It appears that restaurants are starting to turn around from their race to the bottom. Prices at the major restaurant chains dropped rapidly during the economic downturn as competitors raced to offer a better deal to customers who had thin wallets. Even though margins have been pretty thin, this has at least led to one good outcome for restaurant owners and managers: they are being fiscally responsible.
In order to shave costs and offer better value to customers, restaurant managers have been relying heavily on their accounting software. Read more
Accountants are trying to help clients get taxes done properly and efficiently. They are not a threat.
Accountants will ask for information and clients should provide the information quickly to make the accountants work easier and also the clients bill smaller. Clients that put off accountants and do not keep accurate records will make a CPA work harder and this will make the bill larger. Read more
Management accounting is a vital subfield which provides information to management employees in a company. It allows managers to make important, informed business decisions on a daily basis while maintaining said information confidentially. By using management information systems combined with a company’s own internal rules and controls, management accountants create information which will be utilized in future transactions- and never intending to be used as a record keeper of past transactions.
Cost, industrial, managerial, private, and corporate accountants are all entities that perform some kind of management accounting. Read more
In Corporate America we have learned that the bottom line is what matters. The first instinct of many business owners when they receive their financial statements is to look at their bottom line, their profit. But what information can your top line, your sales figures, give you?
Paul J. Lim states in Why Sales Matter More Than Profits, “Forget that profits can always be touched up to make things appear brighter than they really are. Read more
When you talk about accountancy you need to understand that it is the communication of financial important information. This financial information is very important and beneficial for people managing businesses, managers of big businesses and shareholders and without access to such information they would not be able to make any firm decisions about their business. Accountancy services include the financial information in the form of statements that show the amount of financial resources that are available. Read more
Most small business owners understand about entering information into their accounting systems to help regulate and reconcile their business earnings and expenses. This also helps to make things easier at tax time.
However there are sometimes some things that aren’t entered into your accounting system that really should be.
The core entries are usually the same for most businesses. Read more
In this fast growing world, that time has gone when people used to work on papers and clutter piles of files to record the business information and fill more and more file cabinets as time passes. This way of performing tasks is very time consuming. The problem starts when one needs to retrieve old information from those piles of files. Read more
A business should produce accounting information, in the way of the year end financial statements and other financial data, because there are various groups of individuals who require this information so as to make decisions. The needs and objectives of these groups are often different, so what might be useful information for one group may be of no use to another. Read more
Many of you may already be aware of these types of scams, but I want to share this anyway…..
Unfortunately, over the years, I accumulated some debt (that I am not proud of) and have been paying off gradually, however, I had received a few calls from so-called debt collection companies that somehow acquired certain bits of personal information (i.e. Read more