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Financial compensation is extremely important for any employee. For an employer, it's difficult to evaluate the differences between bonuses and incentives for compensation. Furthermore, business … [Read more...] about Bonuses vs. Incentives Compensation

Do you know the difference between Cost of Goods (Variable Costs, Direct Costs) and Overhead (Fixed Costs)? Assuming that you do, is your Chart of Accounts set up to clearly delineate between these … [Read more...] about Overhead – Related to Estimating and Pricing

The one thing many small business owners hate more than taxes is paying overtime – paying extra when they are not charging extraCutting/reducing overtime is at the top of many owners to do list. … [Read more...] about Overtime Heresy

Work instructions are developed for several reasons. They can be used to capture design specifications ofthe item to be built, to impart knowledge to the assembly team on the steps to build an item, … [Read more...] about Method Sheets

Productivity metrics have always been collected and used to measure manufacturing efficiencies. They are customarily comprised of indices comparing unit(s) used for inputs in the nominator to units of … [Read more...] about Linearity

These changes are why succession planning for business owners is so important. It helps you specify, in writing, what will happen to the business when you step down. Will it be liquidated, kept in the … [Read more...] about Succession Planning

Companies need to have Operating Financial Statements to manage both their direct and indirect costs to produce a Gross Margin. Other financial formats may be useful for other purposes such as tax … [Read more...] about Structuring the Chart of Accounts

Why worry about Quality?Consider the W. Edwards Deming Chain. His methods have consistently proven that implementing a properQuality Management System will:Improve QualityDecrease CostsImprove … [Read more...] about Quality Management Orientation

Experience & research1 has shown that there are 12 Essential Disciplines that businesses must master in orderto break through to the level of sophistication that creates sustained Profitability, … [Read more...] about The Balanced Wheel of Expertise

The term overhead, from a managerial accounting standpoint, is the cost of doing business, other than directmaterials and labor required to make a given product or provide a given service.Think of … [Read more...] about Overhead Cost Analysis Case Study

Starting and growing a business is difficult, to say the least, and has its challenges. As the business gets started, it is likely the owner is the only employee and every activity is the owner’s … [Read more...] about Delegation – Art or Science

This white paper will address how small companies can benefit from basic strategic planning. Strategic planning is typically viewed as a methodology for fortune 500 corporations, but small … [Read more...] about Strategic Planning for Small Businesses

There are many benefits to job costing some of which include:Develop reports on project-based profitabilityCompare estimated bid costs to actual job costsDetermine which types of jobs yield the … [Read more...] about Job Costing in QuickBooks

People are the prime factor in the five key elements that affect any business’ ability to achieve long-term success:In order to make your organization succeed in the long term, you need to … [Read more...] about 12 Golden Rules of People Management

Click the link to view / download this white paper: 10 Steps to Time Mastery … [Read more...] about 10 Steps to Time Mastery