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According to study done by the U.S. bank It was discovered that 82% of companies fail, with the root of the failure being poor control of cash flow. Accounting practices that are efficient and efficient are essential for entrepreneurs with a small business to ensure they manage their financials effectively and set their businesses for success.

Accounting for small-scale businesses consists of the application of financial methods to monitor the management, understand and manage the financials of an enterprise, such as managing cash flow and inventory. Check out this post for an overview of accounting fundamentals that small-scale business owners must be aware of.

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