Published: Mon, 16 Jan 2017 12:08:05 -0600
Tue, 10 Jan 2017 13:16:48 -0600Once your company meets the carrying capacity in a domestic market, you may start planning on looking for opportunities in a foreign region. There are a lot of benefits and opportunities you can get from international trade - ones that are otherwise unavailable in the domestic market. However, there are a lot of factors that come into play which most business owners are not prepared to face.
Mon, 02 Jan 2017 16:50:22 -0600Looking to hire a Certified Public Accountant (CPA) firm for your small business? Going the CPA way might actually make sense over hiring just any accountant. The problem is, how do you know which is the right CPA firm for you? Here are some of the factors to consider while selecting a small business CPA firm.
Thu, 29 Dec 2016 14:36:15 -0600Globalization plays a huge role in the world of accounting. It is a very significant topic because as globalization becomes more and more important, it changes which accounting principles one would use when certain situations arise. There are two sets of accounting principles: the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS).
Wed, 28 Dec 2016 09:07:31 -0600Implementing the right accounting software could dramatically improve your company's financial health. Whether the size and sector of your business, utilising modern technology can make your accounts more transparent and straightforward - as well as bringing a little fun to what can otherwise be an arduous task.
Wed, 28 Dec 2016 09:07:07 -0600If like many business owners you'd rather spend your valuable time focusing on building your company, rather than tirelessly inputting data, it makes sense to find someone to whom you can delegate this task. And what with the growth of technology, this has never been a more viable option.
Wed, 28 Dec 2016 07:28:06 -0600Sometimes Republicans don't get enough credit, but I believe they should. Luckily the Republicans hold thirty-one governor seats at the start of 2017. One of the most notable would be Scott Walker and in 2013 he was doing quite well, he had created a one billion dollar surplus for the state. I remember discussing this with our think tank back then.
Mon, 19 Dec 2016 09:53:54 -0600Role-based access system makes work easier for the employee as well as the management. Not only is the user given a single user name to access what can be accessed, the management is also ensured that information is secure.
Thu, 08 Dec 2016 09:58:18 -0600Some pro and cons about how globalization will be a factor in changing the accounting profession. How different circumstances will cause accountants to change for the better in the future. As well as threats that accountants will face due to globalization
Wed, 07 Dec 2016 14:30:09 -0600While net income and profits are important, the name of the game for small business is healthy cash flow. Proper accounts payable management can be an effective strategy in working capital management.
Thu, 01 Dec 2016 07:00:42 -0600Factoring is a financial transaction whereby a business sells its accounts receivable, that is the invoices it has raised, to a third party commercial finance company, called the factor or factoring company, at a discount. This is to tide over certain immediate cash needs which arise before the invoice can be paid because there is usually a credit period extended of 30 to 60 days to the customer.
Tue, 29 Nov 2016 08:01:57 -0600For accountants or accounting businesses, a major question always comes to haunt, how to succeed in the digital age when the business has to be more responsive to get an additional edge. This is a logical question and as a business owner, we must respond so that our services are enough competitive to meet the demand of dynamic marketplace. Traditional accounting practices have flourished over the years and have shifted from providing general bookkeeping services to advisory work while delivering higher value services to the valuable clients.
Mon, 28 Nov 2016 11:57:00 -0600Tally's features are unmatched throughout and offer state of the art services to all its users worldwide. Though it has several core features that a business requires, its hold on accounting is truly commendable. Despite that it's known for several other tasks, besides just bolstering the accounts of businesses.
Mon, 28 Nov 2016 07:54:06 -0600Efficient management of business is a key to success, but sometimes, even though having an excellent management practice at place, a business falls short to get the presumed growth and start running out of cash. The possible reasons for the business slowdown are: technological shift, economic recession, market changes, and social instability, among others. Whatever the reason is but the end result is always painful, and it prompts the business owners to make some drastic changes to re-plug the power button.
Wed, 23 Nov 2016 08:44:15 -0600Finding the right small business accounting software to match your needs is important. You want a program that is reliable and flexible. You need something that adheres to the methods that work for your business. At the same time, you want a program with cutting edge features so you can get more done in less time. It should be easy to work with and affordable.
