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100K Factory Revolution It is often the accounting and financial planning aspects neglected in small and medium-sized companies. Sometimes this is due to the paucity of time or a dearth of skilled or simply lack of understanding the importance of data and figures audit staff. Dealing with Daniela Williams, strategic accounting and organization of the company and Williams Consulting in the UAE, in her talk with the fortunes of the magazine the most common errors in small and medium-sized companies with regard to accountability, and the importance of recognizing the competition, and the importance of communication as a basis for financial planning successful.
From your perspective, what is more commonly committed by small and medium-sized 100K Factory companies in the accounting errors?
I think the biggest mistake is to not assign a qualified accountant in the first place, trying many of these companies are striving to do the job themselves or end up not doing them at all times. Second, if you are in your path to the hiring officer – accountant – it should have been appointed based on qualifications and not because it is less expensive than others.
There is another common error with regard to not to buy the appropriate accounting programs and sufficiency using “Excel” program. The lack of record-keeping a common mistakes as well; may be retained but the billing owners of small businesses often forget that their expenses are part of their100K Factory Revolution company. Instead of monitoring and record-keeping expenses, much of them end up out of their pockets and pay in their own accounts.
Omission petty cash from the mistakes that often I see where many of the staff does not maintain any records are sufficient to borrow money when needed. While monitoring and follow-up of these petty cash is assumed as in the case of100K Factory Revolution 2017 Edition bank accounts. That money, in fact it uses a dedicated company only.
There is another mistake often I observe a failure of the 100K Factory Revolution Bonus managers of the owners an active role in the financial affairs of the company, where many owners would like to focus on what Atqnnouna only, which often have sales, marketing or strategy in general, and therefore neglect the financial aspects. This often leads companies to spend more than its capacity. And end up investing in keeping up appearances instead of investing in practical ways.
Do you notice a lot of debt in small and medium-sized local companies?
What I observe that a lot of people are paying the amounts due using their own financial resources. Many of the personal wealth is wasted on their companies because it is not reflecting on their spending. Often debt in the medium and large-sized companies shows, while in small businesses, and I mean very small100K Factory Revolution companies that have the number of employees from 2 to 5 employees, the biggest burden is on the owner of a major bear the consequences. People do not exercise due caution in most cases, this is probably due to their belief that they assign the task to a third party, but they are exaggerating the use of this solution, or because they are in dire need of more space and seek to larger space and not the operation of the space.
Is consistency and uniformity in the growth of brilliant strategies for small businesses in accordance with the process so spend your capabilities and abilities and start a small business size. Do not be afraid to inform your customers that your strength of a single individual. Many people have a problem with this point and try to show their companies as bigger than they are. In the end credibility be the basis on which significant.
We have seen in the recent increase in the pressure on the region in terms of transparency and accountability. Did you notice signs of pursuit of small and medium-sized companies towards these two principles?
I think that the laws and regulations imposed on the market for small companies and medium-sized enterprises are not rigorous enough yet. Governments tend to turn a blind eye to small and medium-sized companies as long as they meet the licensing business and employment laws. And thus it becomes a matter of transparency related to the company, which means that small businesses will be keen mostly on search, and to deal with them when the search for 100K Factory Review investors or when you apply for a loan. However, it is through the imposition of strict conditions of financial institutions for lending, financial records transparent and clear become an urgent need for lending. This applies equally to apply for a credit card where the claim accounts are transparent and in some cases are required to submit audited accounts and audit.
In your opinion what are the biggest challenges for a strategic accountant working in a small or medium-sized company?
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The biggest challenge for me in 100K Factory Revolution is to make people listen and listen to my recommendations. Working with small and medium-sized companies usually means working with the owners of companies who have the feeling that they are fully aware of and familiar to all matters relating to their companies and hence it becomes difficult to advise them. The use of analogies and examples useful worker and assistant in such situations. It is also important for strategic reading of the accountant often and stay abreast of the latest information available.
I in fact believe in the concept of providing a helping hand firmly, in the sense that it must be on the strategic accountant taking the client, however, and guidance through the various and multiple steps that the company needs to do.
Another challenge is to encourage the owner to develop a clear plan and think about the future and whether its products and services will continue over time. This very important aspect because most companies only think about the present and look to the future neglect. The fact presented for a product is specific to you now does not mean you are safe from competition, and others unable to break into the market and reduce your control it. It is very important progress on competitors even if you think you’re the only one doing this or that activity.
Small business owners tend to take advantage of any and all opportunities that appear on the horizon, which could damage their focus on what is consistent and in conformity with the reality of their strategy. Very attractive opportunities at the moment of their appearance may seem But if the owners of the company began to respond and seize all the opportunities they will lose their focus on their key activities. At the strategic accountant must provide advice and guidance to business owners to think long-term instead of going trimmer opportunities.
I think there’s something else must be strengthened in small and medium-sized companies, namely the need for a more comprehensive analysis of the risks of a financial and a full assessment supporting its decision-making process. Most entrepreneurs enjoy the view of the very positive about things, which is what makes this point very important in order not swept behind the optimism.
Accountant strategy not only your outlook on internal factors only for the company but also external factors such as the performance of the industry as a whole and future trends include the level. Is there a difficulty in obtaining information by industry or field type in the region?
There are generally difficult to obtain information, unlike other regions. In the United States, for example, all the things transparent, clear, and there is a trend prevalent in the society as a whole of the importance of the participation of the problems and successes with others through blogs and Web sites. In this region, it has to rely mostly on the Google site to search sites and major news on the Internet. The attending trade shows, conferences and other means to obtain information, especially if the exhibitions and conferences focused on specific industry because it allows to obtain an overview of the competitors. Fastieb principle of competition is the most important aspect at all. The strategy recommended by all the small and medium-sized companies: find out what rivals are doing.
I believe that social media provides a good research tool as well. Groups my site LinkedIn and Facebook are often good indicators of trends in the industry. At present, if you have a question or problem Vbusak posted on the Internet is likely the existence of the will submit an answer or a solution.
What is the thinking and vision that must be met in small and medium-sized businesses so that they can benefit from cooperation with strategic accountant way? What are the ingredients that ensure the success of this kind of cooperation?
Is to communicate is the most important component, and here I mean a great deal of communication. In fact, the most successful of my clients are meet them for coffee on a regular basis. And therefore there will be an opportunity for the client to tell me about the problems faced by then, then I can provide my advice and my thoughts. Consumers tend to call me accountable ideas, which can be considered as another way to describe the services that the strategic accountant must be submitted for companies.
Ideally, small businesses will invest in strategic hiring an accountant before they even begin by establishing a project. Sometimes 100K Factory Revolution accountants strategists should be honest with their customers, even if their opinion was contrary to the wishes of customers. It is not easy to tell people that their thoughts are useless but it is better to do this at an early stage. The thoughts and perceptions about your 100K Factory Revolution company is guide you. But this is the main reason that the strategic work function useless as an accountant because you work with people who have great enthusiasm and passion about what they do.