Reginald Chan

Author: Reginald Chan

  • Introduction to API Gateways and How to Choose the Right One

    Introduction to API Gateways and How to Choose the Right One

    An Applications Programming Interface (API) is a computing interface that allows applications to communicate and share information. In an API architecture, one of the most important yet less talked about pieces is the API gateway. It plays a very crucial role that contributes a lot to the successful survival of an API.

    Over the past few years, we have experienced a growing number of clients accessing data. They do this from different IoT devices, mobile applications, websites, and other web applications. Businesses are also coming up with solutions using APIs, transforming how they operate. For instance, AI and ML have completely transformed marketing today. This would not have been possible without APIs. Such things have led to a tremendous increase in the number of businesses relying on APIs for their day-to-day operations. 

    Due to this demand, the use of API gateways has also been on the rise. There are different types of gateways available with each coming with different types of features. It is not easy to get an API gateway that offers a solution to everything, but the right choice of an API gateway depends on the different needs of different organizations.

    What is an API Gateway?

    An API gateway can be defined as a platform that provides developers with a single point of entry to an organization’s backend services. The gateway is mandated with getting all the incoming requests and making sure that they end up at the right service. This setup makes sure that the backend services are protected by an abstractive layer and that all clients interact with a single interface. It also makes sure that the clients do not interact with any of the backend services individually.

    Furthermore, an API gateway comes with more features that enhance the efficiency, monitoring, and security of APIs. Some organizations use multiple API gateways depending on their requirements. This is largely attributed to the fact that they have different teams working on different APIs in silos. Managing multiple API gateways has made sure that they are able to handle their increasing and changing requirements without any issues.

    Choosing the Right API Gateway

    As discussed above, it is not easy to get an API gateway that works as a one-stop solution for all of an organization’s needs. However, the right gateway depends on the needs of an organization. That notwithstanding, there are a number of things that one needs to look at when choosing an API gateway. They include;

    Authentication

    You need to know how an API gateway handles authentication before settling on it. A gateway is supposed to authenticate all incoming traffic to ensure that authentication on different services is eliminated. This will, in return, improve the performance of your API.

    This means that you need to evaluate the authentication methods supported by a gateway. Some types of authentication supported include OAuth, basic authentication, LDAP, and API keys among others while other gateways might come with limited authentication options.

    Authorization

    An API gateway comes with policies set up in its configuration to make sure that a request has some restrictions on the services that it can access. This means that once a request has been authenticated, it is not just left to access any service that it feels like accessing.

    When choosing an API gateway, it is important to make sure that you understand the levels of access that your API offers. If you, for example, have subscription plans that offer different access levels to people under different plans, and you need to limit access depending on those plans, you should choose an API gateway that allows you to do that.

    Analytics and Logging

    There are API gateways that allow one to add functionalities such as analytics and logging. This is important in limiting duplication in different services. Other gateways allow one to integrate them with other applications that perform these functionalities. This allows one to monitor their APIs from the gateway.

    Make sure that you know the kinds of monitoring that you need for your API and choose the gateway that offers what you need. Also, you need to decide if you want to get gateway logs for integration with service logs or just rely on the service logs.

    SaaS or Self-Hosted

    Finally, you need to decide whether you will host your API gateway for yourself or you will use a cloud-hosted one. Even though there might not be many differences between the two options, a self-hosted API gateway provides more control and allows one to configure it the way they want. The only downside with it (though not quite an issue with experienced developers) is that you will need to configure it correctly and take full responsibility for maintaining it.

    Conclusion

    An API gateway is very important for any organization or developer that builds and depends on APIs for their activities. Apart from providing a gateway through which all requests go through and are directed, it also acts as a security layer and provides API owners with monitoring functionalities for their APIs.

  • The Entrepreneur’s Ultimate Guide to Making A Successful Online Course

    The Entrepreneur’s Ultimate Guide to Making A Successful Online Course

    With the prices of traditional academic learning now higher than ever before, online courses have transitioned from a supplementary source of knowledge to one of the most popular methods of learning worldwide. It’s one of the most impactful and fastest ways to spread knowledge to people around the world. 

