Vitug

Jan 6, 2016 10:19:00 AM

For individuals who do not belong to the business financial sector, it may be easy to assume that all financial statements are transparent. By transparent, the assumption is that the said financial documents are clear and filled with relevant and pertinent financial information.

Practical Tips in Redoing your Budget

Posted by Gillian Vitug

Nov 25, 2015 6:00:00 AM

“Don't tell me what you value, show me your budget, and I'll tell you what you value.” Or so says Joe Biden. If you look at budgeting closely, you will realise that this statement indeed rings a lot of truth in it. When we do our budget, we prioritise spending. And yes, as we exercise our discretion, it is inevitable that we focus on what we deem is most important.   But then again business organisations are complex and you may need to shift gears sooner than you think. When that time comes, how do you redo your existing budget?

A Quick Guide to SME Budgeting and Forecasting

Posted by Gillian Vitug

Nov 11, 2015 6:00:00 AM

  We constantly hear the term budget from financial service providers; we use it many times on far too many instances - in household finances, business cashflows and various government offices. But fact is, having a very basic understanding of this financial accounting term won’t do it any justice. In order to serve its real purpose and to use it in the right context, you must first have a clear understanding of business budgets: why do you need a budget, when do you develop your budget and what should it include? Read on to get the facts straight.

GAAP Compliance and your American SME

Posted by Gillian Vitug

Oct 28, 2015 6:00:00 AM

  Using research from various finance and accounting services as well as the summary of the 2014 State of SME Finance in the United States as basis, it would seem that small and medium enterprises in America are indeed the driving forces of the US economy. 

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