Wed, 23 Nov 2016 08:43:55 -0600You can't go wrong with Xero accounting software because it has professional elements to help you keep track of your business money. This includes your expenses, income, and to identify your overall cash flow situation. The checks and balances system reduces the risk of mistakes and common errors. It also helps you to reconcile your bank statement in no time at all.
Fri, 18 Nov 2016 10:15:34 -0600Cash is the lifeblood of a business. No business owner wants to see their business struggling because of lack of funds or in debt due to mismanaged finances. What they want to see is a regular flow of profit but this is easier said than done.
Thu, 17 Nov 2016 07:21:42 -0600Sage has renamed its premium product PeachTree accounting as Sage 50. With Sage 50, Sage has inserted numerous important accounting features to make the accounting operations more effective. Sage 50 cloud has the best remote usage option for Sage 50 to increase the productivity of the accounting program.
Thu, 17 Nov 2016 07:08:28 -0600The advantages you can experience from a bank will depend greatly on the financial institution you will choose. This is because aside from the benefits they offer, some banks will have features that will also help businesses in various ways. Below are some of the important banking features you should look for when opening a business bank account.
Mon, 14 Nov 2016 09:02:48 -0600U.S. GAAP are the generally accepted accounting principles accepted in the United States. U.S GAAP was published by the Financial Accounting Standards Board, FASB, and adopted by the U.S. Securities and Exchange Commission, SEC. IFRS are international reporting standards issued by the International Accounting Standards Board, IASB. IFRS is used in over 100 countries, which is a main reason the SEC intends to switch from U.S GAAP to IFRS, but the progress has been slow. There are similarities between the frameworks, but also some substantial differences exist between the two accounting standards.
Wed, 09 Nov 2016 07:05:57 -0600Accounting application helps in increasing the efficiency of the business by making sure the activities of the business, ranging from error free bookkeeping to well-kept payrolls. Also ensured is that the records that are kept can be accessed easily and faster. This means the business maximizes from what resources it has.
Mon, 07 Nov 2016 09:10:51 -0600Balance sheets play a critical role in any business, regardless of that business's size, age, and industry. They can be beneficial for small businesses too, and that's the reason many small business owners prepare them. Any company with shareholders needs to prepare a balance sheet, otherwise known as a Statement of Financial Position.
Fri, 07 Oct 2016 09:35:44 -0500Among range of critical aspects that a small business entrepreneur has to deal with, proper maintenance of regular financial accounts is one. Yet, they are found neglecting this sector by believing on a false facet that it can be managed later. Then there is a belief in the corporate world that for small business, there is no need to appoint deft accounting and bookkeeping service providers either. A big mistake indeed! That is because a minimal error in this segment may lead to huge losses and regaining a proper prospect in this competitive corporate world from such situation is simply impossible.
Tue, 27 Sep 2016 08:59:34 -0500If you are looking for an efficient and more effective way of managing and tracking your business financial transactions, you may want to consider putting your financial data in the cloud or using a cloud accounting system. The cloud is basically a term used to refer to the internet. And cloud accounting is an efficient method of managing your business online.
Tue, 27 Sep 2016 07:29:40 -0500Fuel inventory keeping is a delicate task. With the number of legal provisions to be, followed businesses can make use of accounting application, whether dedicated one for fuel inventory or the ones that can also account for inventory management.
Mon, 26 Sep 2016 10:30:41 -0500Whether you are a private individual or a company, making use of financial management consulting services can prove very beneficial. These professionals have years of bookkeeping and accounting knowledge, which they use to provide you with a complete consultation service designed to help you maximize your cash flow and make necessary plans for financial growth moving forward.
Mon, 26 Sep 2016 10:30:18 -0500When it comes time to completing your tax returns, you may find yourself in a cold sweat and not knowing what to do. Maybe you have heard of tax accountants, but aren't sure exactly what they do or whether you will actually benefit from making use of their services to help you or your company manage your tax year after year.
Mon, 26 Sep 2016 09:14:59 -0500Data security tops the chart when any individual or businesses use an app. With Tally ERP 9, one can be rest assured about the security about their data as the latest version protects the data like never before with several inbuilt features even when it's accessed remotely.
Fri, 23 Sep 2016 13:58:42 -0500This article identifies the components of one particular financial statement: Statement of Financial Position (also known as the Balance Sheet). It also clearly defines these elements and brings them together to provide you an example as to how the balance sheet is presented for financial statement purposes. Lastly, we also look at how the fundamental accounting equation (Assets = Liabilities + Owner's Equity or Shareholders' Equity) is linked to the Balance Sheet.
