Accounting Principles

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 operation.  These are the income statement and the balance sheet.

Research Your Business Plan – Part I

Business Plan

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 is this what I truly want to do.

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