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Accounting Principles & Standards: Avoid Them At Your Peril
Accounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements...
Author: John Day - Category: Business Management
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Accounting Police: Do They Exist?
Who created accounting principles Who sets and revises accounting standards...
Author: John Day - Category: Business Management
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Accounting Professionals: Are The Necessary?
Does your business needs an outside accountant
It all depends...
Author: John Day - Category: Business Management
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CPAs vs. Non-Certified Accountants - Clearing Up The Confusion
I wish I had a nickel for every time someone asked me what the difference is between CPAs and non-certified accountants...
Author: John Day - Category: Business Management
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Non-Profit Organizations - What Are They?
Definition of Fund; Assets; and Fund Balance
According to the “Financial and Accounting Guide for Not-For-Profit Organizations” written by CPAs Gross, Larkin, Bruttomesso, and McNalley, (fifth edition, pg 25) the definition of a these three terms is as follows:
- A fund is any part of an organization for which separate account records are kept...
Author: John Day - Category: Business
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The Accounting Model - Accounting's Rosetta Stone
As a small business owner/manager you must have an understanding of the financial end of your business...
Author: John Day - Category: Business
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Understanding Depreciation: It May Be More Simple Than You Think
Depreciation is defined as a portion of the cost that reflects the use of a fixed asset during an accounting period...
Author: John Day - Category: Business
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Applying For A Business Loan: Putting Your Best Foot Forward
Remember the book called “Catch 22” It is now commonplace to call a “Damned if you do, and damned if you don’t” situation a “Catch 22”...
Author: John Day - Category: Finances
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Internal Control: A Preventive Maintenance Program
You read about this in every newspaper in every town in the entire country: Some bookkeeper, trusted by the owner of a small business, embezzles thousands of dollars...
Author: John Day - Category: Business Management
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