YOUR accountant resigns and hurriedly turns over the official business files to the newly hired replacement. You then find out that your finance officer inefficiently allocated a huge chunk of the budget for insignificant office expenses. On top of all these, your banker is on the phone complaining about irreconcilable documents.

The scenario is typical of the most common accounting problems that companies and businesses encounter. More often than not, they are also the simple reasons why many owners get buried in debt.

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