How an Entrepreneur Can Grow No Matter What

[sadiksojib35]

In 2023, a record number of amendments were made to the Russian Tax Code — about a thousand. The key rate doubled, the cost of resources and logistics is constantly changing. The country is preparing for new fines and progressive personal income tax.

Companies need to calculate their strengths. In terms algeria whatsapp number data of financial management, it is worth focusing on three aspects: profit, solvency and financial risk management. Irina Ekimovskikh, founder and CEO of the Audit and Consulting Group " Capital ", spoke in detail about each aspect.

Subscribe to RB.RU in Telegram


Profit
Money in a company account and business profit are different entities. Profit consists of income and expenses. For example, you received some revenue, but you have an obligation to pay suppliers and pay salaries. This means that your revenue will decrease by these amounts. And the remaining funds will be your income.

If you look at your current account at the moment of receipt of revenue and equate the amount received with income, you will incorrectly assess your finances. This mistake is most often made by entrepreneurs who work on advances from customers. For example, construction companies.

One construction company carefully tracked all receipts and payments, but did not take into account liabilities, the amount of houses still needed to be built for clients. At the same time, there was enough money in the account, and the owners calmly took large amounts of dividends. When financial managers collected the company's management balance, they calculated that liabilities exceeded assets by 55 million rubles.