1.||Accounting Police: Do They Exist?|
Who created accounting principles? Who sets and revises accounting standards? What if you don't follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some ...
[Added: 17 Nov 2005 Hits: 1179 Words: 537]
2.||Accounting Professionals: Are The Necessary?|
Does your business needs an outside accountant?
It all depends. If you require an audited or reviewed financial statement, then, yes, you need a CPA. In any event, it is always a good idea to maintain a relationship ...
[Added: 17 Nov 2005 Hits: 944 Words: 998]
3.||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. Essentially, non-certified accountants can simply hang up their shingle and open their doors for business. There are no educational requirements. If they want to ...
[Added: 17 Nov 2005 Hits: 422 Words: 954]
4.||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.
Long ago, I was perplexed to discover that there was no "set" of accounting principles ...
[Added: 17 Nov 2005 Hits: 1016 Words: 555]
5.||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. A fixed asset is an item that has a useful life of over one year. An accounting period is usually a month, quarter, six months or one year. Let's ...
[Added: 23 Aug 2005 Hits: 344 Words: 1134]
6.||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". This is a predicament that many small business owners have found ...
[Added: 23 Aug 2005 Hits: 322 Words: 756]
7.||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. If the theft doesn't put owner out of business, it certainly causes ...
[Added: 23 Aug 2005 Hits: 601 Words: 629]
8.||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:
[Added: 23 Aug 2005 Hits: 317 Words: 1237]