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Accounting, Bookkeeping and Tax Guide

accountingUnderstanding Balance sheet

A balance sheet is a quick picture of the financial condition of a business at a specific period in time. The activities of a business fall into two separate groups that are reported by an accountant. They are profit-making activities, which includes sales and expenses. This can also be referred to as operating activities. There are also financing and investing activities that include securing money from debt and equity sources of capital, returning capital to these sources, making distributions from profit to the owners, making investments in assets and eventually disposing of the assets. (Read More)

accountingBusiness Accounting and The Importance of Keeping Good Books

There has probably been no great accountant turned entrepreneur then Capitalist then Rockefeller who used his accounting skills to take over the entire Oil Industry back in the day. He kept immaculate books and started out as a promising young accountant. When he noticed competitors he would often ask them to join him and show him his books and costs. Why they were simply blown away and they knew they could not compete with his low costs and so they either merged or sold out to the young Rockefeller. (Read More)

accountingBookkeeping Tips

Bookkeeping is the process of maintaining books of accounts involving daily transactions. Bookkeeping indicates the exact position of business finances. Bookkeeping can be done manually or through a computerized system. Manual bookkeeping is doable for beginners and small business firms, but as the business develops, a computerized system of maintaining accounts will be beneficial. (Read More)

accountingSample Company File in QuickBooks - Valuable Tool for Self-Study

Have you ever wondered what would happen in your QuickBooks file if you performed certain operations, but were too afraid to try? Did you know that you can experiment with your ideas, and not make a mess in your QuickBooks file? (Read More)

accountingFour Symptoms Your Small Business Accounting System Doesn't Work

Every year about this time, I see too many accounting systems that don’t work… QuickBooks and PeachTree and Microsoft Small Business Accounting programs that don’t do what their small business users want or need. Sometimes, people know their accounting systems don’t work. And they don’t care. But, sadly, sometimes, the struggling small business person doesn’t even know his or her system isn’t working until it’s too late. Until the business fails because the owners don’t realize they aren’t making money. (Read More)

accountingControl Your Accounting and Bookkeeping Costs

When you first started your business, you probably did your own accounting; and that worked out fine. You were short on spendable capital and doing most of the necessary chores yourself was the only way to get started. But eventually, you got to a point where you really needed to concentrate on the income-producing aspects of your business and hire others to tend to the details. (Read More)

Accounting Blog


Accounting News

BDO (SA) Selects Maconomy’s Tax, Audit and Accounting ERP Solution
Maconomy, the international supplier of ERP solutions for Professional Services Organizations (PSO), has signed a deal with the South African audit firm BDO Spencer Steward, a part of the world's fifth-largest accounting network. The deal includes an ERP solution for 480 users. (Fri, 03 Jul 2009 05:00:19 GMT)

SEC CHARGES FORMER CHIEF ACCOUNTING OFFICER OF BEAZER HOMES FOR FRAUDULENT EARNINGS MANAGEMENT SCHEME
The Securities and Exchange Commission today charged the former chief accounting officer of Atlanta-based home builder Beazer Homes, USA, Inc., for conducting a multi-year fraudulent earnings management scheme and misleading Beazer's outside auditors and internal Beazer accountants in order to conceal his wrongdoing. (Fri, 03 Jul 2009 04:25:22 GMT)

Access Accounting restructures and rebrands
Access Accounting, the financial software suppliers, will now primarily be focused on consulting in a restructure by its parent company, ATG, which is consolidating its subsidiaries. (Thu, 02 Jul 2009 15:51:51 GMT)

SEC Charges Ex Beazer Accounting Chief with Fraud
The SEC has charged the former chief accounting officer of Beazer Homes with conducting a fraudulent earnings management scheme for over five years and misleading the home builder s outside auditors and internal accountants. (Thu, 02 Jul 2009 15:06:13 GMT)

Nigeria: Accounting Board Partners NERC to Improve Standards
Lagos — The Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Accounting Standard Board (NASB) are collaborating to develop an accounting system to aid the determination of electricity tariff, report cost and expenses for the Nigerian Electricity Supply Industry (NESI). (Thu, 02 Jul 2009 12:16:58 GMT)

Ex-Beazer Accountant Sued by SEC for Accounting Fraud (Update1)
July 1 (Bloomberg) -- Beazer Homes USA Inc .’s former chief accounting officer was sued by the U.S. Securities and Exchange Commission for fraudulently managing earnings to meet analysts’ expectations and boost executive bonuses. (Wed, 01 Jul 2009 21:28:23 GMT)

Neverland Accounting
Why Michael Jackson's balance sheet looked like an ailing company's. (Thu, 02 Jul 2009 19:12:01 GMT)

BDO (SA) Selects Maconomy's Tax, Audit and Accounting Solution
BOSTON----Maconomy, the international supplier of ERP solutions for Professional Services Organizations , has signed a deal with the South African audit firm BDO Spencer Steward, a part of the world's fifth-largest accounting network. (Thu, 02 Jul 2009 18:40:00 GMT)

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