    In recent years it has also become an essential tool utilized by entrepreneurs of all kinds. By teaching your specific field or skill, you can prove to people that you are indeed highly knowledgeable and worth investing in. In which case, an online course functions as a business card of sorts, attracting many to learn from your evident experience and possibly invest in your business as well. 

    Here are 8 steps for making a successful online course. 

    Choose Your Topic

    Your choice of topic is the foundation of your online course’s entire conception and success.

    You’ll want to choose a topic that you are highly proficient at, whether your knowledge is formal or self-taught. Most importantly, you need to choose a topic that you are passionate about, and this increases the chances of successfully engaging customers through your course. 

    These days any topic is fair game; to list the variety of courses on the market would be practically endless. Use this factor to your advantage and really choose the exact niche which you resonate with the most, and try to align that with what’s in high demand in your respective market. 

    Dictate The Course Outcomes 

    So you’ve found the right topic for you, the next step is to carefully decide on the outcomes of your course. These are the core deliverables of your course, what your customers will essentially gain from buying and taking your course, whether it’s new skills, knowledge, or an emotional impact of sorts, for example. 

    Not only will this be one of the unique selling points to your customer base, but it will also help to ensure that you attract the type of customer with which you intend to interact through your course.

    Gather Your Content 

    One of the reasons online courses and other methods of learning have become so popular is the sheer amount of rapidly developing information we are exposed to these days. So the art of gathering content for your course lies in what things to exclude, as opposed to what thing to include. 

    Your main focus is making sure every predetermined learning outcome has its own dedicated compilation of content. These will be the main influence of what content to include. Once that has been achieved, be sure to filter as much non-essential information as possible.

    Outline Your Course Structure 

    This is when you start organizing your gathered content into groups that share similar themes or ideas into modules. Once these modules have been grouped accordingly, they should then be ordered in a logical manner that flows naturally. 

    The progression between each of your modules must be smooth so that customers can easily digest the information you are providing over the span of the course. This tends to keep them more engaged and motivated throughout.  

    Choose Your Delivery Methods 

    The next step is to decide on which delivery methods to use for your course. A good rule of thumb is to include a balance of visual, audio, and practical methodologies amongst your course modules. It helps to do some prior research surrounding the learning preferences of your target customer base in order to cater the delivery methods to their needs. 

    There are several services that make this easy, even without prior teaching experience. Some online resources can give you insight into how an easy-to-use course creation platform allows you to focus on the content whilst tech, hosting, design, and marketing integration is taken care of. Another top tip is to try to keep things interesting, and courses don’t necessarily have to be purely informal. Some unexpected twists or tricks sporadically placed throughout the course can provide an element of surprise, keeping people interested. 

    Filming and Editing 

    Now that your course’s foundations are in place, it’s time to start actually filming and editing your content. There are many styles for filming and editing; most of the choices to be made relying on the preferences of your customer base. And what you feel the most comfortable doing as well. 

    Try not to convey things too simple, but also be sure not to overwhelm your customers with too many different elements all at once. You can do this with basic equipment at home and basic research on filming and editing, or you could do this with the assistance of a media production agency. 

    Pricing and Marketing  

    At the end of the day, the process of creating and operating an online course requires time, effort, and money. An investment on which you will expect returns. You must determine where your online course will fall into your existing business model or whether it will need a business model of its own. 

    Although there are no strict rules defining how to price and market a course, it should mostly abide by the general trends within your specific segment of the market, both in terms of pricing and marketing strategies. With Teachables offering bundle services, you can offer your online courses at a discounted price. It’s important to note that in some cases, courses can be provided free of charge as a means of attracting interest towards one’s primary product or service, in which case pricing is not an important element as profits are not the goal. 

