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10 Assets and liabilities

by admin on Sep 10, 2011 Accounting No Comments • , ,
Assets and Liabilities Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our personal lives, business is run on credit as well. Many businesses sell their products  →
0 Views : 19

11 Gains and Losses

by admin on Sep 11, 2011 Accounting No Comments • , ,
Gains and Losses It would probably be ideal if business and life were as simple as producing goods, selling them and recording the profits. But there are often circumstances that disrupt the cycle, and it’s part of the accountants job  →
0 Views : 4

12 Balance sheet

by admin on Sep 11, 2011 Accounting No Comments • , ,
Balance sheet A balance sheet is a quick picture of the financial condition of a business at a specific period in time. The activities of a business fall into two separate groups that are reported by an accountant. They are  →
0 Views : 4

13 Revenue and receivables

by admin on Sep 11, 2011 Accounting No Comments • , ,
Revenue and receivables In most businesses, what drives the balance sheet are sales and expenses. In other words, they cause the assets and liabilities in a business. One of the more complicated accounting items are the accounts receivable. As a  →
0 Views : 8

14 Inventory and expenses

by admin on Sep 11, 2011 Accounting No Comments • , ,
Inventory and expenses Inventory is usually the largest current asset of a business that sells products. If the inventory account is greater at the end of the period than at the start of the reporting period, the amount the business  →
0 Views : 5

15 Depreciation

by admin on Sep 11, 2011 Accounting No Comments • ,
Depreciation Depreciation is a term we hear about frequently, but don’t really understand. It’s an essential component of accounting however. Depreciation is an expense that’s recorded at the same time and in the same period as other accounts. Long-term operating  →
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16 Depreciation reporting

by admin on Sep 11, 2011 Accounting No Comments • , ,
Depreciation reporting In an accountant’s reporting systems, depreciation of a business’s fixed assets such as its buildings, equipment, computers, etc. is not recorded as a cash outlay. When an accountant measures profit on the accrual basis of accounting, he or  →
0 Views : 5

17 Investing and financing

by admin on Sep 11, 2011 Accounting No Comments • , ,
Investing and financing Another portion of the statement of cash flows reports the investment that the company took during the reporting year. New investments are signs of growing or upgrading the production and distribution facilities and capacity of the business.  →
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18 Building a cash cushion

by admin on Sep 11, 2011 Accounting No Comments • , , ,
Building Cash Reserves Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you’re a business grossing $250,000  →
0 Views : 8

19 Quasar software

by admin on Sep 11, 2011 Accounting No Comments • , ,
Quasar software Accounting has become more and more complex as have the businesses that use accounting functions. Fortunately, there are several excellent software packages that can help you manage this important function. Quasar is one such package. All versions of  →
0 Views : 4

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