Tag: Accounting

Small business owners often have accounting questions and financial advisory needs that don’t always occur at regular intervals or around tax time. Opportunities to grow your business crop up with a little warning. How does Read More

One of the not-so-secret ways to run a profitable construction business is to follow sound accounting practices. Mistakes in financial reporting can be costly, potentially leading to budget overruns, cash shortfalls, delayed projects, unpaid bills Read More

Under the accrual method of accounting, the end of the accounting period serves as a strict cutoff for recognizing revenue and expenses. However, during economic downturns, managers may be tempted to artificially inflate earnings or Read More

As a business owner, you face endless, competing priorities. One priority that shouldn’t be overlooked – and that can truly change your business for the better – is the month-end closing of your books. An Read More

In 2022, the value of the cryptocurrency market — including Bitcoin and Ethereum — tumbled by trillions of dollars. Despite this volatility, many people expect crypto assets to rise in significance in the coming years. Read More

Is your company struggling to tackle all its accounting needs? Companies that have lost a CFO, outgrown their bookkeeper, changed their offerings or experienced high growth can have a hard time finding the right accounting Read More

Comprehensive financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP) include three reports: the balance sheet, income statement, and statement of cash flows. Together these reports can be powerful diagnostic tools to help evaluate Read More

In today's uncertain marketplace, businesses are being forced to re-evaluate their working capital needs. Some managers have learned the hard way during the pandemic that operating "lean" has its limits.   What Is Working Capital? Read More

There's more to financial reporting than profits. The statement of cash flows can be a powerful management tool. During an economic downturn, it's especially important for managers to monitor cash flows to detect — and Read More

Is the amount of inventory on your company's balance sheet accurate? Depending on the nature of a company's operations, its balance sheet may include inventory, consisting of raw materials, work-in-progress and/or finished goods. Inventory items Read More