The Concept of Internal Control

Julie Babcock-HydeSmall Business0 Comments

internal controls

Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to reduce organizational risk. A blunt … Read More

5 Things Small Business Owners Can Do to Reduce the Risk of Employee Theft

Julie Babcock-HydeFraud Prevention, Uncategorized0 Comments

employee theft

  Many small business owners assume an employee would never steal from them because of the nature of close relationships at their small business. In addition, the majority of small business owners have never been trained on preventing loss from employee theft. Employees don’t just steal cash – they may be stealing inventory and materials that go into manufacturing, tools … Read More

How to Protect Yourself from Identity Theft

Juliet Babcock-HydeFraud Prevention0 Comments

protect against identity theft

The security breach at Equifax a few months ago left many people thinking once again about identity theft. The best thing is to do everything you can to prevent it from happening to you. Here are a few tips to help you reduce your risk of being a victim of identity theft as well as how to reduce the damage … Read More

Could Your Business Survive a Disaster?

Juliet Babcock-HydeDisaster planning0 Comments

business disaster planning

As business owners, we want to remain optimistic about our business’s future.  But life can happen, and we need to be prepared.  A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them.  In 2017, we’ve already had floods in the Midwest and California, a healthy dose of … Read More

Seven Small Business Risks

Juliet Babcock-HydeSmall Business0 Comments

Seven Small Business Risks You Might Not Know You’re Taking Running a small business is often about taking and managing risks. Market risks are normal but business and tax risks are another thing altogether.  Most business and tax-related risks can be managed as long you know about them.  Here are seven small business risks you will want to make sure … Read More