When it comes to a business’s financials, much depends on the type of business and the needs and motivation of the business owner(s). Accounting is essential to all small businesses. Many small businesses that pay little or no attention to their accounting...
Owning a business is part of the American dream, but starting or running a business is not easy. There are six critical small business financial mistakes a successful business needs to avoid. Top 6 Small Business Financial Mistakes Many new businesses start every...
Small businesses exist for many reasons. Yet, they all share a common purpose: They must be worth pursuing, as envisioned by the person or persons starting them Once pursued, they must continue To continue, they must earn a profit For these types of businesses to...
Bookkeeping for a small business is similar to any size business. There are prescribed steps to follow (known as the accounting cycle). Differences occur because of the complexity and needs of the business and the method, usually manual or computerized, used to do the...
Owning a small business is a dream of many Americans. Being your own boss is attractive and can be financially rewarding. The truth is that it is not easy, and many businesses fail or do not meet the expectations of the owner(s) that were present at the beginning....
A financial statement can take many forms. The first question to ask is whether the financial statement is for personal or business use. Individuals often have to prepare personal financial statements if they are looking to obtain credit, usually for a large purchase...
