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In an research conducted by a U.S. bank, it's reported that 82% of companies fail due to the issue being the poor management of cash flow. A good accounting practice is essential to any business with a small budget to be able to control their finances efficiently and prepare their company to be successful.

Small business accounting includes financial practices to track as well as manage the business's finances such as inventory management and cash flow management. Take a look at this article for a thorough overview of the fundamental accounting practices entrepreneurs in small businesses need to know.