We use Arabic numbers today that were developed in the 8th Century, which were revisions of prior Indian numbers. Accounting as a formal discipline can be traced to the Persians of the 4th Century BC. Ancient Egyptians and Babylonians engaged in the counting and inventory of money.
Thus, one would assume that the financial aspects of modern business should be well cared for and in fine order. Yet, every day, businesses go bankrupt or have to be sold because the owners haven’t understood or utilized finances as well as our antecedents of eons ago.
A colleague of mine noted that “total days to cash” (TDTC) was an important consideration in business. In other words, how long until your client or customer pays? That gap means loss of use ...
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