Earnings Projections: Big Value to Small Business

Lockhead Martin recently reported that they are projecting their year end earnings for 2011 to be up 25%. This adjustment to their annual earnings projections came after they had reviewed their third quarter reports. Whirpool, on the other hand, has announced that they will be closing one plant and laying off 5,000 workers in the next year, after reviewing their third quarter financial reports. These are large, publicly held corporations. Their announcements, positive or negative, have a big impact on their stock value. Read More »

Tags: Accountant, Accountants, Business Management, Business Owner, Critical Piece, Financial Position, Fundamental Business, Good Intentions, Lockhead Martin, Management Tool, Running A Business, Small Business Owners, Stock Value, Stockholder, Tax Strategies, Variances, Wall Street Journal, Whirlpool, Whirpool, Year End

The Devilish and Dangerous Debit Card

What could possible be dangerous about a business owner’s debit card? It’s attached to the checking account, so he’s not as likely to accumulate debt on it like he could a credit card. It is much easier to carry around than a checkbook, and as already stated, won’t accumulate an unpaid balance like a credit card would. Where’s the danger? There are two actually. Let’s look at them. Read More »

Tags: Accountants, Atm Machines, Business Card, Business Expense, Business Owner, Business Owners, Card Punch, Checkbook, Checking Account, Credit Card, Credit Cards, Debit Card, Irs, Lost, Missing Receipts, Personal Cash, Personal Purposes, Riot Act, Transaction Fee, Unpaid Balance

Startup Capital: How Much Do I Need?

The necessary amount of capital required to start a business varies from one venture to the next as far as clean, net dollars are concerned. Each venture is unique unto itself and only you, the business owner and author of the business plan, may have the most accurate grasp of what you’ll need to get off and running. The amount you’ll need will hinge largely upon the scope of your business as you project it within its first year of life. Read More »

Tags: Accountants, Accounting Fees, Budget, Business Owner, Business Person, Business Plan, Coffers, Daily Basis, Expense Plan, First Years, Grasp, Investors, Monies, Obligation, Office Supplies, Receivables, Salaries, Scope, Six Months, Startup Capital

Transform Your Business With Spreadsheet Accounting – Part 1

When a new client approaches me to do their accounting for them, they often bring in their previous financial “system”… which usually consists of cardboard box overflowing with files, receipts, envelopes, and notebooks of spreadsheets. The first thing I do, before I start any official “help-them-save-money-and-make-more-money” accounting work, is to roll up my sleeves and systematize the avalanche of papers.

If your small and growing business doesn’t have an accountant yet, or if you want to make it really fast for your accountant to get through your records and start delivering the meaningful insight that you are hiring them to provide, you need to build and implement a spreadsheet-based accounting system as early as possible.

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Tags: Accountant, Accountants, Accounting System, Avalanche, Business Profitability, Cardboard Box, Cash Flow Statement, Envelopes, Google, Google Spreadsheets, Gross Profit, Income Statement And Balance Sheet, Meaningful Insight, Microsoft Excel, Profit And Loss, Profit And Loss Statement, Receipts, Spreadsheet, Step 2, Step 3