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RECORD YOURSELF TO MANAGE YOURSELF
In Sri Lanka, it is very rear to find micro, small and medium scale business keeping proper financial records of the business. Yet, it is extremely important to keep financial records of your business regardless of the size. There are many accepted methods of recording financials but to start report your small business the method of recording is not a matter. The following are the important reasons of recording yourself ü To determine the profitability of the business. ü To get an idea of the business volume. ü To expand the business. ü To diversify the products. ü To compete with other competitors. ü To ensure the quality of the output. ü To attract investors. ü To get financial assistant of banks. ü To be confidence about yourself. ü To face the tax regulations without any doubt. When we talk to the business owner most of the people draw following reasons for not recording their financials p...
Higher Order Thinking
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