Have you been struggling with how you do bookkeeping in your small business? Does it seem like you can never make a dent on the financial administrative side or that you can never get organized enough to make headway? This article is about getting your head in the game with your business in mind. Call […]
You’ve been doing the finances of your business for far too long, and you recognize that it is costing you time and, in effect, money. If you’ve been considering having a professional take over, you may be wondering exactly what the difference is between accounting services vs. bookkeeping services.
There are several methods of calculating depreciation of fixed assets, but all of them can be reduced to one of two common methods, straight line and declining balance. No fixed asset lasts forever, and every one has what is referred to as a useful economic life. The IRS maintains guidelines indicating acceptable terms in years […]
GAAP is the abbreviation of Generally Accepted Accounting Principles. GAAP is not necessarily a collection of rules and guidelines, though GAAP uses those. Rather, GAAP represents a collection of broad concepts and detailed practices that represent best accounting practices as it is accepted at a given time, and often within a specific industry. Reporting according to […]
None of the four types of financial statements can be used on its own to arrive at a sound investment decision, but the four together serve to provide an array of information for lenders, investors or potential investors. The bottom line figure of the income statement, net income, becomes a prominent entry on the statement […]