accounting methods

Accounting methods are essential for small businesses. They track income, expenses, and assets; help with cash flow, budgeting, and predicting future trends; and are necessary for creating financial statements that attract investors and secure loans. What are accounting methods for small business?

Understand GAAP (Generally Accepted Accounting Principles)? Must do! It’s a set of rules, standards, and procedures that guide accountants in preparing financial statements. Let’s focus on one of the most important principles consistency. It requires companies to use the same accounting methods and policies over time. What’s the most important GAAP principle?

If you’re new to accounting or need a refresher, this article on Understanding the Basis of Accounting is a must-read.

If you’re new to accounting or just need a refresher, this article will guide you through the steps of the accounting process.

If you’re looking to gain a better understanding of modified accrual accounting, this article is for you.

Accounting Procedures can play a role in continual improvement, not just compliance if you use your accounting Procedures to drive internal control.

Understanding how your own accounting software works is as important as understanding the actual double entry accounting that is occurring “behind the scenes”.

Lean is a journey. If you’re like most companies, your lean journey starts in manufacturing with something simple like a 5-S program and then moves on to more difficult lean tools like analyzing your value streams and then eventually reorganizing your whole supply chain. This is all great stuff but when are you done? What […]

Accounting methods and accounting standards are typically defined within your accounting manual, which also defines your policies, procedures, and internal controls for Sarbanes Oxley and other compliance needs.