Fixed assets include land, buildings, equipment, furniture and vehicles the company owns. While expenses are frequently evaluated to cut costs, fixed asset …

A great entrepreneur will always be on the lookout for ways to improve their business. Efficiency is a goal everyone wants to …

A small business’s budget should be a fluid document. At no point in time should an entrepreneur adopt the “set it, and …

Maintaining a consistent cash flow can be a struggle for some small business owners, especially if their business is seasonal in nature …

The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance …

Unexpected fees are frustrating. Mention car dealer fees or the convenience fees associated with buying concert tickets online and a heated discussion …

Almost everyone feels as though they spend too much time on email – the Lucrum team included. That’s why we’ve compiled the …

The IRS has plenty of rules regarding deducting expenses from business income; one area that has plenty of rules is entertainment. While …

The field of accounting has its own vocabulary, which can sound like a foreign language at times. By learning the following accounting …

Every successful company must find a way to sell their services or products. Often, in relationship-based businesses, companies are selling themselves. Companies …

When hiring an accounting team, it’s important to first look at the business’s needs. What a company requires from an accounting perspective …

There’s a lot more to accounting than crunching  numbers. It’s a highly complex profession that requires an individual who not only excels …

Every business has a gold mine in its current customer base. But not all business owners remember to mine this gold because …

For some entrepreneurs, it may take years to achieve a sustainable cash flow, while others experience rapid growth and expansion within months. …

There are a lot of deadlines that come with running a business. In fact, missing some deadlines can have serious financial implications …

It’s simple. Companies are in business to make money. They do this by: providing a service; producing a product. Many companies struggle …

The New Year is just around the corner, and while many businesses may be scurrying to wrap up the books for end-of-year, …

By Kurt Dyck, CFO & Business Advisor Lucrum Consulting The average small business manufacturing company produces anywhere from dozens to hundreds of …

Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and …

Buying a business is no simple task. It’s a complex undertaking that includes a multi-step due diligence process to ensure the investment …

For business owners with employees, payroll is a necessary task that can often takes a lot of time.  To make payroll less …