By : Dan Radak *** At first glance, forensic accounting seems like something not even remotely related to your business. But this is not some CSI-level practice you see on a silver screen. Basically, it is a process of using various accounting techniques in order to solve legal problems. Hence, there’s a wide range of possible applications to your company.
By : Dean Bassal As the owner of a small business, you will often find yourself playing “jack of all trades” –...
By : Chelsy Ranard As the financial industry is fluctuating and unpredictable, likewise, financial accounting must...
By : Joseph O’Brien Lots of people who enjoy writing are not nearly as comfortable with numbers as they are with words....
By : Troy Martin *** Good accounting methods are essential to the success of any startup business. Unfortunately, in the excitement of starting a business, entrepreneurs sometimes make bad financial decisions that end up haunting them down the road. It is highly important that you pay attention to certain accounting details when starting your company, thus, laying down the track for your business to have a smooth-running financial future.Read more ›
By : Dan Radak *** For any small business, it is very important that you sift through the plethora of accounting applicants and software so you can choose the right one to keep your business up and running without losing any money. Make sure that you do not settle for mediocre accounting that can cost you a lot of money over a longer period of time because you will have to fix the mistakes frequently.Read more ›
(Re-post) *** Accounting is the language of business. It’s how a business “keeps score”. It is defined as the art of recording, classifying, and summarizing financial transactions and events. It deals with interpreting and communicating information about business operations and finances. So what’s accounting about? It is not just about mathematics, it is more than counting business.Read more ›
The business industry is all about venture and bottom-line business concerns. As Henry R. Luce quotes, “Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight”. In the end, all business operations can be evaluated by either of these two outcomes : success or failure.Read more ›
By : John Hivern *** Assets consist of two major components – cash and physical assets. While asset management is fairly an easy task, most of us – especially those who own small businesses- do not pay much heed to this essential task. The necessity of good practice dawns on us only when the tax season is round the corner.Read more ›
By : Frank Osgood *** Accounting has had a much more interesting run than one would think on first consideration. The man regarded as the father of modern day accounting Luca Pacioli, was one of Leonardo Da Vinci’s contemporaries and intellectual associates – he was one of the greatest thinkers of the Renaissance and also a magician – in fact much of his mathematical explorations and writings are closely linked with his interest in magic. If we head back to earlier eras – we’ll be able to chart the evolution of accounting from counting tokens to today’s more sophisticated payroll systems.Read more ›
By : Carys Faulkener *** Most business owners don’t have the know-how, time, or inclination to sort out their own books and taxes – that’s why they hire accountants. Nonetheless, even if you pay someone to help with your accounts, it doesn’t mean you can shirk all responsibility for keeping on top of the bookkeeping nor expect your accountant to do all the legwork. You can save yourself money and your accountant time by learning what information they will require when sorting out your tax return and those all-important end of year finances.Read more ›