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Strategic Accounting - Essay Example
Author : lgreenfelder
Pages 10 (2510 words)
One of the most common mistakes small business owners make in running their businesses is neglecting "the numbers" that surround their enterprise. Oftentimes, they are satisfied by the fact that they have enough cash coming in to cover bills, pay for their staff, and support their lifestyle knowing that an accountant will always be there to accomplish documents that take care of the financial side in their business…
The report will be divided accordingly: The first section of the report will discuss the principles of bookkeeping and accounting, giving an understanding as to why financial statements are important and how Gemma can use these financial statements to aid her in decision making. It will also answer the Gemma's first question regarding her profits. The second pat of the report will discuss Gemma's business as it compares with the industry figures. Based on the figures, the report will also indicate the areas in her business that require improvements and provide suggestions on how these can be improved. The third part of the report will discuss Gemma's plans for expansion and provide suggestions on how profitability can be ensured during and after expansion. A section to coordinate the whole report will come after and provide concluding comments regarding the whole report.
Gemma's catering business is a private enterprise under single proprie ...