Despite the fact that economic conditions are changing, the demand for qualified accountants continues both in practice and industry. Which career path is the right one for you? Both the practice and industry sectors offer great potential for career development, the big decision for many accountants who have trained in practice is whether to […]
It should be clear to most business owners just how important it is to keep good accounts. They should be clear, honest, up to date, and kept in a manner which is safe. You will find that there are many great benefits to holding up a good accounting practice in your business, and it’s definitely […]
In some ways, your children are responsible for their own financial future. When they reach adulthood, you won’t (in theory) be their sole source of financial support, as they should be out there in the world making money of their own. However, there are still steps you can take to make life a little […]
Not all costs can be assigned directly to a product or service, and that makes it harder to compute the total cost for an item that you sell. Say, for example, that you manufacture baseball gloves. You spend money to purchase leather as a raw material, and you incur labor costs to run machinery […]
What’s the rate of return? It’s a common investor question. When you’re investing in stocks, bonds, or mutual funds, it’s helpful to know the investment’s historic rate of return. You compare the investment risks to the rate of return, and use that analysis to make a decision about investing. A business owner […]
I like Airbnb, and I’ve used the service multiple times. The company has huge brand awareness, but was struggling to produce consistent profits in early 2020. What Happened The Wall Street Journal wrote about Airbnb’s 2020 profit struggles, as it considered launching an IPO. Here are some quotes: “The company is […]
Goodwill is one of the most misunderstood accounting concepts, and the stakes for getting goodwill accounting right are very high. Altria, the cigarette manufacturer, took a huge financial hit in early 2020 on its investment in Juul, the firm that produces the smokeless/ vaping product. What Happened This Reuters article explains that: […]
A career as an accountant can certainly be a lucrative one. If you’re able to work with numbers and help businesses keep their finances in order, being an accountant can be rewarding. It is also a competitive career, with plenty of other accountants vying for work. If you want to be sure that you […]
Accounting adjustments can be a red flag for an auditor. If a company has an experienced accounting staff and strong internal controls, they’re going to get most things right. Each accounting entry is supported by sources documents, such as invoices, receipts, and purchase orders. Accounts are reconciled in a timely manner, and the financial […]
Do you notice all of the delivery trucks on the road? At one point the other day, I saw Amazon Prime, USPS, and Fed-X trucks: all in the same block. The volume of trucks increased during the pandemic. Sure, online business is booming, but a big factor is shipping costs. How to you […]