Keeping accurate financial records
is essential for every firm. Without accurate
records you cannot measure the degree to which
your firm is progressing. The accounting records
provide you with the information you must have
to evaluate the changes in the financial condition
of the firm, options that may be available you
as the manager, and control over the outcome of
past decisions.
This accounting section is designed
to help you understand the basics of generally
accepted accounting practices. It is NOT designed
to replace the professional services of your bookkeeper
or CPA firm. It is our belief that you, as the
entrepreneur/manager have some knowledge about
accounting so that you can better understand the
output of the financial information as well as
to be able to spot obvious errors before those
errors lead to an embarrassing moment with a lending
official. If you want to learn more about the
accounting process call your local community
college. They have a variety of classes available
in accounting
Below you will find links to pages
that will help you better understand the accounting
process. We recommend that unless you have detailed
understanding of the accounting process you should
either hire a trained bookkeeper or subcontract
your bookkeeping to a professional service. We
strongly recommend that you retain the services
of a CPA firm that can provide oversight of the
bookkeeping function and to provide you with technical
strategies to maximize your financial well being.
