Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly does the law of supply and demand work?
To correctly evaluate a company, and to be able to compare it with others, you require appropriate key figures. However, the profit at the end of the year is not the right choice for all situations. Business economists often use other comparison values. The EBITDA value emerges again and again in this context. But: what is EBITDA?
You rely on meaningful figures for running your company. The EBITDA margin gives you a powerful tool for measuring the profitability of your company in its day-to-day business operations so you can make corrections if required. You can ignore items which are not significant for the result of your company operations. We explain how to calculate the EBITDA margin.
Which business documents are subject to retention? Who is obligated to store them? 2 years, 6 years, 10 years: How long is long enough? The requirements for retaining commercial documents and their relevance to tax law can be confusing. We will guide you through the process and show you what needs to be kept by whom and for how long, as well as how to properly store business documents.
Saying no at work is a balancing act. On the one hand, it is important to show team spirit and sometimes to take on additional tasks even in stressful situations. On the other hand, people need to stay within their own limits so they can remain productive and motivated over the long term. With the right approach, you can do both.
Many U.S. companies must comply with records management or face hefty penalties. The Sarbanes-Oxley Act was passed in 2002 to crack down on corporate fraud and to regulate accounting in companies. Read on for more information about the requirements and what the act aims to achieve.
Whether in a workshop or an office: Things don’t always go as planned. The 5S methodology can help us carry out tasks more efficiently and make better use of available resources. Invented in Japan, it has already revolutionized the corporate world there. What’s behind the method, and how can its individual steps be integrated into daily working life?
Are you planning on setting up a side business and want to know how to go about it? Starting your own side business while working full time is a great way to minimize your financial risk. Test the waters, but first make sure you are legally registered and that you are even allowed to work on the side. This article contains a step-by-step guide on how to make the process run without a hitch.
Starting a new business comes with a great deal of new responsibilities and paperwork – wising up on the relevant administrative requirements for your business is a good way to avoid issues in the future. This is certainly the case for declaring tax – and to collect tax for your company you will need to register for an employer identification number (EIN), otherwise known as a sales tax number, or...
Do you want to bring a new product onto the market or offer a service that’s in demand? Then you first have to calculate the sales price. Doing this involves many factors. All conceivable costs as well as your profit margin must be incorporated into the price calculation. What are all the things that you should keep in mind?