As a small business owner, it can sometimes feel like you’re alone on a desert island with no help in sight for the endless financial reports you have to deal with. This blog post on how to understand and calculate cash flow is the 3rd in a series we’ve been doing on...
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How to Read a Monthly Balance Sheet (And Why It Matters)
According to financial website The Balance SMB, the monthly balance sheet is “the most important of the three main financial statements used to illustrate the financial health of a business.” In previous blog posts on this site, we have talked about those 3 key...
3 Most Important Types of Financial Statements Your Business Needs
It’s a question that most of us have been asked at a dinner party at some point in our lives: “If you were in a plane crash and stranded on a desert island, what one _____ would you want with you?” In 2005, The Office did an episode titled “The Fire” in which a small...
Keep Up With Receipts Like A Pro With These 3 Simple Tips
Every transaction in your business has to be accounted for. In the nonstop world of a small business owner, it can be a real challenge to keep up with receipts. You either forget to enter the expense in your accounting software, or you just guess at the amount. Either...
5 Important Questions to Ask Your CPA Every Year
Meeting with your CPA shouldn’t be a one-time event where you simply hand them the keys to your finances and walk away. In order to take full advantage of the CPA you’ve teamed up with, here are 5 questions to ask your CPA at least every year.
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Operating Lease vs Finance Lease: How New Rules Will Affect Your Small Business
In an earlier post on new lease accounting standards and how they can impact your business, we discussed a couple of different types of leases. Because most business owners are involved with renting some type of property or equipment regularly, we thought it might be...
9 Types of Accounting Jobs To Consider If You’re Looking For An Interesting Career
If you’re wondering what types of accounting jobs are available to college grads and job seekers with accounting degrees, you’ve come to the right place. We’re a CPA firm that’s been around a while (40 years and counting), so we’ve seen a thing or two. One thing we...
How Farm Bookkeeping Can Sow Seeds of Success In Your Ag Business
Farm bookkeeping isn’t exactly like bookkeeping for ordinary businesses. In the “non-ag” world, tracking transactions is fairly straightforward. But on the farm, things move at a different pace. The physical aspects of running a successful farm are tough enough....
New Lease Accounting Standards (And How They Can Impact Your Business)
Many businesses are involved with some type of leasing or rent-to-own transactions. Some lease property while others lease equipment to run their operations. Others are the ones leasing those things out to others as a source of revenue. New lease accounting...
How to Land Your First Entry-Level Accounting Job (Tips From The Pros)
Entry-level accounting jobs can be a great step toward a fulfilling career. If you’re wondering what all is involved and how to land your first position, read on for some helpful advice from the pros. Entry-Level Accounting “Entry-level” accounting jobs are exactly...