Fri, 23 Sep 2016 08:56:15 -0500There are all kinds of ways that people get into debt, but all of these ways stem from the same mind traps, financial predatory scams and fiscally unhealthy actions. By adopting these six healthy money habits you can stay out of debt.
Tue, 20 Sep 2016 11:03:13 -0500For initiating good habits, as such there is no time boundation, which goes same for maintaining all the information regarding income and expenditure of any institution. Be it a profitable or a nonprofitable institution, it becomes very essential for them to keep a track on all the flows of funds, as proper financing or accounting records are the foundation of a well run nonprofit organisation. A fine maintenance of records would help the institution in serving the members in a better and enhanced way that includes the following points: A proper recording system helps...
Fri, 16 Sep 2016 14:07:55 -0500Don't let confusing tax laws stop you from owning your own business. Here are five tax services available when you hire a Certified Public Accountant.
Tue, 13 Sep 2016 15:34:50 -0500When it comes to accounting, small mistakes can have huge impacts on your business and they can determine financial status of your company. For this reason, every business needs an accountant it can fully rely on to meet expectations and growing the business in the right direction. The skills your accountant has as well as how they maximize on core aspects of personality will determine how valuable they are to your business especially in helping you make all the right financial decisions. When finding an accountant for your business, therefore you should look at traits that will make them exceptional in delivering.
Fri, 09 Sep 2016 07:37:03 -0500The comic book character Clark Kent worked as a reporter. If he wanted to make a real difference without a cape, he should have been a CPA.
Fri, 02 Sep 2016 07:22:14 -0500Real time accounting comes with a number of benefits help in making better decisions - and faster at that. Accounting applications come equipped with features, in collaboration with cloud computing, that makes it possible for the management to take their business forward.
Mon, 29 Aug 2016 07:48:02 -0500Balance sheet forms a part of financial statements that is obligatory to be prepared at the end of financial year. Use of accounting application facilitates its preparation while ensuring it is error free and therefore reliable.
Thu, 25 Aug 2016 09:55:57 -0500We discuss the important recent developments in accounting such as cloud accounting. Compare them with the traditional accounting methods of the past.
Wed, 24 Aug 2016 13:18:38 -05001. Firstly this form of taxation reduces tax evasion and avoidance by MNEs. 2. Secondly, home countries can find little tax revenue from foreign affiliates as the foreign income is just taxed when it repatriates and foreign taxes are credible against the home tax. 3. Unitary taxation also helps in raising the share of Global MNE rents which are received by poorest countries. The government is continuously trying to devise measures by which misuse of transfer pricing takes place. Some of the ways by which misuse of transfer pricing can be curbed are with the help of arm length principle for the intra-firm sale of goods and services. Thus firms have to be continuously vigilant about these measures and devices for it is they who have to pay for goods and service while purchasing it from the related enterprise. At such time, for firms, the best option is to associate with experienced tax and accounting consultants. They help companies in strategizing and policy development, help businesses to reduce the impact of year-end adjustments, monitor transfer pricing footprint and coordinate across organisations. And most importantly these tax consultants assist in delivering timely risk assessment and management services.The conventional international approach
Wed, 24 Aug 2016 08:32:45 -0500Most small business owners compromise their financial integrity and leave extra money on the table for Uncle Sam by mixing personal and business finances. Here are some simple ways to gain clarity and regain whats yours.
Wed, 24 Aug 2016 06:57:52 -0500Cash flow statement, like other financial statements, plays an integral part in understanding the state of business, especially its liquidity. Therefore, it should be prepared attentively. Accounting applications help the management in this regard.
Tue, 23 Aug 2016 13:42:30 -0500Today, most of the small, medium and big sized companies use Tally ERP 9 version of Tally for their daily accounting purpose. The flexibility and the ease of using this specific software has led to this transformation. With Tally, expanding globally, the list of its presence and use only continues to expand.
Mon, 22 Aug 2016 15:32:40 -0500No matter what business you own, whether small or large, domestic or multinational or any type you can imagine, the bills are always the most important factor that is going to play a vital role in managing the money flow of your company. Although, it is just a piece of paper but it keeps the business run smoothly by maintaining all the records of deals that a company undergoes. It helps you to manage and monitor the daily transactions.
