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Accounting Reports You Should Review

Accounting Reports You Should Review

by | Jun 23, 2021 | Small Biz Accounting

Your small business is chugging along. You’re making sales, securing contracts, and keeping up with your day-to-day management. What you probably make less time for is reviewing your accounting reports. Of course, most business owners prefer to spend their time on...

Topics to Discuss with Your Business Accountant

by | May 27, 2021 | Small Biz Accounting

As a small business owner, you have a million questions running through your mind each day—and typically, it’s up to you to answer them! However, having a business accountant comes in handy for those questions you can’t answer on your own. According to the SBA, only...

Income Statement

by | Jan 11, 2021 | Small Biz Accounting

Understanding the Income Statement The income statement is one of the basic financial statements that disclose the financial performance of a company. Profit and loss statement (P&L), statement of income, and statement of earnings are other names for the income...

Accrual Accounting Vs. Cash

by | Nov 2, 2020 | Small Biz Accounting

Cash vs Accrual Accounting You have finally taken the leap and started the business you have always dreamt about. However, now you must make one more tough decision: what accounting method should your business follow: cash or accrual accounting? Accounting methods are...

New Revenue Recognition Standards

by | Apr 1, 2019 | Small Biz Accounting

New Revenue Recognition Standards Are Now REAL For nonpublic companies, the new revenue recognition standards that the Financial Accounting Standards Board (FASB) implemented are now a reality.  FASB 606, Revenue from Contracts with Customers, is effective for fiscal...