It can be a real challenge for a new entrepreneur who doesn’t regularly balance his or her personal checkbook to adjust to the demands of business accounting.  Business accounting is a critical discipline that the business owner either must learn and adopt – or must outsource to someone else.  No matter how small your business is, you simply can’t run your business as if it were your home.  There are many solid reasons for this.

One reason is that in business it is far more likely that more people are going to have claims on your money.  Lendors, vendors, employees, and Uncle Sam all need to get paid.  These obligations create liabilities that your checkbook doesn’t show.  How much should be set aside to pay the bills?  How much do you need to reserve for tax payments?  What about those business loans?  It is simply too hard to track in your head. Read More→

• Financial Statements and Fund-ability Disraeli once said that "there are three kinds of lies: lies, damned lies, and statistics." In business, some of the "statistics" that can tell such damning lies are the numbers found on company  balance sheets and income statements. Too often, the reality is not accurately reflected in the numbers. Accounting......
• 11 Ways to Protect Yourself in Business Business is riskier than ever these days.  The economy is a mess, credit markets are tight, taxes are high - and likely to go higher, the courts are clogged with frivolous lawsuits, and attorneys seem to rule the world.  What can you and I do about it?  Fortunately, we......

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