Applied Accounting in Business
It could appear obvious, but in managing a business, it has important to realize how the business makes a profit. A company wants a good business model and a good profit model. A business sells products or services and earns a certain amount of margin on each unit sold. The number of units sold is [...]
In: Accounting · Tagged with: Accounting, cash flow, expenses, financial, fixed expenses, interest
Accounting Professionals: Are They Necessary?
Does your business needs an outside accountant?
It all depends. If you require an audited or reviewed financial statement, then, yes, you need a CPA. In any event, it is always a good idea to maintain a relationship with an accountant no matter how small your business. Whether your accountant is a CPA is up [...]
In: Accounting · Tagged with: accountant, Accounting, CPA, financial statements
Accounting Ethics
Accountants at some point in their career will find themselves having to make a decision whether their situation is ethical or not. Professional ethics is an important aspect of an accountant’s job. As an accountant you have the commitment to each customer to demonstrate competence, confidentiality, integrity, and credibility. Competence is where you must [...]
In: Accounting · Tagged with: accountant, Accounting, CPA licenses, employee
Accountants: More Than Just Bookkeepers
For many people, the job titles of accountant and bookkeeper are interchangeable. After all, doesn’t a bookkeeper maintain the accounts of a business by tracking accounts receivable, accounts payable, rent expense, payroll, etc.? The answer is yes, a bookkeeper does perform all of these accounting functions. So why does an accountant get [...]
In: Accounting · Tagged with: accountant, Accounting, bookkeeper, finance, tax
