Recent Articles

Benefits

The second most expensive section of the CSR is benefits. This includes health insurance provided by the company, retirement benefits, other forms of medical and life insurance. Sick leave to vacation time is included here.

Payroll – Introduction to Basic Concepts

08/12/2014

Payroll is envisioned as the simple employer employee agreement related to compensation for services.  I often think of this as the simple handshake whereby the employer agrees to pay the employee a set rate per hour of work.  This was true a [...]

Simple Retirement Plan – Section 408(p)

03/26/2014

There are several different retirement plans available to the small business owner.  But no plan offers so many advantages to small business as the Simple retirement plan.  The positive attributes include: 1) Easiest to understand, 2) Least amount [...]

Accrued Payroll – An Explanation

04/01/2013

Accrued payroll is a current liability comprised of four sections.  The first is the amount of payroll earned by staff and not yet processed or paid.  The second is the dollar value of personal time off accumulated for each employee aggregated [...]

An Introduction to the Employee Manual (Handbook)

03/11/2013

The employee manual is a guidebook and a tool to explain the policies and procedures for the small business operation.  It addresses the basic expectations for performance and conduct of the employee.  The manual is only a guide and the employee [...]

The Different Forms of Compensation

01/21/2013

There are two forms of compensation provided to employees; direct and indirect.  Direct forms of compensation have a multitude of types or methods, from salaries to bonuses.  Indirect compensation is primarily the various types of benefits and [...]

The True Cost of Labor

01/01/2013

I laugh at the definition of labor costs because in my opinion the so called experts only have it half right.  Labor costs are more than just gross wages and benefits.  It should include the costs of insurance, employer taxation, human resources [...]

Introduction to Human Resources Management

12/12/2012

Matching the right person to the right job is the primary objective of any human resource manager. If you had a company of highly trained, well informed, and happy staff, you would control the best place to work in the whole wide world. So to me, [...]

Service Equals Timeliness and Accuracy

11/29/2012

In the world of accounting, we stand on two principles; timely and accurate information for the client.  Without either, the client can’t make good decisions.  As accountants our job is to record economic transactions and report this information [...]