    Set Up Your Online School

    There are 3 major ways to sell your online course:

    1. Online course marketplaces 
    2. Learning Management Systems (LMS)
    3. Plugins or software on your website

    The most comprehensive method is usually a Learning Management system (LMS). It simplifies the course creation and selling process in an all-inclusive package. It functions as your very own learning platform that you can then link to your website. This keeps all the maintenance and operation functions centralized on one efficient platform instead of integrating the different aspects across several platforms. 

    The steps in this article are by no means a comprehensive guide to creating your online course, but they provide you with the crucial elements you need to address throughout the process. By following these steps and putting them into action, you will find that the learning curve is exponential in this rapidly booming industry as you settle into things. 

  • 5 Most Common Types of Online Writers Out There

    5 Most Common Types of Online Writers Out There

    Writing is an art, as well as an instrument through which different kinds of information and educational material are shared. The majority of learning is actually made possible by written material. From as early as 3300 BC, writing systems have been around for millennia, evolving widely over the centuries. Thanks to a huge number of internet consumers in the present day, a lot of today’s writing is done by online writers.

    Now, just to set things clear, anyone with basic education can read and write, but not everyone can write readable material. To cement this even further, not everyone can write about anything. This is because writing is a process, one that involves creativity, conducting research, organizing your thoughts, and making the best use of your communication skills. Some of the best writers can turn an overly complex subject or piece of content into an engaging, and easily understandable piece of text. It’s a vast field, and this is why there are different types of writers. Some of them offer their services online, so you can choose depending on the purpose of the text you need. On this note, getting the best writer for your needs can be an overwhelming process.

    Whether you are looking to become an online writer or need to hire one, this piece is for you. To help make it less daunting for you, here are the five most common types of online writers you should know about.

    1. Essay Writers 

    For a good reason, students form a huge portion of clients who seek online writers. If you’re a student, you know all too well that your final grades will depend on your performance in essays, term papers, and projects. Purchasing essays online is a risky game according to betterwritingservices.com, considering the huge number of essay writing companies out there. To avoid frauds, late submissions, and quacks that could even plagiarize your work, it is best to conduct thorough research on the best essay writers out there. Professional reviews can help you make an informed decision.

    2. Content Creators

    Writing content for companies, websites, or media posts is common today. Writers in this niche are the most sought individuals because of their flexibility. These individuals can handle specialized topics or anything you need to be written. Many organizations are after them to provide content that will generate traffic to their websites.

    On the same note, blogging is a form of content creation that is gaining a lot of popularity. For this reason, bloggers are earning top dollar from this venture, either from their own blogs or as guest bloggers. The writing criteria used by these writers depend majorly on the client or audience’s preferences. To become one, you need to have good research skills, a creative mind, and some experience in the game.

    3. Copywriters 

    These are writers who simplify your brand, project, and service in a manner that customers can relate to. Most businesses use very complex terminologies and explanations in their guide, and this may not resonate well with the average consumer. Among other things, copywriters are usually involved in marketing campaigns, press releases, product descriptions, company handbooks, and newsletters. They are often hired by big companies to create promotional text in commercial prose. Some organizations reach out to copywriters when they need an enticing company slogan. This is why some of the best copywriters eventually get employed by production companies for commercial videos and infomercials. More often than not, their work also entails:

    • Producing social media content
    • Creating persuasive copies from simple briefs
    • Providing ideas or proposals for content concepts and strategy
    • Collaboration with other departments in the organization
    • Multiple projects relating to content advertising and marketing

    Copywriters analyze every detail of data given to them and present it in an enchanting manner. To get this right, they require a great understanding of the actual work. These types of writers are also sourced for editing jobs. This is because they pride themselves on the ability to produce a clean, flawless copy of the original.

    4. Ghost Writers

    These have great imagination and can shift their writing style to suit the clients’ needs. The categories they indulge in include books, autobiographies, articles, eBooks, websites, leadership notes, and any other written materials. All you need is to reach out and describe the nature of the work you require done. They can be very interrogative to capture the writing tone and angle you want to be showcased. The good thing is, they produce high-quality work and do not need any credit. However, in books, the client may choose to recognize them. Therefore, if you are on a time fix and need great content, these people got your back.