Tue, 16 Aug 2016 09:17:53 -0500How do firms choose their overhead cost assignment? How do firms choose optimal cost management based on critical production activities that create and capture values? What is the nature and function of cost assignment? What are sources of cost indicators or cost drivers? What are some policy implications of the Activity Based Costing in formulating effective cost assignment and cost management strategies? These managerial accounting questions relate to effective cost assignment and optimal cost management strategies of a business enterprise-the appropriate mix of costs management strategies that maximizes the return on investment and shareholders' wealth while minimizing the cost of operations, simultaneously.
Tue, 09 Aug 2016 07:00:20 -0500The latest evolution of web-based computing, cloud computing has completely revolutionized the way of doing business as it offers compelling benefits in terms of performance, speed, efficiency and cost. In fact, as the technology is improving with time, professionals are seeking new and efficient ways to leverage the power of cloud in business activities to outperform the increasing competition. Industry experts are putting their best foot forward to harness the power of cloud computing and drive innovative technologies for the betterment of the modern business world.
Fri, 05 Aug 2016 15:33:35 -0500The accounting profession is usually slower to catch on the rapid changes in technology as many other industries. So many accounting firms are yet to wake up to the tremendous opportunities offered by cloud accounting.
Wed, 20 Jul 2016 14:54:40 -0500Cloud accounting offers the best possible solution, one that allows you to hold on to your staff and keep them engaged in the most efficient manner possible. It allow multiple members of your team can work jointly on a file or data.
Mon, 18 Jul 2016 08:35:06 -0500The Financial Systems and Solutions pillar of financial success focuses on processes and software solutions. It allows you to put emphasis on the people and processes in your business.
Wed, 13 Jul 2016 07:05:23 -0500Whether you will be starting a small or large venture, one of the important tasks that you have you do is to set up a business bank account. If it's your first time to open a business bank account, below is a guide and some helpful tips that can help you with the whole process.
Tue, 12 Jul 2016 13:48:13 -0500Small businesses can make sure that they too can compete with well-established businesses. Hiring the right professionals to help you out is indeed a must.
Fri, 08 Jul 2016 06:59:14 -0500Ensuring that a business is set up for success require a strong foundation. A foundation that consists of Financial Management.
Wed, 06 Jul 2016 07:21:55 -0500Corporate credit cards are meant for the convenience of users. Later on, there will certainly be features for other special provisions.
Tue, 05 Jul 2016 14:28:04 -0500The benefits of using a Debt Recovery Firm, and making sure you're the one that's in control. Finding the right company that will give you more than just lip service to your concerns and still keep your reputation in tact.
Fri, 01 Jul 2016 11:37:48 -0500Organizations have to make vital decisions to sell their products. An efficient revenue management strategy assists in the decision-making process. Please read this article to get an insight into revenue management.
Wed, 29 Jun 2016 10:05:23 -0500Tax planning will help a small businesses find a convenient and better way to conduct business and manage personal transactions for better tax savings. This article will detail how a company can save on their taxes and reduce overall expenses with quality tax planning.
Tue, 28 Jun 2016 08:01:14 -0500We all agree that every strong structure needs a solid foundation to prevent it from crumbling to pieces. This foundation is the basis or shall I say is necessary in order for a structure to withstand the earthly elements and be around for awhile.
Tue, 28 Jun 2016 07:59:49 -0500How many times have you looked at your bottom line and you were shocked and amazed? You thought to yourself "where did the money go?
Mon, 27 Jun 2016 11:37:05 -0500Having your accounts done well is a crucial aspect of your business, as this will ensure that you can stay on top of your finances, avoid charges and fines, and even improve your cash flow so that you are better able to plan for your business success. Nevertheless, accounting is a skill that does not come naturally without training, and therefore finding a good accountant is essential.
Wed, 22 Jun 2016 14:16:54 -0500No matter the type of business you are in, the core of your business must run smoothly to increase the effectiveness of all that is done within your business. Every aspect of the business will impact on your Cash Flow at some point, so it is important that the financial heart of your business is operating at maximum efficiency.
