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In an investigation conducted by U.S. bank, it's reported that 82% percent of companies fail. The reason for failing being the poor management of cash flows. Accounting practices that are efficient and effective are crucial for small-scale business owners to manage their finances effectively and ensure their company's successful growth.

Small-business accounting is a set of practices used to monitor the management, understand, and monitor the finances of a business like inventory management, and monitoring cash flow. Check out this post for an overview of the accounting fundamentals that small-scale business owners must know.

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