    5. Technical Writers

    These are people who have mastered the art of breaking down complex technical materials into layman terms. They create work like FAQS, user and instructional manuals, and reference guides. Their purpose is to make the end-user comfortable in using the product. This is achieved by giving an explanation of how, when, why a product should be used, along with other crucial information about it

    Most of these writers are experts in this field. This means that they have the skills and educational background to back up their work. However, their work is not limited to tech materials because they can write media posts and other content. These writers are above average because of their technical background as well as the ability to connect and collaborate with the company’s staff or team members.

    Most online writers have perfected their skills around a single line, perhaps the one they excel best at. Nonetheless, an expert writer will deliver high-quality and satisfactory work. To avoid frustrations, it is crucial to know the kind of online writer you need depending on the purpose of your text or content. The above few tips should guide you accordingly when hiring an online writer. In case you have a passion for writing and want to join the bandwagon, this piece should also help you in making an informed decision.

  • Making An App? Here’s What You Need To Know Before Launching It

    Making An App? Here’s What You Need To Know Before Launching It

    Starting a business, launching a new venture or making an app will be one of the most exciting and thrilling things you can do. You nurture this awesome idea in your head, get validation from others as to whether it’s worth pursuing and start working on bringing it to life.

    We all live in this wonderful, marvellous and adventurous technological world that allows anyone with the right motivation and guidance to start businesses and make a real difference in the world. The question is what you want from this life and if you have decided you want to make an app, it’s quite clear you have chosen the creative route. This path is not for everyone and if you are at the beginning of your journey into this world, brace yourself for a rough ride with ups and downs like you’ve never known before.

    The route to success in the app world is riddled with mistakes, pain points and lessons. You’ve got to strap in and become a real student of the game if you want to make this happen and realise your own dreams.

    So I’m Making An App, What Do I Need To Know Before Launching It?

    Be Prepared For It To Take Time

    Success in any sector does not happen overnight and it requires an enormous amount of organisation, dedication and personal commitment to launch an app. They say that patience is a virtue and it’s especially true in the sector given the complexity of the applications and the time it takes to actually build an app, test it and have it signed off ready for wider use by the public.

    Real Traction Takes Persistence

    Never give up and you will eventually get there. Persistence is a trait that all successful people own, and they never take no for an answer. Become a sponge, take in as much information and believe in the process. Keep reminding yourself that this will eventually happen for you, persevere and persist like you have never done before.

    This Is An Ongoing Process That Requires Constant Development

    Because you’ve already started down this path you will be more than aware of the ongoing work that is required when making an app. Don’t fall in love with each stage too much, find out what Performance Engineering is as chances are your first ever launch version will end up looking a lot different to the improvements you make down the lines. If there’s anything that the successful apps which have come before us have shown it’s that there will be multiple versions and stages of your app development.

    Be Ready To Invest At The Beginning

    This doesn’t necessarily just mean the financial side of things, but time, energy and effort. Building something from nothing and actually making a success of it is a product of extreme investment on the front end. Ensure you have your overall business plan ready, along with an idea of the team you want to build and experienced mentors in place to guide you through this whole process. Be ready to invest more time into this than you have any other project.

    You Need Exposure In Order To Explode

    So it’s all good and well to have a good idea for an app accompanied by the right levels of motivation and a solid plan, but how are you actually going to get your app to the masses? If you are serious about this and want to monetise the app then you need an action plan on how you are going to get real coverage and exposure.

    If you are struggling with this aspect of your plan, you could try:

    • Researching how the most successful apps build their user base
    • Speaking to someone who has done this before, employing them as your mentor to show you the ropes and share both their successes and mistakes with you
    • Joining a networking group or finding some sessions to join with other like-minded individuals who could offer you some good ideas or insights
    • Reading some books about how to make it happen in these areas

    This needs to be one of your overarching goals and be at the forefront of your mind on a daily basis. Yes your app might be amazing and could even be something that the market has never seen before, but if you don’t have engaged users then you essentially have nothing.

