Take off the receipt paper cover and locate the battery compartment. You may need to use a small screwdriver to unscrew the lid to this area. Install the batteries according to the directions on the machine. Put the lid back on the battery compartment.Some battery compartments are located underneath the receipt paper area. Electronic cash registers offer businesses numerous benefits including tracking customer transactions and speeding checkout time. Most models are easy to use yet provide accu […]
A balance sheet is often described as a “snapshot of a company’s financial condition”. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business’ calendar year. The income and retained earnings of the accounting equation is also an essential component in computing, understanding, and analyzing a firm’s income statement. This statement reflects profits and losses that are themselves determin […]
The manufacturer recently received a special order for 1,000,000 phone cases at a total price of $400,000. Being the company’s cost accountant, the manager wants you to determine whether the company should accept this order. Certain cost accounting formulas should be monitored on a regular basis in order to spot spikes or drops in the performance of an organization. These issues can then be investigated to see if remedial action should be taken, with the intent of enhancing profits. The m […]
Used books may not include companion materials, some shelf wear, may contain highlighting/notes, may not include cdrom or access codes. Lita Epstein, who earned her MBA from Emory University’s Goizueta Business School, enjoys helping people develop good financial, investing and tax-planning skills.
The OverDrive Read format of this ebook has professional narration that plays while you read in your browser. We’re sorry; this specific copy is no longer available. Goodreads is the (mo […]
If the buyer is looking for a substantial credit line, make sure you review their financials, especially a statement of cash flow. If they are operating in a negative cash position you need to be sure that they will have enough cash available to pay you. Limit their credit line or at the very least change their terms if it looks that they may have a cash flow problem. The credit application form is issued by a supplier or lender with the intent of standardizing (more…) […]
If you have a business – either a sole proprietorship or partnership – you should seriously consider setting it up within an LLC. It will provide you with similar legal protections to a corporation, but enable you to run your company as a small business. Your LLC registered agent will accept legal documents and tax notices on your LLC’s behalf. You will list your registered agent when you file your LLC’s Articles of Organization. LLCs are popular because business owners can avoid th […]
Assets are ordered in terms of liquidity or how long it would take to change into cash. A company’s balance sheet is one of the most important financial statements it will produce—typically on a quarterly or even monthly basis . Since it is just a snapshot in time, it can only use the difference between this point and another single point in time in the past. The line items towards the top of the assets section are the most liquid, meaning those assets can be converted to cash the fastest […]
Evidence obtained directly by the auditor is more reliable than evidence obtained indirectly. Clearly, materiality plays a large role; however, how to measure what information is true and fair or misstated is crucially important. Rights and Obligations — the transactions and disclosures pertain to the entity. Completeness — all balances that should have been recorded have been recorded. Classification — the transactions have been recorded in the appropriate caption. Best Of We’ve tested, […]
An acknowledgement of ownership, receipts are proof of a financial transaction. The IRS requires small businesses to hold onto some receipts to document tax deductible expenses. Dividends consist of company earnings, or profit, which a business pays to its shareholders as a reward for their investment in its equity. Companies may distribute dividends as cash or additional shares of stock. Such decisions include whether to buy blue-chip stocks or loan money (more…) […]
Very small businesses may choose a simple bookkeeping system that records each financial transaction in much the same manner as a checkbook. Businesses that have more complex financial transactions usually choose to use the double-entry accounting process. Financial literacy is important and sharp accounting skills are crucial if you want to succeed in business. From tax planning to making the right decisions based on accurate financial information, solid accounting knowledge is key. The way yo […]
