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Principles to Avoid Bankruptcy
By siliconindia
Be Accurate and Timely
During economic downturn, those companies who fail to file their reports on time are the ones brought under the scanner. After several cases of bankruptcy, companies can get into problem due to the presence of inaccurate details in their financial reports. Before sending the final copy of the financial reports, make sure that all the entries are correct, have substantial backing in the form of bills, vouchers, and receipts, and have adequate foot notes, so as to provide extra information. Also, make sure to file the company reports on time, so as to avoid trouble from the stakeholders.