    This Is A Technical Business

    It’s understandable for you to get fully wrapped up in your own little world with your idea and the actual creation of the app. However, you need to be mindful of the fact there is a wider world out there once you have your app ready. 

    Where Are You Going To Launch It?

    There are certain platforms which you need to get your app registered and signed off by before you can start marketing it to potential users. The main and most obvious ones are for iPhone and Android, so starting to look into how this process works will pay dividends down the line. However, your app might not be targeted for mobiles or tablets so do a bit of research into the best platforms to advertise your app on once it’s ready to launch.

    Who Is Your Target Audience?

    You might have a fairly good idea in mind as to who the ideal person your app would be used by. Once you form and mould this, you can then start to envision the best ways to market the app based on location, demographic, age and copy or visual advertisements.

    It’s incredibly exciting that you are looking into or have already started this journey towards making your own app. If done correctly this can be extremely rewarding in a lot of ways, so throw yourself into the process and bear in mind the points we have discussed above. Taking control of your own life, steering the reigns and leading the way in your own destiny is the most fulfilling thing we can do and gives us complete power in life.

  • 10 Things You Didn’t Know About Bitcoin (Fun Facts)

    10 Things You Didn’t Know About Bitcoin (Fun Facts)

    Bitcoin and other cryptocurrencies are becoming more popular by the day. However, there is still a lot of confusion about what they are and how they work. In this blog post, we will discuss 10 things that you might not have known about cryptocurrency including its history, security features, and future potential.

    1. The Mysterious Creator

    A person or group of people, known as Satoshi Nakamoto, introduced Bitcoin to the world in 2009. He (or they) vanished from the Internet in late 2010 and has not been heard from since. Nobody is sure if he’s even alive or dead, which leaves his identity shrouded in mystery. The only communication with him was through emails and forums.

    2. The Satoshi

    The smallest unit of bitcoin is called a “satoshi”. One satoshi has an approximate value of $.0005 U.S., which is a very low value. To make one bitcoin, you need nearly 100 million satoshis. According to current bitcoin values (which are fluctuating), close to 15,800 satoshis would create one bitcoin.

    3. Losing Bitcoins

    Losing your Bitcoin address means you can’t find it. And when you lose your Bitcoin address, then all the bitcoins in that wallet are lost too. Research says that 60% of the people who use Bitcoins have lost their addresses and can’t get back into their wallets.

    One of the examples is many people lost a lot of Bitcoin when the Mt. Gox exchange closed in 2014 and it was found that they had been defrauding their customers for years by using transactions to alter balances on individual accounts. To date, nobody knows where those coins went. Its possible people who know about this might be hoarding them as an investment or speculating on future values of cryptocurrencies.

    I advise you to save your Bitcoin address in a secure place like:

    • Write it down and store the piece of paper somewhere safe, but not too secret (you might want to know where it is)
    • Keep it as an image file saved on your computer’s hard drive or USB drive
    • Using an online crypto wallet such as CoinBase or Luno (if you are residing in Asia)
    • Use a physical crypto wallet such as Trezor or Ledger Nano

    4. Liberland

    A small country (mini-nation) was born in April 2015. The country is called Liberland. It is between Croatia and Serbia. Some people think that it was founded by Vít Jedlička, a politician, publicist, activist and president of Liberland. He wanted to have a country he could govern himself without being told what to do.

    The country is situated on the banks of the Danube River, which forms a natural border with Croatia. The population is not more than 100 people according to Mr Jedlička- and I have never seen any mention anywhere that it’s anything other than “illegal”.

    5. Processing Power for Bitcoin mining

    Bitcoin mining is challenging. You need computational processing power which requires servers and electricity, not to mention time. The faster you are able to process the data, the faster your block will be added to the blockchain and you’ll be rewarded bitcoins.