Fri, 17 Jun 2016 07:41:03 -0500For new companies, one of the greatest challenges faced during the formative stages of the start-up process is inconsistent profits. New businesses might make massive sums of money one month, only to flounder the very next. Fortunately, there are a number of things that they can do to weather these rough periods while proactively working towards larger and more consistent profits.
Thu, 02 Jun 2016 15:13:43 -0500Accountants are qualified practitioners of accountancy or accounting. Accounting could be defined as a disclosure, measurement; verification and provision of financial information that assists others in making informed choices when assigning limited resources.
Wed, 25 May 2016 10:55:22 -0500Lucky you! Your sales pitch is working and clients are stacked up like planes landing at O'Hare. Receivables are numerous and the balance sheet rocks. So how can it be that you almost didn't make payroll (again)? How can you come up short on cash with all the business you're creating? Like so many business owners, especially those who are new or those who suddenly acquire a competitive advantage that creates a tidal wave of business, you did not recognize the signs of an approaching cash-flow crash, imdependent of how much money would eventually flow into your coffers.
Wed, 25 May 2016 08:34:32 -0500Trends are showing that more small businesses are making room in their budgets for bookkeeping services, and to the delight of many it's more affordable than ever. Especially when taking into consideration the benefits that come from doing so, which far outweigh the cost.
Tue, 24 May 2016 15:50:50 -0500Small or medium business, no matter what the state is; entrepreneurs to managerial heads are always in search of some helpful facets that ensures proper functionality of an entity. Easy performances without any hassle, time and risk management process are some of the mentionable aspects in this respect. No wonder, such attributes are eligible in a more flexible and confident way if the financial supervision is done with accuracy and appropriate measures.
Tue, 24 May 2016 14:14:22 -0500Here are some not so obvious signs that you may have lost financial control. If you can spot them now and make the recommended adjustments, you will be able to bring your financial management back on track.
Tue, 24 May 2016 10:47:05 -0500CFOs can help lead the charge when it comes to growing your company. Because your business strategies are deeply woven in with your financial strategies, you need CFO support for any and all of your growth initiatives: from the planning stages through to execution.
Fri, 20 May 2016 15:43:40 -0500Once you begin to use QuickBooks, you will for sure incorporate it in your business as it is the most favorable accounting tool that a business can ever have to explore the smartest way to accounting. It's simple to use interface confers various significant attributes to make accounting tasks easier. This article focuses on describing QuickBooks' abilities to extract facilities to make accounting more convenient for you.
Mon, 16 May 2016 14:55:57 -0500Most companies overpay on utility, telecom, and waste invoices simply because of errors and overcharges. Don't let seemingly innocent charges steal dollars from your bottom line.
Thu, 12 May 2016 09:50:26 -0500If you (or your boss) are measured by your company's Return on Invested Capital (ROIC) or a similar metric, then you want to turn assets into cash. Whether the message comes down from the Chief Financial Officer (CFO) or even private equity investors, either way it's pretty much the same thing: free up cash from the business. Inventory optimization is one proven way to do it.
Thu, 12 May 2016 06:22:33 -0500Several people around us have far-reaching dreams of owning a business of their own. Simply dreaming about a large business isn't sufficient as it involves several aspects that need to be taken care of.
Tue, 10 May 2016 13:29:40 -0500The impact globalization has on taxes is a subject that has been up for debate for years. There is little definitive or consistent evidence that indicates how globalized trade can affect a country's tax policy, despite the fact that the subject has been researched and discussed at great length. It would be more appropriate to say that there is probable, yet questionable evidence of a connection.
Tue, 10 May 2016 12:29:17 -0500QuickBooks' emergence as a robust accounting tool to fulfill business accounting needs. While using such a complex accounting software, sometimes it's working efficiency might get slow in terms of affecting productivity. This article presents some tips to speed up QuickBooks performance to get over slowness of QuickBooks tasks.
Thu, 05 May 2016 07:40:48 -0500Business owners rely on clients to pay their bills. When customers default on financial obligations, the owner of the business suffers monetarily. Collecting on a bad debt can be particularly challenging if the person who owes it refuses to communicate with the company or fails to uphold his or her payment arrangement. Because you may have other tasks that need to be focused on at your company, you might find it better to hand off delinquent accounts to professional recovery services. You may be convinced by considering some of the advantages about this option.
