How to Find a Good Accountant

How to Find a Good Accountant

When it comes to finding a good accountant, you first need to evaluate your specific situation and know what is the most important reason you need them. Depending on if you are going to use them for your business or personal life will change your requirements and possibly their qualifications needed, but overall the process should be the same. This article provides a good list of steps to start with in your search for a new accountant.

1.Obtain a strong reference list. Read more

Must-Have Accounting Forecasting Tips – Seasonal Firms

Must-Have Accounting Forecasting Tips - Seasonal Firms

    What Are Seasonal Firms?

      There are seasonal companies and even seasonal areas such as ski or sun destinations. Some products are seasonal, meaning your company could offer many products for sale but will inevitably have some that only sell during certain times of the year.

    Understanding how accounting forecasting for seasonal firms works is key in ensuring you have the operating capital and cash flow to ensure you wont be scrambling for funds during off-season or down times.

    Image Credit – MorgueFile/KLK13

    Plan, Plan, and Plan Some More

    Sales forecasting isnt usually the favorite of any entrepreneur or accounting controller, but if you dont develop a plan with realistic datayour seasonal company, tourism trade, or seasonal products wont be enough to hold you throughout the yearor even keep you doors open.

    While some tourism trades such as ski areas may close down totally for the season, they still must plan for maintenance, personnel needs , utilities, and rent. Read more

Bad Credit Small Business Loans – Sorting Out Real Options

Bad Credit Small Business Loans - Sorting Out Real Options

Today, small and medium businesses find themselves in a tough position Many businesses have been severely restricted or cut off from their traditional sources of capital, while at the same time needing this capital due to a difficult economy. Commercial Banks and the Small Business Administration have tightened lending standards while many businesses credit has declined due to hard economic conditions. Read more

The Basic Principles of Fund Accounting: Explanations Behind the Guidelines

The Basic Principles of Fund Accounting: Explanations Behind the Guidelines

    Fund Accounting in a Non-Profit Organization

     

    A non-profit organization is a recipient of unconditional or unreciprocated funds or asset transfers coming from another entity, whether directly or by way of intermediary, in order to perform a mission that is humanitarian in nature and will benefit life in general and the environment or community they serve and protect. Read more

Longer Depreciation or Shorter Depreciation: Which Is Better?

Longer Depreciation or Shorter Depreciation: Which Is Better?

    Length of the Depreciation Period

    The length of the depreciation period of an asset should be decided on the basis of the purpose of the depreciation charge in the accounts. The objective of the depreciation charge is to match the use of the economic benefit of the asset against the income that has been earned through the use of that asset, so that costs and revenue are matched appropriately. Read more

Fraudulent Accounting and Enron Scandal Explained

Fraudulent Accounting and Enron Scandal Explained

    Enrons Invisible Hands”

     

    In the annals of accounting, “Enron scandal” means more than just a tale of accounting manipulations. It surpassed all other accounting frauds, because the need to hide its true financial conditions was not just a matter of hiding losses borne out of failed business projections. Read more

Life After Tax Season

Life After Tax Season

Tax time is stressful for everyone. It’s really stressful when you own a business. The bigger the business the worse it can be; gathering all your receipts and everything else that your accountant will need. Wow!

When you get your taxes done for the year, you can relax a little, and you will need to after all that.

Here are four tips that will help you throughout the year so next year you won’t be so stressed when it comes to your taxes.

1. Read more