What Can a Good Accountant Do for Your Small Business?
Many business owners do not know what an accountant can for their business, so end up not getting the most from their accountant. There are bad accountants, but a good one will help you run your business with clarity and confidence. If your accountant is…
Cloud Computing for Small Businesses
During the lockdown, businesses could not work because they did not have tech tools suitable for working offsite. The experience drove home a reality of today; without computerizing your business, you cannot compete. Many businesses plan to install tech tools so their staff can work…
Ghanian Accountants, Our SMEs Need You to up Your Game
GHANAIAN ACCOUNTANTS, OUR SMES NEED YOU TO UP YOUR GAME “It is important to get an insight into business in times like these to make the right decisions” – Abdul Kalmoni, CEO of PC Trucks. PC Trucks use XERO, a cloud accounting software. Mr. Kalmoni…
Implementing Accounting Software Without Expert Help
Businesses use financial data to judge how they are doing and decide what to do. But accounting is a chore. So, it is no surprise that more small businesses are using accounting software. We notice that they are implementing the software without expert help. The…
What Beliefs Underpin Your Entrepreneurial Journey? These are mine
In the next 10 years, I and most of my partners will retire from SCG Chartered Accountants. To prepare for that, we’ve started working on succession. A lot of the work revolves around improving our HR process, identifying and placing people on the path to…
Tax Implications of Changing Your Accounting Year
A company’s accounting year is the period for which it prepares its annual financial statements. It must consistently prepare its financial statements to that date. This enables users of financial statements to compare performance between years. Changing your accounting year has tax implications. It poses…
How to Manage Cash Flow with Accounts Receivables
Cash flow, the total amount of money moving in and out of your business, affects how much cash you have. If cash is moving out faster than its moving in, you may run short of cash and may have to raise funds through borrowing, sale…
Outsourced Accounting Services: A Solution for Small & Medium Enterprises
Outsourced accounting services can solve the accounting problems of Ghanaian SMEs. At SCG, we believe that without good accounting, you can’t run a successful business. Here’s our own experience with poor accounting, Poor accounting is expensive. SME accounting problems Ignorance – accounting is not at…
After the Crisis: Enhancing Our Audit Approach to Build Trust
We have a crisis of confidence in audits in Ghana. That audits matter hit home when some banks failed, and the Bank of Ghana stepped in to rescue the weak banks. The public asked, “where were the auditors”? “Can we trust our auditors”? We are…
5 Accounting Terms You Must Know to Understand Financial Reports
Accounting has its own language. To have a meaningful conversation with your accountant, you must know the accounting terms they use. Five accounting terms you must know are: Net income Cash flow Invoice Accounts receivable (also called debtors) Accounts payable (also called creditors) WHAT IS…
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