Thu, 05 May 2016 07:10:28 -0500Why should I move from spreadsheet bookkeeping to using accounting software? Let us consider whether staying with a spreadsheet or moving to accounting software like Xero is better for a small business.
Wed, 04 May 2016 09:39:44 -0500Things you should be doing to make sure your accounting data is current. These items should be done once a year so you have no issues with collecting money or paying bills.
Mon, 02 May 2016 09:01:21 -0500Companies will find that they will enjoy a host of benefits when it comes to using management accounting services. The benefits are numerous and when you choose a professional service to provide you with the management accounting process, you will find that you don't only save money, but you save time and energy while freeing up essential resources on a daily basis.
Fri, 29 Apr 2016 09:29:14 -0500Simply put, Accountants are professional practitioners in the field of accounting. They're individuals properly trained in several areas of accounting including auditing, bookkeeping, and analysis of accounts. Also, they are responsible for the preparation of annual financial statements which are used by decision makers in the company, tax authorities, and shareholders. More importantly to their employers or clients, they offer information on tax and tax laws, investment, and assessing the financial standing of organizations to make sure that there's no wastage or misappropriation of resources within a company.
Tue, 26 Apr 2016 11:16:07 -0500Globalization of accounting knowledge and standards is growing increasingly more necessary by the day, and that trend certainly doesn't appear to be shifting any time soon. With technology bringing the entire world together at the click of a mouse or a tap on your phone, the business opportunities are endless. Every business across the Earth has the ability to find and interact with any other business in the world, regardless of the size of the business. This is a very good thing in the business world for sure, however, it brings with it a need to learn not only your own accounting practices (which some students might argue is difficult enough as it is) but also the standards and practices of those who you might be doing business with.
Mon, 25 Apr 2016 14:38:52 -0500The Global Accounting Alliance (GAA) is an alliance of the top 10 professional accounting bodies of the world. They include the U.S...
Wed, 20 Apr 2016 11:36:30 -0500The threat of Tally piracy has hit the two decade long accounting company in a big way and has been a never ending struggle for the accounting master. This article illustrates how Tally has coped up with this threat and what it intends to do in the near future.
Tue, 19 Apr 2016 13:56:19 -0500Cutting Expenses for your business. What to look at when you need to cut expenses.
Mon, 18 Apr 2016 13:26:29 -0500Accounting is part of the business sector and with the increase of companies going worldwide, accounting continues to be globalized. Accounting education used to focus on the study of the Generally Accepted Accounting Principle (GAAP), but now must also include the study of International Financial Reporting Standards (IFRS).
Thu, 14 Apr 2016 14:01:10 -0500Globalization is the development of worldwide integration. More specifically, it is the process of combining the economics, societal values, and cultures through communication and trade. Because of this, it is a key factor to be aware of all of the world's environments and motives. The idea of globalization comes with several positives and negatives. Positives including the fact that the world will be more unified. However, people fear that this will bring the world to a more communistic society with sweatshops and degradation. Globalization is seen as inevitable and impossible to prevent, but not everyone approves of the changes occurring. It is affecting so many industries and studies as a whole. The education of accounting is a prime example of a study facing the many effects of globalization.
Thu, 14 Apr 2016 13:54:48 -0500In many developing countries, particularly MDCs and LDCs, there is an epidemic of poor accounting practices due to the use of obsolete practices and lack of qualified accountants. By reviewing past situations of accounting in developing countries and placing a greater amount of importance on the issue developed nations can begin to work with less developed nations to install a productive accounting system.
Thu, 14 Apr 2016 10:01:03 -0500How to manage cash flow. This is an important issue for a small business.
Wed, 13 Apr 2016 12:35:57 -0500The benefits and challenges of converging IFRS and GAAP. Having one global accounting standard has its advantages and pitfalls.
Wed, 13 Apr 2016 10:59:34 -0500Harmonization of accounting standards did not present itself until the 1990s when the accounting board talked about a new technique to use internationally. The main effort for implementing harmonization of accounting standards was to better business practices from country to country. Different countries may have different accounting standards so in order to do business; they need to be following the same accounting measures.
Wed, 13 Apr 2016 07:07:00 -0500In today's data-intensive market landscape, analytics plays a significant role in keeping a business agile and competitive. Financial analytics is one key area that enables organizations across industries to truly predict the future of their strategies and goals, and take mindful decisions that can foster their growth.
