5 Reasons Why Being a CPA is Tough
“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin Taxes. That horrible chore that makes it on our to-do list every year. Even for those who are expected to...
View ArticleSmall Business Accounting- Cash Versus Accrual Basis Accounting
There are two types of accounting: accrual and cash. It’s important for a small business to understand the two systems in order to select the correct accounting methods. In this post, we will discuss...
View ArticleManagerial Accounting- Preparing the Operating Budgets
In previous posts, we’ve discussed how budgeting is essential to managerial control and accounting. Preparing budgets is an important step for managers to plan finances. When it comes to preparing...
View ArticleSmall Business Accounting- Debits and Credits
In accounting, T-accounts are used to track economic activity within the business. A T-account is an individual record of an increase/decrease in an asset, liability, stockholder’s equity, revenue, or...
View ArticleManagerial Accounting- What is a Balance Sheet?
In accounting, it’s important to understand the different types of financial statements in order to be able to use them properly. The first important financial statement is the balance sheet. A balance...
View ArticleSmall Business Accounting- Accounting Basics and Methods
Understanding accounting is a very useful skill to have when it comes to managing a small business. The better a manager understands financial data, the easier it is for them to make a decision. In...
View ArticleUsing Credit Cards in QuickBooks 2014
Creating Credit Card Accounts You should set up a QuickBooks credit card account in the Chart of Accounts for each credit card you use in your business. Like any QuickBooks account, a credit card...
View ArticleTax Filing Tips for Tax Year 2013
There are a few changes for 2013 that tax tax payers should be aware of. Some of the changes include changes in credits while some refer to when and how to file. In this post we will try to give tax...
View Article
