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MCDA Daily
Your daily business tips


The Rise of Skills‑Based Hiring: What It Means for Small Businesses
The world of work is changing. As traditional credentials and rigid job descriptions become less reliable predictors of success, many companies — especially small businesses — are shifting toward skills-based hiring . This trend prioritizes what a candidate can do  over where they studied or how long they’ve worked. For small businesses, this could be a game-changer: it levels the playing field, widens the talent pool, and offers flexibility and potential you may not have con


Why Manufacturing Accounting is Different—and Why It Matters
Costs rise and fall. Supply chains shift. Regulations change. For manufacturers, managing Costs rise and fall. Supply chains shift. Regulations change.  For manufacturers, managing finances isn’t just about keeping the books balanced—it’s about staying competitive in an industry with constant moving parts. Traditional accounting methods often miss the unique challenges of production cycles, raw material costs, and inventory management, leaving manufacturers without the insigh


Year-End Financial Red Flags: What Businesses Often Miss and How to Fix It
As year-end approaches, ensuring accurate operational and financial reporting is crucial. Even minor oversights can cause significant ripple effects--disrupting cash flow, efficiency, compliance and ultimately weakening overall performance and stakeholder confidence. Below we share some of the most common red flags and overlooked items that can slow or complicate the year-end close process, along with tips to address them before they become bigger issues. Red Flags in Receiva


Financial Health Check: When and Why Your Business Needs One
In the fast-paced world of business, financial stability is key to growth and long-term success. A financial health check serves as a...
Nov 15, 20244 min read
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The Benefits of Outsourcing Your Cost Accounting: Save Time, Reduce Costs, and Improve Accuracy
Cost accounting is vital for any business looking to make data-driven decisions, optimize expenses, and improve profitability. However,...
Nov 14, 20243 min read
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Common Compliance Mistakes to Avoid in Business
In today’s regulatory landscape, maintaining compliance isn’t just a formality—it’s essential for the health and longevity of any...
Nov 13, 20243 min read
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Maximizing Your Financial Health: The Importance of Regularly Reviewing Financial Statements
In the fast-paced world of business, keeping an eye on your finances is essential for sustainable growth. One of the most powerful yet...
Nov 7, 20245 min read
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Cost Accounting vs. Financial Accounting: What’s the Difference?
Understanding cost accounting and financial accounting is essential for effective business financial management. Both serve different...
Oct 30, 20241 min read
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Why Operational Efficiency is Key to Lowering Costs
In today’s competitive business environment, reducing costs without sacrificing quality is essential for long-term success. One of the...
Oct 24, 20244 min read
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Top Accounting Tips for Effective Accounts Receivable Management
Managing Accounts Receivable (AR) effectively is crucial for maintaining a healthy cash flow and financial stability. Here are some...
Sep 26, 20242 min read
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The Key Benefits of Hiring a Virtual CFO
In today’s complex business environment, hiring an outside Virtual CFO (Chief Financial Officer) offers numerous advantages, especially...
Sep 20, 20241 min read
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Common Financial Reporting Mistakes and How to Avoid Them
Accurate financial reporting is crucial for businesses to maintain a healthy financial standing and make informed decisions. However,...
Sep 11, 20243 min read
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Essential Accounting Guidance: Why Growing Businesses Can’t Afford to Go Without It
As businesses expand, so do their financial complexities. Professional accounting guidance becomes critical to navigating these...
Sep 10, 20243 min read
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The Future of Accounting: Trends to Watch in 2024
The accounting industry is undergoing a significant transformation, driven by technological advancements and evolving business needs. As...
Sep 5, 20243 min read
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How to Prepare for an Audit: Best Practices for Businesses
Financial audits can be a daunting process for any business, but with proper preparation, they can also be an opportunity to improve...
Sep 4, 20243 min read
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Building a Resilient Business Through Strong Financial Controls
In today's rapidly evolving business landscape, the importance of robust financial controls cannot be overstated. Strong financial...
Sep 3, 20242 min read
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Common Financial Reporting Mistakes and How to Avoid Them
Accurate financial reporting is crucial for any business. It provides the foundation for informed decision-making, regulatory compliance,...
Aug 22, 20243 min read
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The Role of Outsourced CFOs in Strategic Business Planning
In today’s competitive business environment, companies are increasingly turning to outsourced Chief Financial Officers (CFOs) for their...
Aug 21, 20243 min read
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Cost Reduction Strategies Without Sacrificing Quality: Methods to Reduce Business Expenses While Maintaining High Standards
These strategies will help your business stay competitive, profitable, and poised for sustainable growth.
Jul 18, 20242 min read
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Improving Cash Flow Management: Techniques to Optimize Cash Flow and Maintain Financial Stability
Effective cash flow management is crucial for maintaining the financial health and stability of any business.
Jul 17, 20243 min read
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The Impact of AI on Financial Forecasting
Businesses that leverage AI's capabilities will be better positioned to make informed decisions, manage risks, and drive sustainable growth.
Jul 9, 20242 min read
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