Recent Articles

December 2014

Various Sets of Accounting Books

12/27/2014

Accounting’s primary purpose is to measure economic activity.  There are several different methods to determine the economic value generated in your business each year.  In accounting this is referred to as sets of books.  There are four basic [...]

Returns, Allowances and Discounts in Accounting

12/24/2014

In the revenue section of every income statement (profit and loss statement) is an adjustment group to sales.  This group reflects the value related to the actual sale of the product or services.  This adjusting group is comprised of three [...]

Vertical Integration in Business

12/20/2014

Vertical integration in business refers to the process of gaining control over more steps of the product production stream.  Whenever a business obtains or can greatly influence any one of these steps along the process of producing and selling a [...]

Inventory Management – Specific Identification Method

12/17/2014

There are several methods used to manage and track inventory in retail.  One of the most accurate inventory management tools is the specific identification method.  In this system each piece of inventory is monitored and tracked throughout the [...]

Mixed Costs

12/16/2014

Mixed costs are a more advanced business concept.  Mixed costs refer to a combination of both a fixed and variable component.  A common error made by most small business entrepreneurs is the misapplication of the formula.  Many small business [...]

Information Technology – Economic Forces at Work

12/09/2014

Have you ever wondered why technology is so expensive?  Why does the technology repairman charge more per hour than what many attorneys charge?  Why does it feel like you get nickeled and dimed to death with technology costs?   There are many [...]

Real Estate Investment Trusts – REITs

12/09/2014

Real Estate Investment Trusts are corporations, trusts or associations that act as agencies in real estate and associated mortgages. This is a specialized tax segment and it requires recognition by the Internal Revenue Service to operate as a Real [...]

Crowdfunding in Small Business

12/07/2014

The process of collecting a large pool of investors, each contributing or investing a small amount of dollars for a highly focused project is referred to as crowdfunding.  The crowd is financing the project or goal.  This is very similar to how [...]
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