There are a couple of steps that you will undergo when setting up a business. One of which is choosing the correct business structure for you. This step is critical to the success of your organization as the structure you will affect many aspects of your company. These aspects include how you operate and how …
Small businesses, in one way or another, experience some losses during their existence. One of the most common kinds of these losses is casualty loss. Casualty losses are a negative movement in the value of a company due to unexpected, unusual, and sudden events. Fires, earthquakes, and acts of war are some examples of these …
Auditing and accounting are two of the most common terms in the finance world. Unfortunately, plenty of people still confuse these two services. In fact, even Hollywood isn’t safe from this confusion. For example, in the movie “The Accountant,” Chris Wolff, Ben Affleck’s character was actually an auditor rather than an accountant. To help you …
As a small business owner, your financial reports will show you the performance and current standing of your company. Hence, you must request from your accountant some reports that you believe are essential. These reports should be able to help you guide and monitor your company effectively. Before you contact your accountant to ask for …
Seven thousand years ago, Mesopotamian traders used stones to record their expenses, purchases, and sales. Imagine using that technique for even the smallest corporations now! Luckily, accounting software tools are now available. Even more, this technology has merged with other innovations to create what we now call cloud accounting software. Although every accounting application has …
Setting up a new small business is a huge commitment. It requires you, the business owner, to invest immense amounts of time, effort, and money. So finding the most profitable small business is one of the first things you should consider if you want to become a successful business owner. Factors To Consider When Thinking …
Hiring an accountant can be a big step for businesses. This fact is most especially true to those still in their early stages. For some, it seems like an unnecessary expense that can push their financial numbers to red. In some cases, however, this fear is understandable. Hence, it is essential for business owners like …