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Business owner on computer with fraud alert warning employee fraud awareness

What You Should Know: Employee Fraud Awareness

By Business Advice

Fraud is a nasty word and it’s a serious matter for U.S. businesses in virtually every industry and in companies large and small. A study on corporate fraud by Professor Alexander Dyck reported that 40 percent of public companies were found to be committing accounting violations and 10 percent were found to be committing securities fraud. Employee fraud awareness is important for business owners and employees alike for the good of your business.  According to a 2022 report from the Association of…

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Small business owner presenting financial statements to stakeholders

12 Tips for Presenting Financial Statements to Stakeholders 

By Business Advice

Financial statements are an essential part of every business’s success. But business health and success require more than just having financial statements. They need to be deeply understood, accurately prepared, actively used, and appropriately shared. As celebrated investor and financial guru Warren Buffet has stated, “You have to understand accounting and you have to understand the nuances of accounting…how to read and interpret financial statements.” Properly preparing and presenting financial statements requires careful forethought and skill.  What Are Financial Statements  Financial…

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Innovation, adaptability, and customer satisfaction in business success

Innovation, Adaptability, and Customer Satisfaction in Business

By Business Advice

In today’s ever-evolving business landscape, we see businesses pop up and close down within a short period of time. This can make a new business owner skeptical about opening a new business. However, there are three keys to success: innovation, adaptability, and customer satisfaction. These factors are intricately linked and play a critical role in determining the long-term viability of a business. Orcutt & Co. can help you stay on top of your small business finances. We are a small…

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staying compliant small business accounting practices

Staying Compliant: Small Business Accounting Done Right

By Business Advice

One of the hardest things to do as a business owner is to keep up with the latest legal requirements and accounting standards. The penalties for non-compliance can be crippling for your business. Therefore, it is critical to ensure that you’re staying compliant and honest in your financial reporting practices. Unfortunately, these legal requirements can sometimes be difficult for the average person to keep track of, especially when it comes to expense management. Therefore, it’s a good idea to have…

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Offer stock options for your small business

Should Your Small Business Offer Stock Options?

By Business Advice

If you’ve recently started a new business or you’re considering it, you should note that running a business involves a lot of activities that require the assistance of capital. If you don’t have capital funds, you don’t have a successful business. Therefore, if you don’t have the funds yourself, you may need to look for outside capital, such as deciding to offer stock options. You can obtain outside funding from investors in exchange for stock options in the company- but…

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Storing business receipts accounting bookkeeping

8 Tips for Safely Storing Business Receipts

By Business Advice

As a business owner, if you want your small business to run smoothly and efficiently, you must have a good organizational system in place. One of the biggest challenges when it comes to organization in a small business is storing business receipts. In order to keep track of your spending, file taxes properly/accurately, survive an audit, and monitor your financial health, it’s critical to find the system that works for you. You may find that it’s best to hire an…

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Ways your business can save money

Top 7 Ways Your Business Can Save Money

By Business Advice

As a small business owner, it’s important to find ways you can maximize profits while minimizing expenses. Nearly everyone will offer their advice on how your business can save money. While many of these things are obvious, there are also several things you can do that are more obscure. If your business is located in or near Cincinnati, Ohio, Orcutt and Co. can keep your finances in order. We specialize in payroll and tax prep, as well as monthly accounting and…

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Business owner relaxed in office small business outsource accounting

Why Should Your Small Business Outsource Accounting?

By Business Advice

As a small business owner, you are responsible for many things. Unfortunately, if you’re like many business owners, you may find yourself overwhelmed with time-consuming business responsibilities. The good news is, you can delegate some things by having your small business outsource accounting. This will allow you to focus more on the tasks that grow your business. If you have a small business in or near Cincinnati, Orcutt & Co. can help. We are equipped to handle your daily bookkeeping and…

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Business team clapping increasing employee satisfaction

6 Tips for Increasing Employee Satisfaction

By Business Advice

One of the key issues for small business owners is increasing employee satisfaction and retention. When employees stick around, they cost less over time than hiring new employees. In addition, they become familiar with your company and can help you grow. These days, employees are less likely to stay if they are not satisfied. Therefore, as an employer, you must focus on increasing their satisfaction to encourage them to remain loyal. Give them a reason to stay with you rather than going…

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Hire a recent college graduate work experience graduation new workforce

Should You Hire a Recent College Graduate?

By Business Advice

Once upon a time, landing a job right out of college was easy. After all, less than 5% of adults under age 25 held a bachelor’s degree or higher, which made them stand out from the crowd as having the skills and mindset to be productive. However, now more than 40% of adults in this age group have a college degree, which has led to this being a basic requirement for securing employment. But what about recent college graduates who haven’t…

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