Author: David J Hoare MSA
-
Introduction to Franchises
Simply put, Franchising is a partnership relationship. As a small business owner, you have to decide if you truly want to be in a relationship with an authority in your business operation. This can be a mutually beneficial arrangement or a nightmare from day one.
-
Research Your Business Plan – Part II
There is a process to determine the where of your plan. Sometimes it is obvious, if retail, then a retail location is ideal. If service and the customer travels to you such as a professional, then an appropriate office location is important. Focus on the type of office environment, medical should try to locate in…
-
Service Equals Timeliness and Accuracy
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 in a financial format. For the client it is imperative that the information is provided in a reasonable period of…
-
Retail Sales: There Are No Rules
First rule: THERE ARE NO RULES! Second rule: WHEN IN DOUBT, REFER TO THE FIRST RULE.
-
Self-Employment Tax: You Can Stop Staring At Me Now!
Simply put, this is a tax on your net earnings from your small business operation. If you are unincorporated, you have to pay this tax. This includes those in partnership arrangements, and in any form of Limited Liability Company status. Why don’t corporations pay the tax? Actually they do, it’s just called a different name.
-
Marketing – A License to Steal
I had the privilege of meeting a potential client in one of those business gatherings. I asked him the usual questions and he started to explain his business operation. Well, he was basically a landlord to a gaming function. When I become fascinated by the enterprise, I reoriented my questions to some specifics. Sure enough he charges…
-
How to Find a Good Business Attorney
In my 17 years of practice as an accountant I have met around 30 or so attorneys. All the interactions were in reference to business issues for my clients. Out of the 30 I have dealt with, I would hire two of them.
-
Cost Accounting – Case Study
Cost accounting is an effective internal accounting process to evaluate company performance at the product/project level.
-
Accounting Principles
Simply stated, accounting is the measurement of economic activity. Its primary principle is to report information to the user so that (s)he can make informed decisions. The primary reporting format is in the form of dollars. There are two important reports used by pretty much 99% of all business operations to determine the status of the business…
-
Research Your Business Plan – Part I
If you read my section on ‘Do I Need a Business Plan’ and followed those steps, you are now ready for the next step in this process. Hopefully two important barriers have been breached in your quest to be the next new business. First, you have answered the most important questions of who am I and…