Small Business vs Big Business - 2018 Words

Big Business Starts as Small Business Software to support a growing enterprise There are two certainties in life – death and taxes. While both are unavoidable, at least the taxes issue can be managed. But managing taxes, and business finances in general, takes detailed information. Considering how most small businesses get their start in accounting for their business operations, it is not surprising that information gathering becomes one of the most time -consuming and frustrating tasks around tax time. Fixing the problem from the beginning and keeping a system with the detailed data you need on an ongoing basis is the key to avoiding the rush and to building a business information framework that spans the life of the business entity. In†¦show more content†¦Systems which take a broad view of the business, offering only general information and process support, frequently do not supply the business with the levels of intelligence truly required. For example, a manufacturing business needs to fully understand and manage the manufacturing processes and materials supply to ensure profitability and consistent product quality. A retailer needs to know which products sell in which markets in order to ensure product stock and availability to key customers. And all of this information is time-critical if the business is to make necessary adjustments in time to benefit from them. This level of detail can only come from a system which incorporates a certain specific orientation towards the operational processes of the business. The fact of selling a product to a customer is an activity which gets recorded, but the additional details of the customer location, pricing levels, purchasing levels, salesman, inventory item, and warehouse location tell the rest of the story. Over time, the business owner can then better understand customer purchasing habits, inventory item turnover, supplier dependencies - a wealth of business intelligence. This data is then used to assist the business owner or management in determining the specific activit ies or actions necessary to keep the business moving forward and improving performance. In the end,Show MoreRelatedEssay on Bus5611009 Words   |  5 Pagesï » ¿ Business Organization Discussion Forum 4 Bus 561 Nekeshia Raybon                                  Organization is critical for a business to run in an orderly fashion. One must also display a sufficient amount of experience as well. Betty is having difficulty deciding which way to go with many aspects of her business. Betty is anxious to turn her business owner dream into a reality. In this assignment, as well as in a legal and spiritual perspective, one will discuss Betty’s issues with choosing a companyRead MoreBusiness Accounting Methods : Cash Vs. Accrual Essay1420 Words   |  6 PagesUsing the wrong accounting method There are two main business accounting methods: cash vs accrual. 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