Assets vs. Expenses

People often confuse assets with expenses.  This is because both assets and expenses use up your funds – these are things you can spend money on. Assets provide a future benefit to your business.  They help bring in future revenues and profits.  Assets appear on the balance sheet. For example, inventory is an asset. Expenses […]
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Managing inventory productively

From Wikimedia Commons One of the most challenging aspects of running a business is managing inventory in a productive way. First of all, what is inventory?  These are the products that you have purchased which you plan to resell to customers. One new-wave approach to inventory management is “made-to-order.”  This means that you produce products […]
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