Here is the next installment of accounting vocabulary terms, D-F. Learning the vocabulary involved within accounting practices is important because again, it allows for a deeper level of education, whether the reader is a consumer, a student or even an accountant. Accounting does not need to be hard to understand. With the right vocabulary and […]
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In the world of accounting, there are two fields of study that often get confused. There is something called Financial Accounting and then there is Managerial Accounting. Most people are familiar with Financial Accounting. But there is a huge difference between the two. Harold Averkamp, CPA, and author of content at accountingcoach.com differentiates between the […]
One of the most important relationships that all business owners will have during the life of their business will be the one they maintain between themselves and their bank. The banking relationship between business owner and their bank is not only important because it is the place where deposits and withdrawals are made. It is […]
Forensic Accounting is one of those areas of accounting that is not spoken about a lot but is a highly regarded, highly regulated field. By definition, Forensic Accounting is defined by forensicaccounting.com as: The integration of accounting, auditing, and investigative skills yields the specialty known as Forensic Accounting. “Forensic”, according to the Webster’s Dictionary means, […]
Accounting can be very confusing. It is an industry with an in-depth vocabulary and for the layman, it can be hard to understand. Here are the most common accounting terms, letters A through C. View D-F here. Learning the vocabulary involved within accounting practices is important because again, it allows for a deeper level of […]
One of the best things that both individuals and small businesses can do to avoid stress at tax time is to start preparing early. Before the new year comes, there are a few things that can be done in order to avoid a large tax liability, as well as stress in filing. As I scoured […]
Many small businesses could save themselves a whole lot of stress if they were to follow a set of best accounting practices. Implementing some of these could save time, headaches and in extreme situations, legal ramifications. Here is a list of Best Accounting Practices for Small Businesses. Practice good accounting from the very beginning Good […]
Everybody hates paying taxes. Part of this ( besides the obvious hatred of forking over income) comes from fear of the IRS and of being audited. However, you don’t have to be afraid of this if you put safeguards into place. Here are 6 reasons why the IRS might audit you, as well as ways […]
