Recent Articles

Accounting Cycle

The accounting cycle is the period of time for normal production and or financial reporting. For more than 95% of businesses it is a one year cycle. There are exceptions to the rule for those businesses that have cycles matching the cycle time of their products.

Operating Control Reports in Business

02/16/2013

A part of any information feedback loop is the operating control reports in business.  Depending on the nature and financial impact involved, these reports can be daily (Daily Operating Controls or DOC), weekly (Weekly Operating Controls or WOC) [...]

Create a File Structure for Accounting

01/18/2013

Creating a file structure for accounting is critical for the overall success of the business.  If properly structured, data retrieval and information access add to the overall value of the company.  This article teaches the new business owner how [...]

The Definition of Fixed Assets

01/05/2013

Any tangible item not consumed within one accounting cycle (typically a year) and providing long term utility is referred to as a Fixed Asset.  Traditional images include manufacturing equipment, tools, transportation vehicles, buildings and [...]