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Why Budgets are Important for Businesses

Why Budgets are Important for Businesses

by | Apr 1, 2022 | Small Biz Accounting

  Mention the word budget to most business owners, and instantly their hands become clammy. Budgets often get a bad rap because planning one can be a tedious task. However, the benefits of a budget, far out-weigh, the dread many associate with the word. A budget...

Working Capital & Liabilities

by | Mar 1, 2022 | Small Biz Accounting

Working capital is the difference between a company’s current assets and its current liabilities.  Current assets include cash, inventory, receivables, and other assets which are expected to be turned into cash within one (1) year. Current liabilities include accounts...

Payroll Expenses & Job Cost Allocations

by | Feb 1, 2022 | Small Biz Accounting

  Payroll allocation is important for government contractors because government contractors must follow special FAR guidelines in their accounting. The Federal Acquisition Regulation, or FAR, are regulations that set the rules that the...
The New Lease Standard

The New Lease Standard

by | Jan 3, 2022 | Small Biz Accounting

The New Lease Standard The New FASB Lease Standard Year-end finally feels like a distant memory, and you can breathe again. Do not get too comfortable though. As one door closes, another opens… the new lease standards. You remember hearing about the new lease...