Tuesday, February 7, 2017

China - small company - problems

Being a foreign owned small company in China has following financial/controlling issues:
- focus on sales not on spending
- try to break even by putting only paid invoices in the budget
- repeating the same financial mistakes over accouting period
- wrong cash flow planning
- short term financial focus
- asking for cash before focusing on return of the cash
- not dealing with RMB fluctuation
- facing an issue with local accountants

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