In the world of business, having a clear understanding of your financial vitals is just as important as knowing your health vitals. Financial vitals are essential for business owners, providing a real-time snapshot of your company’s financial health, allowing for better decision-making and proactive problem solving, helping you make informed decisions and proactively address issues…
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As a longtime fan of Netflix’s Tidying Up with Marie Kondo, I’ve often marveled at how decluttering a closet can transform a person’s mindset. But what if we applied Kondo’s iconic “6 basic rules of tidying” to our financial lives? For entrepreneurs, periodic financial “tidying” isn’t just about neat spreadsheets — it’s about building a…
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Many Filipinos look forward to a brief pause during their workday for the merienda — a midday snack-and-sip ritual similar to British high tea. Miggy and Victoria Reyes, a brother-and-sister team who grew up in the Philippines, aim to share that tradition through their fast-growing tea brand Narra, named for their country’s national tree. Narra,…
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Understanding the difference between cash-based and accrual-based accounting methods is crucial for businesses to represent their financial position and make informed decisions accurately. Key Differences 1. Inventory Recording Cash-based: Inventory expenses are immediately recorded as Cost of Goods Sold on the income statement. Accrual-based: Inventory purchases are recorded as an Inventory Asset on the balance…
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Inventory and cost of goods sold (COGS) are both related to a company's products/merchandise, but they have different meanings. Inventory refers to the goods and materials that a company has on hand and are available for sale. It is the raw materials, ingredients, product packaging, work-in-progress, and finished goods that a company has in stock…
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In a recent Foodbevy Startup to Scale podcast episode, host Jordan Buckner sat down with our CEO Alice Zhang to discuss a question many founders are asking: Can AI handle your bookkeeping? The conversation offered practical insights into what's possible today and what's coming tomorrow. The Reality of AI in Financial Management Today Alice shares…
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The consumer packaged goods industry is experiencing unprecedented transformation. Over the past few years, we've witnessed a remarkable phenomenon: established CPG companies executing multiple strategic pivots as they navigate through increasingly complex market dynamics. The challenges are manifold – from persistent labor shortages and supply chain disruptions to escalating material costs and volatile carrier relationships…
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