Financial statements…every business produces them…or should. In most small businesses, they are most likely prepared monthly or quarterly and certainly should be prepared more often than only annually. Of course, the more frequently financial statements are prepared, the better. During the financial crisis caused by the global pandemic, financial statements...
Warren Buffet once said “Accounting is the language of business and you have to learn it like a language. Your accounting reports are like your scoreboard for your business. If you can’t read the scoreboard, you don’t know the score. If you don’t know the score, you can’t tell the...
If your company makes sales to out-ofstate buyers, do you need to collect state sales tax? Until recently, Supreme Court decisions from the 20th century declared that would not necessarily be the case. Example 1: ABC Corp., based in Alabama, sends a catalogue to customers and prospects. A consumer who...
