Accounting Reports Every Business Owner Should Review

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…

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End of the Year Accounting Checklist

End of the Year Accounting Checklist updated from our previous blog posted on December 31, 2015 One of the things that you will need to do for your business at the end of the year is to close the books….

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The Balance Sheet

The Balance Sheet The balance sheet is important because it’s essentially a company’s statement of financial position at a specific date. Investors, creditors, and other businesses use it to: calculate financial ratios, determine how much money the company has and…

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Understanding the Cash Flow Statement

The purpose of the cash flow statement is to show owners/investors the amount of money that is flowing in and out of the business over a period of time, typically a year or one quarter.  It also ties together both…

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Balance Sheet

The balance sheet is the core of all the financial statements. Therefore, the basic fundamental in accounting and one of the very first equations taught to an accounting student, is derived from the balance sheet. This would be: Assets =…

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