Business Principles – Page 14 – Business Administration

Profit and Loss Statement Using Class Accounting

Sep 27, 2015

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in Report Analysis – How to Read the Statements

Class accounting breaks down sales and the associated cost of sales into functional groups. Whether you use divisions or departments or product/service lines class accounting allows you to identify those more profitable areas of operations.

Hiring Process – 5 Steps

Sep 27, 2015

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by

David J Hoare MSA

in Human Resources Management

Just like a manufacturing assembly line, the human resources department uses a process to find potential candidates, recruit qualified applicants, interview, hire and train the best person for the respected position.

Micro Business

Sep 20, 2015

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by

David J Hoare MSA

in Business Principles Start-Up

Micro businesses are all around us. Often overlooked and rarely given a second thought they are the backbone of our economic system. From the local beauty salon to the Mom and Pop pizza shop; micro businesses are everywhere. Micro business is defined as the small closely held operation that provides a family a supplemental or primary…

Bookkeeping – Debits and Credits with Parenthesis on the Balance Sheet (Lesson 13)

Sep 12, 2015

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

Contra information is always reported in parenthesis. Other financial information is also reported using parenthesis with the two primary financial statements. This lesson explains parenthesis in balance sheet accounts.

Bookkeeping – Contra Accounts (Lesson 12)

Aug 27, 2015

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

Contra accounts are utilized to help present clearer information to readers of financial reports. They are used to improve the decision model.

Bookkeeping – Chart of Accounts (Lesson 11)

Aug 22, 2015

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

To properly create a set of ledgers there must be a list of accounts. This list is referred to as the ‘Chart of Accounts’ or for shorthand – COA.

Bookkeeping – Debits and Credits in Equity Accounts (Lesson 10)

Aug 21, 2015

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by

David J Hoare MSA

in Bookkeeping – Introduction and Basic Understanding

The equity section of the balance sheet identifies the approximate dollar value of net worth accrued to the owners/investors. Equity accounts can have both credit and debit balances.