Author: David J Hoare MSA
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Business Trusts
The common law definition of a business is an investment of capital or property by individuals which creates the means to carry on towards the goal of generating a profit. Every state recognizes different legal formats to conduct business. The simplest and most common is the sole proprietorship. Other forms include partnerships, limited liability company and of course…
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Gathering Data from Sales
In business the best source of new business is the existing customer. Discovering the customer’s habits and characteristics allows the sales department to expand into new geographical territories with similar customer characteristics and/or modify the existing product lines. The key to success is gathering the proper information at the point of sale.
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Replacement Reserves- Understanding the Fundamentals
Long and short term housing rental businesses use a financial operations tool to maintain, repair and upgrade the physical facilities. This tool is known as replacement reserves in the real estate industry. In almost all cases it is a contractual agreement requirement between the mortgage lender and the borrower.
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Bookkeeping – Debits and Credits with the Trial Balance (Lesson 16)
The primary report used by accountants is the trial balance. It is the job of the bookkeeper to make sure that it is in balance and that there are no abnormal values within the respective types of accounts.
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Bookkeeping – Complex Entries (Lesson 15)
Many bookkeepers are initially misinformed about the dual entry accounting system. They think that based on the wording that accounting entries have only two lines of information, one line for a debit and a second line for a credit. What the words dual entry mean is that debits must equal credits.
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Bookkeeping – Debits and Credits in Parenthesis with the Profit and Loss Statement (Lesson 14)
Both contra and atypical values are reported with parenthesis. The same presentation format is used when reporting contra and atypical values on the profit and loss statement (income statement).
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Business Dynamics of Hauling
One of the industries in the transportation sector is materials hauling. This is your dump truck industry. All of us see these trucks out on the highway usually hauling gravel or dirt. To profit well, efficiency is the primary business principle. Lack of efficiency drives up fuel costs, loss of time in hauling; increased maintenance and repairs, and finally…
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Working Capital Management – Fundamentals
Working capital management is a function of finance whereby management ensures adequate cash is available to meet operational needs over the typical working capital cycle.
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Treasury Stock – Fundamentals of Stock
Those corporations doing well and flush with cash sometimes buy back stock from their investors. Once purchased back by the company, the stock is called treasury stock.
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Retaining Stylists In The Salon Industry
The constant movement of stylists from one salon to another is actually bad business. How do you, as the owner, prevent or minimize this employee turnover? The answer lies in basic employee desires and needs in comparison to the salon’s needs and priorities.