Why Does My Business Need Internal Controls?
Your business may need internal controls. Internal controls are the policies and procedures a business takes to safeguard its assets.
A key to running a profitable business is to make sure that the assets, especially cash, are protected. Assets are the lifeblood of any business large or small. They represent the items owned by the business that lead to the production of income. If they are left unprotected, then the profitability of the business is limited or in jeopardy.
The Difference between an Employee and an Independent Contractor
At some point in time, a business owner has to decide whether to seek help in growing their business. They are going to need employees or independent contractors or both for the business to grow. An employee is hired by a business to perform a specific task or tasks. So is a contractor. The difference depends on several factors, but the reason is specific.
What Is the Difference between a CPA, CFO, and Controller
In the business world, several terms relate to the financial affairs and functions of a company. The most common are Certified Public Accountant, Chief Financial Officer and Controller. Depending on the entity, this could be one person or three different individuals. The essential difference between these three individuals, however, is CPA is professional designation and the CFO and Controller are job titles.