Sy Syms Online Blog

With accurate financial statements, you can assess your company’s financial position and make strategic decisions to boost its performance. As a CFO, business owner, or management-level employee, you may use the statement of operations to compare your business with industry standards and identify where you can cut your operating costs.

A financial statement in accounting is a written record that shows the monetary activities and performance of a company's financial position. Read on to learn about the different types of audited financial statements, their purposes and how they are used—whether by organizations, governments or other stakeholders.

To understand where a company is going, you have to understand where it came from and its current state. If someone needs to determine the profitability and growth potential of a business, the first place to begin is with its financial documents. Perhaps one of the most important of those documents, an income statement shows all of a company’s revenues and expenses and is a key indicator of what’s to come.

Essential financial statements convey financial information about a company, including its business activities and performance. Read on to learn the four basic financial statements that every business needs to drive success.

Whether you aspire to be an executive, an entrepreneur or an investor, it’s important to understand the basics of a financial statement. Financial statements offer crucial insights into a company’s financial health and serve as the basis for company-wide decisions.

Discover the key components, strategies and optimization techniques that make supply chains efficient.

For a company to be successful long term, sustainability and social responsibility are no longer a luxury; they’re necessary for attracting both customers and employees. Following sustainable business practices allows a company to better position itself while also contributing to society as a whole.

A digital marketing strategy uses online channels to establish a presence and reach a target market. These channels can include social media networks, websites, paid advertisements and organic traffic from search engine optimization strategies.

Corporate scandals can damage a company’s bottom line and, in severe cases, put it out of business completely. To help prevent against the fallouts that usually follow a scandal, business ethics and corporate governance establish organizational values and set standards for decisions and behaviors.

There are endless opportunities for how to use data analytics in your organization. This article explores techniques, tools and best practices to transform data into meaningful insights.

Workplace conflict can be destructive and stressful if not managed properly. If you find yourself struggling with how to resolve disputes at work, this article explores effective strategies to strengthen conflict resolution and negotiation skills.

Understanding the subtleties of cross-cultural communication, as well as identifying and overcoming your unconscious biases, will make it easier for you to work for a global business and successfully build relationships with business partners from other countries.

Innovation is the process of developing creative and revolutionary solutions to business challenges and customer needs. The most innovative companies share eight characteristics and behaviors. Learn more.

Any successful business will use numerous approaches and skills to adapt to these changes and foster a positive work environment. This article explores business strategies that you can implement to help your organization overcome challenges and foster a strong culture.

Today, new fintech tools such as peer-to-peer payment apps and robo-advisors allow consumers to manage their finances independently and digitally. Let’s take a closer look at some of the biggest innovations in fintech and how they will change business for the better in the future.

According to WFH Research, the percentage of workers with hybrid or remote work arrangements increased from 4.7% to 27.2% between 2019 and 2023.1 Remote teams enjoy many advantages, but it also poses unique challenges for leaders and managers.

As consumers look for businesses' actions to align with evolving social ethics, corporate social responsibility (CSR) has emerged as a pivotal force in shaping the future of the business landscape.

Both state and federal government agencies are involved in regulating the professional conduct of accountants, and accounting industry regulations have evolved as changes in the business environment have created new ethical conflicts.

Weighing the pros and cons of both debt financing and equity financing can help determine when one method is more appropriate than the other. Participants in graduate work should be prepared to evaluate these options in their professional roles, backed by an academic understanding of both financing options.

Starting a new business can be risky, but the numerous benefits of entrepreneurship make this career path appealing to many people. Business founders become their own bosses and can achieve new levels of personal and professional freedom.

When you hear the word "forensic", you might think of crime scene investigations or historical artifacts—finance and accounting are likely far off the list. But within corporations and government agencies, both big and small, forensic accountants are working hard to follow money trails and calculate costs to find the truth behind numbers.

The operations of residential and commercial real estate have many similarities, but there are some key differences, as well. Residential real estate deals with structures in which people live (e.g., your house or apartment). Commercial real estate deals with the buildings where people work and transact business (e.g., a coffee shop or office).

Real estate has long been considered a good investment because of its potential for appreciation and its ability to generate a steady stream of passive income. For decades, people from all around the world have benefited from this valuable asset class by using it to build wealth and achieve financial security.

Even during an economic downturn, investing in real estate is a smart financial decision. Especially for buyers who plan to own the property for five years or more, purchasing a home is good protection against inflation.

In the business world, who you know is as important as what you know. References and recommendations can boost your spot among the competition, especially when you’re looking for a new job—having the right connection can mean the difference between securing the interview or getting buried in a sea of resumes.

For a business owner, lender or investor, a balance sheet provides a clear view into the financial health of a company. It’s a snapshot of the organization’s assets, liabilities and equity on a specific date—typically at the end of a month, quarter or year—which can be used to evaluate the business.

At first glance, the terms property management and property assets management look very similar—and in many ways, they are! However, a careful examination of real estate asset management vs. property management reveals substantial differences in the type and scope of responsibilities for real estate specialists who are looking to explore these important roles.

