5 Things Start-Up Companies Need To Know About Accounting

August 6, 2015 5:36 pm0 comments
5 Things Start-Up Companies Need To Know About Accounting

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.

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Managing Common Accounting Mistakes In Small Businesses

June 22, 2015 8:06 pm0 comments
Managing Common Accounting Mistakes In Small Businesses

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.

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Accounting 101… Just What’s In It?

July 2, 2014 1:50 pm2 comments
Accounting 101… Just What’s In It?

(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.

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How To Know If Your Accountant Is More Than Just A Number Wizard

February 24, 2014 11:49 am2 comments
How To Know If Your Accountant Is More Than Just A Number Wizard

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.

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Record Your Assets Through Proper Accounting Way

December 17, 2013 4:42 pm0 comments
Record Your Assets Through Proper Accounting Way

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.

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All About The Evolution of Accounting

July 28, 2013 1:30 pm0 comments
All About The Evolution of Accounting

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.

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3 Things You Must Provide Your Accountant For Maximum Benefit

July 24, 2013 10:15 am1 comment
3 Things You Must Provide Your Accountant For Maximum Benefit

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.

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What is a “Chart of Accounts”?

May 7, 2013 3:13 pm2 comments
What is a “Chart of Accounts”?

When a company’s accounting system is set up, the accounts most likely to be affected by the company’s transactions are identified and listed out. This list is referred to as the company’s chart of accounts.

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