Archive for the ‘Financial Statements’ Category

The Number Of Ways To Cut Down Costs Associated With Bookkeeping Services

Friday, January 11th, 2008

1. Provide complete and accurate information. Finding missing information and correcting mistakes costs time (and results in additional hours billed).

2. Maintain financial records, receipts, bank, credit card statements, deposit slips. Professionally prepared financial records provide powerful information that enables you to better manage your company. These records and reports enhance your business, so you may have an accurate picture of your financial health to make better business decisions. (more…)

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Accounting As Simple As It Gets

Tuesday, January 8th, 2008

Many people look at accounting and say, “Accounting doesn’t make a lot of sense.” Well I hate to be bold but there is no better way to say, “Hey I’m a moron, I shouldn’t be running a business.” Accounting is the story of your business and you should know not only how to read that story but how to tell the story. There are a lot of complex accounting issues, they can be a nightmare. The chances are that you will never deal with them. Don’t worry about the complex stuff, focus on the larger aspec of accounting. You should be able to understand ninety-nine percent of all accounting issues with just a basic understanding of the principles and constraints. (more…)

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Debits Credits And The Accounting Equation

Monday, January 7th, 2008

Why is accounting so powerful? It is because it is all based off of one simple accounting equation:

Assets-Liabilities-Stockholder’s Equity = 0

Assets = Liabilities + Stockholder’s Equity

Stockholder’s Equity = Assets - Liabilities

Liabilities = Asset - Stockholder’s Equity (more…)

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