    6. Power Consumption for Bitcoin mining

    Ireland consumes an estimated 5,000 kilowatt-hours of electricity each year. The bitcoin mining farms together consume around 60 terawatt hours of electricity, which is about 6 trillion kilowatt hours—a substantial amount of power. The entire country of Ireland, which has 84,421 square kilometers of area and a population second to only Germany, would consume less energy than bitcoin mining.

    7. Bitcoin Ban

    Bitcoin has been accepted as a form of currency in many countries around the world, but others have banned using it. Places including Bolivia, Iceland, Bangladesh and Ecuador completely prohibit its use while other countries such as India said they will explore Bitcoin but are not accepting it as legal tender.

    8. Limited Number of Bitcoins

    One of the most interesting aspects of bitcoins is their finite line. There will never be more than 21 million bitcoins in circulation, and that number is continually decreasing as people mine for it.

    The bitcoin mining process starts by a miner solving complex math puzzles to earn new coins. Every four years, the prize size halves to maintain an equilibrium between supply and demand.

    For bitcoin miners, this is an incredibly lucrative process because the cryptocurrency has been moving from being worth pennies to thousands of dollars. For example, in 2010 a person could mine 100 bitcoins in just five days with their computer’s CPU and GPU; now it would take years or even decades to find that many coins.

    At the end of 2020, there will be about 18.74 million bitcoins in circulation with a maximum total of 21 million coins.

    Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain. This block then makes up part of an overall “blockchain” that records all bitcoin transactions ever made on its way to the “consensus” blockchain, which is a public record of all transactions that have ever been made.

    Bitcoin mining requires miners to verify each transaction and add it an overall block. This process can take upwards of ten minutes on a laptop or up to hours using specialized equipment known as bitcoin rigs.

    The first cryptocurrency was introduced in 2009, making it one of the oldest forms of cryptocurrency. The first crypto coins were bitcoin and its derivative, Litecoin.

    Bitcoin has been a source of speculation ever since its introduction to markets in 2009. Investors have speculated that if they invest now, then at some point in the future their investment will be worth more than what they put into it.

    Bitcoin’s value fluctuates and the cryptocurrency has been introduced to markets during periods of high or low demand. When bitcoin is in higher demand, its price tends to go up. The opposite happens when it goes down.

    The so-called “blockchain technology” which underpins cryptocurrencies such as bitcoin was first conceptualized in 2008.

    9. The Power of “B”

    Bitcoin is actually the name of two different things. The first one (Bitcoin) is the cryptocurrency that allows for transfer of information, while the latter (bitcoin) refers to the computer system used to manage information about transactions on this Bitcoin network.

    10. Faster Than Supercomputers

    The world’s fastest supercomputer, the Summit, can work at 122.3 petaflops which is a quadrillion floating-point operations per second. The processing power of the Bitcoin network is about 80,704,290 petaflops but there are limits to what it can do. It only processes blocks in the blockchain and calculates the SHA256 hash which is a relatively simple computer operation.

    The processing power of one Bitcoin miner today can be equivalent to that of five supercomputers combined in terms of their computing abilities but it’s also important to know that there are limits on what mining operations can do with this level of computing power: they’re only able to process blocks in the blockchain and calculate SHA256 hashes.

  • Benefits of Hiring a Professional Accountant

    Benefits of Hiring a Professional Accountant

    Managing your business’s accounts yourself can be very tempting, especially if you want to save money. While there is a great benefit to be had in doing your own accounts, there is even more benefit in hiring a professional accountant to manage your business’s accounts for you. This article will tell you what those benefits are.

    If you do decide to hire an accountant, choose one carefully, because they may end up being your financial partner for many years to come.

    Here are the benefits of hiring a professional accountant:

    Errors in Accounting Can Be Disastrous

    If you are a business owner and you are trying to manage every single aspect of your business, including accounting, it can be very easy to miss important details or to overlook things. As your business and profits begin to grow, managing your finances can become very difficult. Unless you are a qualified accountant, it is almost guaranteed that you will make mistakes.

