🔂 Once again, here we go with the most-clicked articles from the Accounting Apps newsletter📧 during w/c 27.11.22:
How Much Cash Should a Business Have on Hand? | (Helm)
Reserve cash can be thought of as a rainy-day fund for your business. It’s separate cash set aside deliberately for unexpected scenarios, whether they be positive or negative. Cash on hand isn’t just limited to cash in your bank account it can also include assets you can quickly liquidate if needed. While no one can give a definitive catch-all answer for how much cash to keep on hand, there are guidelines that vary with industry, the stage a business is in, financial resources, past expenditures and business goals. Read more here.
Responding to a Data Breach: What the ACSC Recommends | (Practice Protect)
Recent cyber breaches have shone a spotlight on the importance of data security. From the Optus breach to the MyDeal one, and to the most recent Medibank hack, it’s emphasised now more than ever that any firm privy to client data should take their data custodian duty seriously. In light of these cyber events, the ACSC is reminding businesses to ensure their data is secure and to be aware of the Notifiable Data Breach Scheme. A data breach…
