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[INTERVIEW] Michael Majeed, Finance Executive, SR&ED Tax Consultant

YoungUpstarts

What kinds of habits should an entrepreneur cultivate so that financial management is done in an ongoing manner? Michael Majeed: Financial management is crucial to the success of the business. Take into consideration: a financial forecast will help you develop operational plans that will ultimately help make your business a success.

Finance 193
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Cash Flow

Up and Running

Download this free ebook and you’ll learn cash flow basics, how to build a cash flow statement for your business, and the best ways to manage your cash flow. Building a cash flow statement involves showing how money is moving into and out of your business from operating activities, investing activities, and financing activities.

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Working Capital vs. Cash Flow: The Differences and How to Better Manage Them

Up and Running

A strong accounting strategy includes things such as preparing a cash flow forecast—which is made easier by using an accounting tool that comes with crucial features like financial statements and automated bank reconciliation. Working capital is the overall operating money that your company has available after debts are removed.

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Turn What-if to What-Now: The Importance of Scenario Analysis

Up and Running

” It’s been a favorite management tool of mine since my time as VP for a market research firm, and it’s a method I used for decades growing a software company from zero to well over $10 million in annual sales. Before I started my own business I was a market researcher, doing forecasts. How to conduct a scenario analysis.

Forecast 120
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How To Effectively Manage Business Costs

YoungUpstarts

There is an old management adage which says that “you cannot manage what you cannot measure” This saying may be true in all parts of a company, but is especially pertinent in finance. We’ve read so much about companies and businesses going under due to poor financial management.

Cost 154
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How to Write a Business Plan for a Cannabis Company

Up and Running

Set time aside to sit down and revise the plan , comparing forecasts to actuals and revising as necessary. . Team: Who is on your management team? With the rise of new cannabis companies, it is important to differentiate your cannabis company from the competition, whether you are opening a farm, extraction operation, or dispensary.

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How to Improve Cash Flow

Up and Running

Forecast cash flow and manage that forecast carefully. The use of this for managing cash flow is obvious. You can get huge value from the process of regularly checking your cash flow to compare the actual results to your forecasts. Your accounts receivable is listed as a “current asset” on your balance sheet.

Forecast 114