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Accounting - Beyond the Tax Return
How a proper accounting system can help you run your business and improve your botton line!
Don't Adjust My EBITDA
In my first business, we didn’t have a line for EBITDA on our financial statement. We went straight to Net Income. We knew our cash flow from our statement of cash flows (and our bank account which we checked regularly since we were self funded.) We never talked about EBITDA, nor did we ever feel the need to come up with things like “Adjusted EBITDA.”

Is your Accounting System Broken?
In the past few months we have heard so much about Greece’s large debt burden and budget deficit leading to a contagion of problems that are likely to take the entire Euro Zone down. You wonder how this problem just revealed itself so suddenly without any prior warning. After all didn’t the Government of Greece and the Euro Zone’s central bank know they were taking on too much debt? Wouldn’t their accounting system tell them the level of debt and growing deficit as it got worse over the years? The reason why Greece's problems went undetected for so long is that they had a broken accounting system. Every year, K&M Accounting and Tax Services come across small and large businesses in Charlotte and Carolinas that have accounting systems that just don’t work. Here's some tips to find out if your accounting system is working for you.
Does Your Client Pay Slow?
If your clients pay slowly, here's how to collect client pay faster and with less effort.
Home Based Business 9 Basic Work At Home Essentials
Home based business basic work at home essentials that every entrepreneur should consider before giving up a day job. Making the move from having a job and being an employee to being an entrepreneur can be unsettling especially if it is your first attempt. If you truly want to be an entrepreneur do not be deterred from your decision. Everything you need to know or learn is readily available online. A good place to start is with the home based business basic work at home essentials.

Starting a New Business – Your Business Framework – What Scaffolding Do You Need?
When starting a business of what ever kind, large or small, there is a always a require framework or scaffolding that you have to set up. Not only does this make your business much more effective, but it also saves you from a lot of embarrassing and costly problems. Here is your framework:
Bookkeeping for your small Business I
Bookkeeping set-up information
Financial Fundamentals
It's very easy to go into business, and running a business is easy if you have great systems to track your finances automatically, effortlessly, and accurately. Those systems don't "cost", they truly pay off in wonderful ways. Follow the basics. There will likely come a day when you'll be delighted you did!

Other accounting system Related Articles

The ABC of a book-keeping system
Book-keeping makes your paperwork easier. It provides a system that tells you – and your accountant – exactly what is going on. Whether you use a manual or computer-based system, the same principles apply. It is worth deciding if you are going to computerise your accounts at an early stage. While a traditional paper-based system will look suitable for many start-ups, the accounting function could soon swallow valuable time as your business starts to grow. If you start with computerised accounts, there will be no need to go through the time consuming process of transferring your paperwork onto a computer package.

ACCOUNTING POLICE: DO THEY EXIST?
Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules. There is, up to a point, and this article discusses how it works:
Taking the Mystery out of Inventory
You might ask yourself, should I care if my inventory is correct? Here are the top three reasons you should care. Tips on how to know if you have a problem? Let’s review how easy it is to check without having your consultant or other advisors do this for you. If you don't have a good system you are probably spending more time trying to figure out what the correct information is or redoing all this in excel that you have paid for a new system several times over. You may have lost enough sales to pay for the new accounting software. If your current system meets all your business objectives, then try these suggestions.
3 Important Questions to Ask Your Bookkeeper Today
Problems may be brewing in your accounting system, and you won't even know it. These questions will help get a dialogue going and some insight on how things stand with your important accounting tasks.
Cash or Accrual Accounting for my Business? – Do I really Care?
The article discusses how and why business owners choose, or change their accounting system, with positive and negative aspects highlighted on each choice .
US and International Financial Regulations
In this article we will look at accounting standards; discuss original purpose of their creation and consider the future of the financial regulation in general. We will get familiar with some of the major concepts of US financial accounting and its integration process into the global system of rules.

Accounting Systems are not just for numbers
Many businesses believe the main reason to invest in an accounting systems is to keep records for the purpose of filing for income taxes and to keep their accountant happy. While this may be true, there are other benefits that can assist an owner managed business in being a sound business person and help them in running their business effectively. There are literally hundreds of accounting systems to choose from. A good accounting system is not just about numbers as they can keep track of your best customers buying cycles, inventory,money that is owing to the company, and suppliers terms and discounts. And some systems can serve as a sales and marketing tool.

Accounting - Beyond the Tax Return
How a proper accounting system can help you run your business and improve your botton line!
Is your Accounting System Broken?
In the past few months we have heard so much about Greece’s large debt burden and budget deficit leading to a contagion of problems that are likely to take the entire Euro Zone down. You wonder how this problem just revealed itself so suddenly without any prior warning. After all didn’t the Government of Greece and the Euro Zone’s central bank know they were taking on too much debt? Wouldn’t their accounting system tell them the level of debt and growing deficit as it got worse over the years? The reason why Greece's problems went undetected for so long is that they had a broken accounting system. Every year, K&M Accounting and Tax Services come across small and large businesses in Charlotte and Carolinas that have accounting systems that just don’t work. Here's some tips to find out if your accounting system is working for you.
Debits and Credits in Accounting
In double entry accounting, we use two columns for each account and enter only positive numbers. Two accounts are always affected by each transaction, one must be a debit and the other must be a credit of equal amount. Sometimes more than two are affected when multiple entries are made against one credit/debit. This double entry accounting system provides a method of checks and balances. By adding up all of the debits and adding up all of the credits and comparing the two you can notice errors or correct many common types of bookkeeping mistakes.
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