Evaluating your company’s performance is critical to ensure its success and growth. But how do you assess performance? Enter the Key Performance Indicators or KPIs. These valuable metrics provide valuable insights into various aspects of your company’s financial health, allowing you to make informed decisions and drive positive change. The experts at Protea Financial can assist you…
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Protea Financial was founded in 2014 to provide high-quality outsourced accounting at an affordable price. Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the workforce after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were previously overlooked. Protea strives to…
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In any endeavor, it’s always better if you can increase your odds of success by gathering more information to help tilt the odds in your favor. Remember when the Houston Astros employed technology to steal the opposing teams’ signs during the 2017 and 2018 seasons? After this baseball scandal was revealed, the Astros fired its…
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A good financial strategy is critical for success, whether you’re just starting out or trying to expand your current enterprise. Budgeting enables you to properly manage resources, track your finances, and make educated decisions that drive development. But, let’s face it, handling finances is usually the least fun aspect of owning a business. This is…
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If you are a business owner on the verge of separating or your spouse just filed for a divorce, you will want to start gathering information about separating your business interests. Undoubtedly, you will ask your family law and business attorneys many questions, and here are just a few. How will my business be divided…
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What are internal controls? Investopedia.com defines internal controls as “the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.” [1] In other words, internal control is systems put into place to help protect businesses. Internal controls include approvals, reconciliations, and segregation of duties. Having…
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