Financial Performance

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What is a compilation?

October 30, 2014 by

Your financial statements play a critical role in your business decisions, and for most business entities, financial reporting is also a legal requirement. While some businesses may require the in-depth analysis of an audit, many smaller, privately held companies can benefit from a less comprehensive compilation. Unlike an audit which requires the auditor to perform,
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How to Manage Profit & Loss

October 10, 2014 by

Entrepreneurs need to properly manage profit and loss to ensure the long term sustainability of their businesses. When sales exceed expenses, the business profits. When the opposite is true, the company generates a loss. This calculation is straightforward enough, but managing profit and loss is a delicate balance that requires a thorough understanding of how
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Small Business Job Credit

September 19, 2014 by

On September 11, 2014 Federal Finance Minister Joe Oliver announced the creation of the Small Business Job Credit.  This credit will apply to Employment Insurance (EI) premiums paid by small businesses in 2015 and 2016 and will result in a 15% net reduction in EI over those years. The credit is effective for two years,
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How an Income Statement Measures Performance

September 8, 2014 by

An income statement is one of the many financial tools that Canadian entrepreneurs can use to measure profitability. Learn how to use an income statement to evaluate your business’ sustainability. What is an income statement A calculation of a company’s revenue and sales less its expenses over a designated period of time. What profitability measurements
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Profit & Loss Budgets vs. Profit & Loss Statements

June 11, 2014 by

Understanding unique financial reports and what they contribute to financial planning better enables business owners to manage opportunities and risk. Profit & loss budgets and profit & loss statements are commonly confused terms. Read on to learn the difference and to better understand how Profit & Loss budgets and statements can benefit your business. What
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How to Assemble the Ideal Board for a Post-Bankruptcy Enterprise

May 28, 2014 by

Learn how to recruit and retain an effective board following a company’s declaration of bankruptcy. Our firm explores the complexities that arise when recruiting board members for a post-bankruptcy vs. a financially sound company. We hope to demonstrate how to create an effective board of directors that will position your company for long-term success, rather
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