Creating new revenue streams is a smart business decision, but how to you assign company costs to each source of revenue? The process can be difficult, and if you don’t allocate costs in a way that makes sense, your financial results will be distorted. You won’t understand how profitable a particular business line is, […]
Why Cramming is Not a Good Idea
in General Business/by Kenneth W. BoydThe school is supposed to be a child’s second home. It is where they learn about various subjects that can be useful in their everyday lives. It is also where students meet life-long friends and teachers who can make a difference in their lives. Their respective parents have the primary responsibility of choosing a […]
What BuzzFeed’s Business Lines Teach Us About Cost Allocation (Blog post, with graphics)
in Accounting/by Kenneth W. BoydCreating new revenue streams is a smart business decision, but how to you assign company costs to each source of revenue? The process can be difficult, and if you don’t allocate costs in a way that makes sense, your financial results will be distorted. You won’t understand how profitable a particular business line is, […]
How An Accountant Can Help
in Entrepreneurship/by Kenneth W. BoydThe decision to hire an accountant isn’t always an easy one. Sometimes it can feel obvious that you need to hire someone to help with your finances, but there are other occasions when you tell yourself you can do it on your own. However, an accountant can help you with a number of different things. […]
What DoorDash Teaches Us About Profit Margin And Sales Mix (Blog post with graphics)
in Accounting/by Kenneth W. BoydThere’s nothing wrong with promoting a loss leader product to get customers in the door. Your grocery store does it all the time. Around July 4th, the store advertises rock-bottom prices for charcoal, hot dogs, buns, and other items for your holiday picnic. They also bundle these products into a nice display area […]
The Importance Of Small Businesses
in Entrepreneurship/by Kenneth W. BoydYou may feel that your newly launched small business is not hitting the goals you had initially set when you first began your business, but you may be forgetting the importance of your brand. The prevalence of small independent business has soared over the past decade and as we enter a brand new decade, […]
How Grounded Boeing 737 Max Planes Impact The Inventory Turnover Ratio
in Accounting/by Kenneth W. BoydHow expensive is it to carry inventory? It may be your firm’s biggest use of cash- money that you can’t use for some other purpose. One of the biggest inventory issues is the Boeing 737 Max planes, which are currently grounded. What Happened The Wall Street Journal explains that the FAA […]
The Real Real Merchandise Scandal: Inventory and Consignment Sales (Blog Post with Graphics)
in Accounting/by Kenneth W. BoydIs that luxury item you purchased the genuine article? If not, you’ve overpaid by a wide margin. That’s was the scandal at The Real Real, world’s largest online consumer marketplace for luxury items. The company website states that the firm “is the leader in authenticated luxury consignment. Every items we sell is 100% […]
How to Avoid the Financial Impact of an Accident
in Personal Finance/by Kenneth W. BoydStaying healthy isn’t easy–nor is it cheap. The average costs of healthcare in the country are almost double what it was 40 years ago. As such, there’s a huge financial impact with every accident that you might end up in. Whether it’s a car collision, a work-related injury, or even something that happened while […]
Protecting Your Business: Are You Doing Enough?
in Entrepreneurship/by Kenneth W. BoydBuilding a successful company is hard work. So, when you do achieve your short-term goals, it’s vital that you take the right steps to ensure that the venture continues to hit its targets for many years. Protecting the business from threats and potential pitfalls is vital. Every entrepreneur appreciates the need to install […]
Protect Your Financial Bubble
in Personal Finance/by Kenneth W. BoydThere are few places better in the world than home. It’s the place where you and your family can feel completely safe from the outside world. The place where you make memories and grow closer together through the time that you spend with each other. It can often feel as though you’re living in your […]