After several years of low inflation, consumers in the U.S. and around the world have seen their purchasing power pummelled by spiking inflation rates in 2021 and 2022. The Internal Revenue Service has offered some comfort for strapped U.S. taxpayers. In October, the agency released information on the annual inflation adjustments for the tax year 2023 with several adjustments around 7%. Learn more about the adjustments here.

Imagine that you’re at a conference looking to explore business opportunities and secure a job interview. You get into an elevator on the ground floor of the hotel you’re staying in, and, when the doors open, you see the CEO of your dream company standing inside. You’re both staying on the 12th floor, so you have a finite amount of time during this elevator ride to introduce yourself, express your interest in their company, and potentially, hopefully, secure a time to continue the conversation further.

When it comes to professional networking, LinkedIn continues to be the go-to platform for companies and individuals around the world. With accounts for over 875 million members, 57 million businesses, and 120,000 schools, the site has grown exponentially since its creation in 2003. Read our tips on how to network on LinkedIn and leverage its power to your advantage, grow your connections, and cultivate a strong professional network with significant benefits.

If you’re considering an advanced degree to help progress your business career, you’ve probably heard about some of the quantifiable benefits of an MBA. What is discussed far less often, however, are some of the more subtle benefits of an MBA. There are ways in which the degree and the work of pursuing it can help you in your personal life as well as your professional life, and it’ll continue to pay off well beyond graduation.

Learn more about economic Opportunity Zones and how you can take advantage of the tax breaks that come with them.

Real estate data analytics has transformed the industry, giving real estate investors an important tool for examining large data sets so they can understand what the data means and respond faster to market trends. Learn how investors can use real estate data analytics to gain market insights for a competitive advantage.

If you’re starting a business, one of the most important early decisions you will need to make is how to get your funding. That critical startup financing, and where you get that capital, will affect how you structure and operate your new company.

Discover seven important tips on how you can be an ethical landlord. Propel your career with an online master’s degree in real estate from Yeshiva University.

Accounting data visualization software has come a long way since the mid-1980s when the first inklings of it began to appear. At that time, Microsoft Excel was considered a sophisticated program and was used by many accountants to gather and present data. However, a lot of today’s financial applications have data visualization built in, with a much smoother and more streamlined experience.

Buying and selling real estate can be a highly lucrative activity for the right person, but not everyone has the self-discipline, motivation and ambition it takes to be successful in this competitive field.

Recent innovations in the realm of Web3 and blockchain, artificial intelligence, data analytics, open banking, and other technologies are a guarantee that the role of the CPA, and the technical skills required, will be vastly different than they were ten, or even five, years ago

Commercial real estate trends post-COVID mirror trends in the residential market, but there are added considerations because you must also consider the changing needs of tenants. Here's what aspiring real estate investors need to know.

There are many advantages to seeking advice from known leaders with proven track records. Entrepreneurs are naturally self-motivated individuals with driven, decisive personalities, motivated by the pursuit of success even in risky, unfamiliar areas.

Professor Mark Finkel shares how the optional residency program, offered in New York City and Tel Aviv, Israel, is a valuable MBA networking opportunity for online MBA students.

In today’s business, data is king. But when billions and trillions of bits of data are collected, how can we even begin to understand it? And, more importantly, how is anyone supposed to know what to do with it?

Creating a successful business takes more than a soaring vision and superhero chutzpah in the face of risk. For this reason, young entrepreneurs often find empowerment by following in the footsteps of successful business leaders. Jewish entrepreneurs likewise seek greater business growth through the examples and mentorship of market mavens who view success through a shared lens of faith and passion for Jewish principles.

Professor Mark Finkel has over 25 years of experience under his belt, working with early-stage entrepreneurial enterprises in Silicon Valley and around the world. See what he brings to his students at Syms.

Learn more about the man who wrote the book on entrepreneurship, his strategies for success, and his influence at YU Sy Syms.

Property managers and their businesses oversee the accounting, rent collection, maintenance and tenant placement of real estate. Everything from apartment blocks to government buildings use property managers to keep things running smoothly, and almost all of the day-to-day operations are on their shoulders.

A lot of terms tend to get thrown around in business without a specific explanation, especially when talking about finances; net revenue, operating income, and Cost of Goods Sold (COGS), for example. As a modern accounting professional, you’re expected to recognize, understand and utilize these terms and concepts when the need arises, even if you don’t necessarily use them on a day-to-day basis.

Earning your Master of Business Administration (MBA) is all-but-essential if you plan on ascending to a leadership position in today's competitive business world. Specifically designed for teaching management skills and business principles, an MBA degree also opens up networking possibilities and exposes students to job opportunities they wouldn't necessarily experience without participating in a graduate-level business program.

Retained earnings help show the true worth of a company and are an important factor in a business’s accounting. After paying dividends to shareholders, the remaining money is held in reserve called the retained earnings. These earnings can fund business expansion, the acquisition of additional assets, or a variety of ventures.

There’s no way around it: workplace relationships can be complicated. Sometimes, coworkers become close friends with whom you find yourself spending a lot of time outside of the office. Other times, you and a colleague might not be able to get along no matter how hard you try. When you begin to manage people, these situations can be especially tricky as you try to navigate different emotions and descriptions of how events have unfolded.