What accounting information do you need? How is this information going to be used? How will it add value to what you are doing? In life, a lot of drama can be avoided if you ask these questions first before scanning a balance sheet or profit and loss report. Of course, you may not know…
DetailsA survey conducted by the Global Entrepreneurship Monitor shows that there are approximately 582 million entrepreneurs worldwide. As a small business owner, you need to understand that bookkeeping is an essential part of running your enterprise. Following basic accounting principles is a recipe for success, despite the size of your business. As your new startup…
DetailsMore Americans than ever are scratching the itch to be their own boss. In 2016, it was estimated that about 25 million Americans had started their own business. Unfortunately, starting your own business can be challenging. One of the things many entrepreneurs overlook is the details like bookkeeping basics. The devil is in the details…
DetailsDo you have a certain fire within you and you know you were born to operate your own business? Do you absolutely hate trying to deal with bookkeeping and numbers? Over 62% of the billionaires in the United States are self-made. It’s a safe bet that not every single one of them understood accounting. A…
DetailsIt’s not enough to know that your business’s financial well-being is critical to success. As an entrepreneur, you need to know how to manage your company’s finances. Therefore, it is important for entrepreneurs and business owners to be well versed in accounting and related practices to ensure they are making the correct financial decisions. There is various…
DetailsAs an entrepreneur, there are many responsibilities that you will need to handle on your own. The freedom that comes with entrepreneurship can sometimes also come with an increased workload. This can prove to be overwhelming for some individuals and can lead many scrambling for solutions. However, bookkeeping does not have to be challenging and…
DetailsAs I mentioned in my book, each semester I begin my Managerial Accounting class with the same question, “How many people DON’T have a background in Accounting?” On average, 90 percent of the class raises their hand. I follow up with, “What are some of the reasons that influenced your decision not to pursue a…
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