The purpose of the income statement is to present revenues, expenses, net income, and earnings per share for an accounting period. For the income statement the earnings are normally measured on an accrual basis so the income reported on it is not the same as cash generated during the accounting period. However some small businesses prefer cash basis due to its simplicity. Continue reading
There are many reasons that keep people from starting a small business and taking control of their lives. I want to give you nine steps that you need to follow when initially starting a small business. The goal of this is to relieve anxiety caused by the fear of the unknown in regards to state and federal agencies. Continue reading
I am sick of watching the various reasons small businesses fail. In many small towns we see dreams crushed over poor financial decisions. I know accounting is not the sexiest thing however it can really hold a small business owner back. Continue reading