Business Principles

Basic business principles are used by almost all business operations from start-up’s to long lived corporations. There are three levels: 1) tenets, universally unbreakable rules; 2) principles, widely used rules but not pure with all industries; 3) standards, sector/industry wide norms used to comply or gauge performance.

Economic Uncertainty

The term ‘economic uncertainty’ has an historical definition which has been modified due to the pandemic response. This article will cover the historical meaning and then its updated definition.

Job Costing

Job costing is one of the forms of cost accounting. It is used in conjunction with financial accounting to alert management about profitability with production. A common thread that binds job costing is a signed contract. 

QuickBooks Online – An Accountant’s Review: ‘D+’

QuickBooks Online

The first time I used QuickBooks, it was the DOS version. That was over 20 years ago. Today, there are a multitude of versions for QuickBooks. QuickBooks Online doesn’t measure up to Intuit’s Enterprise versions. It isn’t even close. There are many issues the Online version has and thus the end reporting function is limited. However, there are a few interesting advantages. This accountant’s review helps the reader to understand the advantages and issues the Online version has.

Value Investing

Value Investing

Value investing is a concept of buying and selling stocks based on business fundamentals and not as a reaction to news or market trends. It is a well accepted principle that often the market overreacts to news causing stocks to plummet in price or escalate in value. Value investors ignore this and use sound business fundamentals to trade stock. Much of historical wealth accumulation is based in value investments. There are no short-cuts or sudden actions taken by value investors. All decisions are derived by business analytics and trend lines.

Job Costing Reports – Introduction (Part 1)

Job Cost Reports

Job costing reports are management tools used to evaluate project or production performance against a known or estimated standard. They are used in many business sectors and their respective industries. The primary purpose of job costing reports is to identify discrepancies or beneficial results, usually in the form of financial values. They can be used to report both financial and numerical production outcomes.

Business Principles – A Pyramid of Levels

Business Principles

There is no universal finite set of business principles. In the aggregate, there are over several hundred of them. Many of them are not applicable to every industry, on the contrary, many are specific to a unique business or industry. The best approach to understanding business principles is to look at this in a holistic manner, i.e. overall doctrine down to a few rules specifically designed for that one business.

Class Accounting With QuickBooks

Class Accounting

Class accounting is one of the options available with QuickBooks software. Most accountants and bookkeepers misunderstand its purpose and how to properly implement this wonder tool of accounting. If you are considering using class accounting and want to have a full comprehensive understanding, this is the article for you. 

Insolvency – Detection

Insolvency

Insolvency refers to the ability to pay bills in a timely manner. It does not mean bankruptcy but long-term insolvency is a underlying factor of bankruptcy. Many owners and/or managers of small business have no idea of how to determine if the company is insolvent or headed towards the inability to meet their day to day obligations.

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