    When you do make mistakes in your business’s accountants, the consequences can ruin you financially. The most common mistakes made by businesses managing their own accounts are tax-related, and the penalties for mistakes of this nature can be extraordinarily high.

    By hiring an account, you can ensure that every single tax return is completed to precision. You can also ensure that your business’s books are kept up to date.

    You Save Yourself Time

    Time is the thing that most business owners find themselves short of. You may manage your own accounts to save yourself money, but remember, as a business owner, you are paying yourself for the time that you spend working on your accounts, and time is money. When you hire an accountant, even if they charge a lot per hour, they will take a lot less time than you would to go through your accounts, which in the end saves you money.

    By allowing an accountant to manage your finances, you give yourself the time to focus on other areas of your business that may need attention. You might be surprised at how much time you actually save when you hire an accountant.

    Record Keeping

    Accountants will keep meticulous records of your business’s financial history. This can prove to be incredibly useful. Keeping records of every single purchase that your business has made will help you to save money in the future. In fact, accountants will be able to highlight areas in your business that you can save money.

    Meticulous financial records will also allow you to identify if employees have been behaving recklessly with your money, which does happen.

    You Can Outsource

    Accountants do not need to be paid members of staff. Hiring an accountant and paying them a salary, as well as offering them benefits, may be impossible for your business. Thankfully, you can outsource your accounting. Accounting agencies exist everywhere from Idaho to Florida, so you should have no problem finding one for your business. But whether you hire an Idaho CPA or Florida CPA, remember to research them thoroughly, and read their testimonials and reviews. When you outsource your accountancy, you pay them only for the time that you need, which could just be a few hours a week.

    When your business has grown in size, you can begin to think about employing full-time accountants. Until then, make do with outsourcing. It is a powerful asset and, employed properly, can save you a lot of money.

    Tax Audits

    A tax audit is when the Internal Revenue Service investigates your tax return to make sure that everything is as it has been reported. While tax audits are not common, it is always worth having an accountant on hand just in case. This goes back to the previous point we made about errors in managing your own financial records. If you do make a mistake and it is highlighted in an audit, you will have penalties to pay, and with the IRS, ignorance is never a defense.

    Annual Statements and Quarterly Financial Reports

    For anyone who holds shares in your business, you will be expected to produce annual statements and quarterly financial reports. If you do not handle these properly, you can lose precious investors. An accountant, ideally, will have a length of experience in this area of accounting, and thus, will be able to satisfy your investors with well-drawn-up financial statements and reports. Quarterly financial reports can also attract investors.

    Forming a Bigger Picture

    Your accounts are not a burden – they are a great asset. As we mentioned earlier, an accountant will be able to save you money by examining your accounts. They will also be able to identify areas of your business that need growth and will tell you how you can reach those areas effectively. Many people have a very two-dimensional idea of what an accountant is. They do not just ‘file tax returns’ – they are planners, organizers, and key to your business’s success.

    Assisting With Financial Decisions

    If you have an investment that you want to make in your business, or in another business, then an accountant will advise you as to whether or not it is sensible, and whether or not it will benefit your business. It can be very easy when an opportunity presents itself to rush into it headfirst, but when you are managing your business’s finances, you need to slow down and give it some thought. An accountant’s advice when it comes to making financial decisions for your business is invaluable and should always be sought.

    You Buy Experience

    You may be a first-time business owner and may also be a novice in matters of business. An accountant, however, will have experience, and that is exactly what you are paying for. When you are struggling to make a decision, confused, or just need some advice, then an accountant is the best person to ask. They likely deal with tens of clients at one time, so are well-versed in business.

    Accountancy is an unfortunate part of being a business owner. Rather than burdening yourself with stacks of paperwork, hire an accountant, and you will immediately begin to save yourself both time and money. Thank you for reading this article, and please visit us again soon.