Financials | Small Business Networking | Information for small business owners

The Language of Accounting

17. August 2009

ACCOUNTING: A NECESSARY EVIL? Many of the small-business managers I know view accounting this way. It’s overhead and really doesn’t contribute to the bottom line. Or does it? The people who run the accounting system speak in an unintelligible blur of debits and credits. They have little grasp of the operation that generates the money to [...]

Basic Accounting – General Ledger

31. July 2009

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The general ledger is the core of your company’s financial records. These constitute the central “books” of your system, and every transaction flows through the general ledger. These records remain as a permanent track of the history of all financial transactions since day one of the life of your company. Subledgers and the General Ledger Your accounting [...]

Basic Accounting – Income Statements

20. July 2009

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Income Statements An income statement, otherwise known as a profit and loss statement, is a summary of a company’s profit or loss during any one given period of time, such as a month, three months, or one year. The income statement records all revenues for a business during this given period, as well as the operating [...]

Basic Accounting – Balance Sheets

29. June 2009

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A balance sheet is a snapshot of a business’ financial condition at a specific moment in time, usually at the close of an accounting period. A balance sheet comprises assets, liabilities, and owners’ or stockholders’ equity. Assets and liabilities are divided into short- and long-term obligations including cash accounts such as checking, money market, or [...]

The Importance Of Business Plan

27. February 2009

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Do you need more money to expand your business? If yes, you need a business plan. If you are starting a business, despite the work involved, a business plan can prepare you for the obstacles ahead and help ensure your success. Creating a business plan forces you to contemplate possible obstacles to your business and prepares you to find solutions that will help you to overcome them. Most of many small companies fail to create, however, many business owners are adamant tha...

Small Business Networking | Information for small business owners

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The Language of Accounting

Basic Accounting – General Ledger

Basic Accounting – Income Statements

Basic Accounting – Balance Sheets

The Importance Of Business Plan

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