Tue, 12 Apr 2016 14:06:32 -0500Accounting can be a funny thing, for the untrained eye, profits (or losses) in financial statements, create more confusion than anything else. Every entrepreneur, knows his bank balance. But they do not have a firm grasp of the meaning of profit. No, it is not bank/cash receipts, less payments. Having a healthy bank balance is great, but without an interpretation of "profits", from an accounting perspective, that healthy cash balance is at risk.
Fri, 08 Apr 2016 15:14:51 -0500Although the terms bookkeeping and accounting may seem interchangeable, they involve different skill sets. Learn the similarities and differences between these two occupations.
Fri, 08 Apr 2016 08:26:51 -0500In this paper I plan to discuss the changes that have affected the way accounting was taught in the past. Also how those changes have changed the way accounting is taught now and how it still has to be changed in the future. Also the convergence from GAAP to IFRS that will cause some big changes in the accounting textbooks and the amount of information accounting students will have to know in the future.
Thu, 07 Apr 2016 14:59:52 -0500Getting a business off the ground takes a lot more than just money. Successful businesses are different from the rest in that they shrewdly delegate operations to concentrate on high priority issues. Prioritizing operations is the key to success. You wouldn't want to be pulled down by finance and accounting procedures and unclosed books. Closing books in as few cycles as possible helps in benchmarking finance process and meeting regulatory requirements.
Wed, 06 Apr 2016 12:51:36 -0500Outsourcing is defined as obtaining goods or services from an outside or foreign supplier, especially in place of an internal source. This, along with other foreign transactions, is a huge reason for the recent interactions and integrations performed between different nations, which is known as globalization. Most of the outsourcing is comprised of activities such as marketing, research, diagnostic services, and engineering, but recently there has been accounting work that was also outsourced.
Wed, 06 Apr 2016 09:05:27 -0500Accounting standards must be in place to ensure factual information is recorded. Without a set of rules, misallocation of resources can result and prove fatal to the company. In developing countries there is a lack of comparability and consistency with various company's financial statements. In our growing global economy, it is pertinent that these developing nations adopt a set of accounting rules that will keep them on the same page with other global companies.
Mon, 04 Apr 2016 10:45:12 -0500I recently did a workshop on budget and finance. The first part of the day we talked about the importance of a budget and how to make a budget.
Fri, 25 Mar 2016 11:02:43 -0500Ratio analysis, vertical and horizontal analysis, year-to-year change analysis and other main methods of the financial statement analysis of an enterprise. Brief introduction and explanation of each financial statement analysis method.
Fri, 25 Mar 2016 09:01:28 -0500While the major areas of IFRS and GAAP are similar, there are many areas where the two differ. One of those areas in which they differ is in how they deal with income taxes.
Thu, 24 Mar 2016 12:33:48 -0500Many developing countries suffer from a degrading economy. One of the contributing elements to their downfall is the lack of proper accounting standards. These countries endure a variety of accounting errors. Therefore, they are the ones who will experience the consequences. A solution needs to be addressed for this problem in order to establish adequate accounting policies and regulations for developing countries.
Tue, 22 Mar 2016 13:35:05 -0500Knowing whether your financial figures are correct can be critical to small business owners in helping them with their decision making. Trying to run and grow a small business with unreliable or credible data is not only stressful, but can also lead to the wrong decisions being taken. Worst still, lack of reliable insight into your business performance can lead to procrastination. This article provides some simple checks any small business owner can make. These will help you assess whether your business performance is being correctly reflected in the numbers or actually, is it that your numbers are not being prepared correctly?
Mon, 21 Mar 2016 09:08:51 -0500When you are operating a business, you already have a lot of responsibilities on your shoulders. Your main focus is to keep things running smoothly and to make a profit. Maintaining the record books is something that you may not always have time to do.
Thu, 17 Mar 2016 14:51:28 -0500Tally ERP 9 forms an important accounting software in today's business world. This article states the fundamentals of this accounting software and the salient features along with the technological benefits.
Thu, 17 Mar 2016 10:21:59 -0500As a SME it really does pay to look after the pennies. We're all familiar with the old saying, 'Look after the pennies & the pounds will look after themselves.' We take a look at some cost cutting measures to ensure profitability within your business.