The Accounting Cycle 101
Published in
7 min readApr 26, 2022
Candace J. Dixon
According to a U.S. Bank study, 82% of businesses fail because of problems with cash flow. The top 3 accounting challenges faced by small businesses are: managing cash flow; covering unexpected expenses; and the reporting requirements of the U.S. Securities and Exchange Commission (SEC). Other issues include classifying employees correctly for payroll purposes; cybersecurity; and tax compliance issues…