Recent Articles

Balance Sheet

The balance sheet compares the assets of the company against the sources of those assets. Sources include borrowing money to earning the money. Learn about the different classes of assets, liabilities, and the owner’s equity.

Bookkeeping – Closing the Books (Lesson 69)

08/12/2017

All the lessons to date lead into this one long and arduous task with bookkeeping called ‘Closing the Books’.   Closing of the accounting records is performed at the end of interim and fiscal year periods.   The end of the year [...]

Leverage in Business

07/08/2015

In the simple lever and fulcrum machine the force is magnified onto a load.  The machine creates a mechanical advantage, a form of force amplification.  In business the principle is exactly the same.  Except here we are not moving a physical [...]

Internal Controls – Fixed Assets

07/06/2015

Internal controls is an accounting system to aid in proper reporting of existing assets and liabilities.  Internal controls over fixed assets alleviate two distinct risks.  The primary risk is physical in nature and relates to the asset getting [...]

Financial Statements for the Small Business

07/02/2015

Financial statements serve the purpose of presenting economic activity and status related to a particular date and over a particular time frame.  Accountants record monetary transactions and via financial reports present the information in an easy [...]

Job Cost Reports – Balance Sheet Set

06/15/2015

Construction accounting uses job cost reports to inform management of progress and existing issues with projects.  There are several different sets of reports.  The balance sheet set functions as an overall financial picture for the company.  The [...]

Project Reports – Introduction

06/09/2015

There are basically three groups of financial based project reports.  Each set has its own priorities and purposes.  Project reports are a function of production reporting with the exception of the balance sheet set (commonly used for cash flow [...]
1 2 3 4