Introduction: The Financial Accounting Standards Board (FASB) on August, 17, 2010 released their “exposure draft” requiring companies to record nearly all leases on their balance sheets as a “right to use” asset, and a corresponding “future lease payment – liability”. What does this mean to your business in layman terms? […]
Day: January 14, 2023
Small Business Accounting 101
If you are in business, then guess what – you are either an accountant by default or you need to hire one. Why? People ask that question while letting the year roll by until taxes come due. Oh no! Why do I have penalties? Simple, you are not an accountant […]
Small Business Accounting Basics
When it comes to accounting, many small business owners think it’s boring and unimportant. They’d rather focus on things they think are more critical to their business, such as product development, marketing, etc. However, as a matter of fact, accounting is a very important factor for a small business to […]