Whether you want to admit it or not, every entrepreneur needs to learn some basic accounting procedures.
Here’s why…
Accounting can be seen from 2 different views. The first is from the eyes of the non-accountant. Words that enter their minds are boring, mundane, an expense, required, structured, records, paperwork, confusing, taxes, CPA’s, nerds (I can say [...]
Due to the growing number of financially strapped small to medium sized businesses, the topic of cash flow has been a hot one in recent years (and rightfully so). If cash isn’t available in a business, the business plateaus, and that means jobs get cut, disloyal employees cause problems, and most importantly: customers look elsewhere [...]
When Hansel and Gretel were left in the woods by their evil step mother, Hansel’s sharp young mind thought quickly and left a trail of white pebbles behind so he and his sister could find their way home. The second time they were abandoned, he left a trail of bread crumbs. Even though the second [...]
A Balance Sheet provides a financial snapshot of a company at a specific date. This statement details the company’s assets, liabilities and owner’s equity.
Assets are things, that a company owns, that have value. An asset is also that which is owed to a company such as accounts receivables. Assets include tangible items such as buildings, [...]
A cash flow statement is one of the more common financial statements which shows a company’s flow of cash during a period of time. It’s an important statement to understand AND to use.
One of the most common mistakes young entrepreneurs make is thinking that their Net Income (income minus expenses) represents the amount [...]
