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[castbound castboundoski]

How well do you manage your company's finance ?

Do you have someone who does the job for you or you are doing it yourself as an owner?

 

[Ewogboka]

If it is possible you as the owner of your business should give final approval for financial transaction of bigger amount to avoid bankruptcy.

 

[Niftyicon]

The size of the business really matters in this case. If it were a small business, you can go ahead and do it yourself but when it gets bigger then hire someone who will be 100% accountable to you to handle it. It is also very good to have a knowledge of what you have hired him to do.

 

[KVÑGRÁÑKÌÑG]

The hardest part to manage a company business is finance, when you are financing and organization without record the money will be useless

 

[Wisdom01]

I do not have a company but I do help someone manage his/her country finance then , its not easy because the person will try as much as possible to reduce the expenses and others

 

[Brain]

You can do this only if you just started your business and if it's a small business because even large business at their early age needs a professional accountant to manage their finances and ensure that their revenue exceeds their expenses. Even small business at some points needs the knowledge of an accountant to manage cost and expenses of the business. So to manage your finance effectively and efficiently, you'll always need a professional accountant or you become one.

That's right any good company will always need to have a professional to help them in proferring solutions to their needs. For any finance issue having a good accountant will be the way out.

 

[Rollerkid]

How well do you manage your company's finance ?

Do you have someone who does the job for you or you are doing it yourself as an owner?

There are various ways one can manage his or her business finance and this mostly depends on the size of the business. When the business is a small scale business, the owner can decide to manage it in order to save the cost of employing some one to manage the business.

 

[Josemendez]

An employer of a big firm may not have the enough time to take care of all the financial activities of the company thus people do manage it for him but then he is the one that gives the final approval or disapproval when it comes to financial obligations .

 

[Delaw2020]

Managing a company's finance is never an easy task, especially if the company is a big one. i used to manage my own company's finance because it is a small one, although, I have an accountant that oversees all financial transactions and reports back to me.

 

[Bookwormlux]

An employer of a big firm may not have the enough time to take care of all the financial activities of the company thus people do manage it for him but then he is the one that gives the final approval or disapproval when it comes to financial obligations .

This is a very wish strategy. I believe it's going to help him discover any ills going on I'm in the firm, and sanction the persons involved. Though, a very trusted employee can fill the space too.

 

[Josemendez]

This is a very wish strategy. I believe it's going to help him discover any ills going on I'm in the firm, and sanction the persons involved. Though, a very trusted employee can fill the space too.

Trust is easily lost especially when it comes to handling money . He can only trust him with taking records and calculations but he should be the overseer of his financial activities .

 

[Bookwormlux]

Trust is easily lost especially when it comes to handling money . He can only trust him with taking records and calculations but he should be the overseer of his financial activities .

But, in a situation where the Boss is a very busy type, he would be left with no choice than to look for a trustworthy person. There are still trustworthy PEOPLE out there, no matter how bad the society may look.

 

[Ofonime]

But, in a situation where the Boss is a very busy type, he would be left with no choice than to look for a trustworthy person. There are still trustworthy PEOPLE out there, no matter how bad the society may look.

I agree with you about this issue there are still trusted people that someone could do business with but for now this type and set of people are very hard to locate,the only thing which I can say is that you go far away to where people dont know you and get a maid for yourself

 

[Bookwormlux]

I agree with you about this issue there are still trusted people that someone could do business with but for now this type and set of people are very hard to locate,the only thing which I can say is that you go far away to where people dont know you and get a maid for yourself

The devil you know is better than the angel you don't know. Going to where you are not known may not help matters. Being the head of a business, you are privileged to get in touch with other top business people. It's wise to get some of them to recommend a honest person for you.

 

[Delaw2020]

We have a family business. I work for my parents. I think the hardest way which is not hard for me is discipline and control not to get away with money. I don't easily tempted in money so it is not big deal with me

You have said it all, discipline and control. These two factors are really critical and are the hardest part in business management. Let's examine successful business moguls of our time, these attributes are always on them.

 

[Odufalove]

You will find a very thin line between "Business" and "Self employee". And the "hardest" part of managing finances is to adjust your personal budget vs. the "business" income.

Thats a true one mate.. lots of people tend to spend their business income on personal budget...so therefore to different business income and personal budget you need self control and proper management skills for that.

 

[Odufalove]

We have a family business. I work for my parents. I think the hardest way which is not hard for me is discipline and control not to get away with money. I don't easily tempted in money so it is not big deal with me

Discipline and self-control.. some people don't really have that and they tend to squander funds for unnecessary things and then put the blame on the employee

 

[Bushbaby7]

Oh yes, discipline and self-control are essential when it comes to running a profitable business but not everyone is blessed with either. I see a lot of 'business people' who get over-excited when the money starts rolling in. Instead of re-investing it in their businesses, they put too much focus on all the wrong things such as buying flashy cars to impress people, financing all the hangers-on and partying up a storm. Before you know it, a business that showed promise collapse and disappears. It's crazy.

 

[Bushbaby7]

This easiest way to manage your company finance is not be directly in charge but you should play a supervisory or monitoring role and place your self on salary so as to avoid unnecessary expenses

I know what you mean but I think it also depends on the size of your company. In the early stages, I would personally prefer to be very hands-on to ensure I know everything that goes down. But as the company grows, as you say, it would be better to take a back seat and allow a trusty manager to take over.

 

[Niftyicon]

Oh yes, discipline and self-control are essential when it comes to running a profitable business but not everyone is blessed with either. I see a lot of 'business people' who get over-excited when the money starts rolling in. Instead of re-investing it in their businesses, they put too much focus on all the wrong things such as buying flashy cars to impress people, financing all the hangers-on and partying up a storm. Before you know it, a business that showed promise collapse and disappears. It's crazy.

As a friend would say ' they refused to borrow wisdom'. Many businesses have collapsed exactly for that same reason. People who want to live lavishly before the business has found its footing. There are owners that will use all the profits of the company with no thoughts for the future of the company and even the workers who are owed salaries month after month.

 

[Bushbaby7]

As a friend would say ' they refused to borrow wisdom'. Many businesses have collapsed exactly for that same reason. People who want to live lavishly before the business has found its footing. There are owners that will use all the profits of the company with no thoughts for the future of the company and even the workers who are owed salaries month after month.

Oh Lord, you really get it! Last week I was at this posh store and found there were a lot of items missing. It wasn't even the first time. So, I asked someone I know who works there why they kept running out of stock, was it due to COVID-related delays? And he said no, the owners keep dipping their hands into the earnings rather than re-stocking