Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position.
EduOrg consultant is well trained to process the companies transaction from entry-level to producing financial statements.
A business plan, as defined by Entrepreneur, is a “written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement.” Also, it can be viewed as a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.
With our templates, EduOrg helps our partners think through the key processes of their business and produce a professional document that can be presented for raising funds or applying for a certain license.
Cash management is the process of collecting and managing cash flows. Cash management can be important for both individuals and companies. In business, it is a key component of a company's financial stability.
In advising our partners on the cash management, EduOrg focuses on the cash flow statement which is broken down into three parts: operating, investing, and financing.
Payroll is the total of all compensation a business must pay to its employees for a set period of time or on a given date. It is usually managed by the accounting or human resources department of a business; small-business payrolls may be handled directly by the owner or an associate.
Increasingly, payroll is outsourced to specialized firms (such as EduOrg) that handles paycheck processing, employee benefits and insurance, and accounting tasks such as tax withholding.
Bookkeeping is the recording of financial transactions and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.
This is the basic requirement any entity should have. It's essentially recording the In and Out transactions.
Ratios are calculated by dividing one number by another, total asset by total liability for example. Ratios enable business owners to examine the relationships between items and measure that relationship.
EduOrg ensures covering the key measures that any entity should use to evaluate the performance of their business.
Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Financial statements include a Balance sheet, Income statement, and Cash flow statement.
EduOrg assists its partners to produce financial statements that can be easily interpreted by different parties.
Taxes are involuntary fees levied on individuals or corporations and enforced by a government entity—whether local, regional or national—in order to finance government activities. In economics, taxes fall on whoever pays the burden of the tax, whether this is the entity being taxed, such as a business, or the end consumers of the business's goods.
EduOrg tax expert is well trained to prepare and file our partners' taxes whether it's corporate or individual.
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a family, a group of people, a business, a government, a country, a multinational organization or just about anything else that makes and spends money. At companies and organizations level, a budget is an internal tool used by management and is often not required for reporting by external parties.
Although this is a management tool, EduOrg helps companies brainstorm and provide certain tools to estimate future figures.
Most new businesses need to register with state or local government as well as take out licenses. The license authorizes you to open and operate your business. Registering your business puts your company's information e.g. your business name, your tax data, etc. in the government's files.
Based on the company's business plan, and objective, we advise our partner as to the needed license for their particular business.
Forecasting is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends. Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time. This is typically based on the projected demand for the goods and services offered.
EduOrg uses certain professional technique to help our partner forecast the direction of future trends.