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In the age of the Internet, I think almost everyone should have an online business… if only for the growth experience. It doesn’t cost much to start one, but it will teach you so much. Perhaps the greatest benefit is that you’ll learn you do have something of value to share with the world, something ...

I love the lifestyle that comes from running an online business. I get to work from home each day, set my own hours, choose my own projects, and enjoy abundant income. It’s hard for me to imagine how I’d feed myself without the Internet. When I think about income generation, I immediately think of ...

Book keeping usually involves only the recording of business transactions (transactions) and is therefore, just one part of the accounting process. Accounting on the other hand, involves the entire accounting process, i.e. identification, measurement, recording, and communication. Now-a-days, much ...

Accounting entity assumption states that the activities of a business entity be kept separate from its owners and all other entities. In other words, according to this assumption business unit is considered a distinct entity from its owners and all other entities having transactions with it. For ...

Qualitative characteristics of financial statements

• Understandability
• Reliability
• Comparability
• Relevance
• True and Fair View/Fair Presentation

Starting your own business can yield amazing rewards but at the same time its a pretty big risk. I was recently asked in the Q&A why people fail at starting their own businesses. I came up with several reasons and wanted to expand more on this.

Fear – Its balls out to quit your day job and start ...

Accounting records relate to the past transactions, which provide fairly good account of the economic activity of the business enterprise. However, from decision-making viewpoint we need information, which relates not only to past but also about present and future. Financial accounting makes ...

First record, then pay; if there is an error, trace it from the records. Human memory is short. Even the most brilliant executive or manager cannot accurately remember what he might have observed regarding the daily operations. He need not strain his memory unnecessarily, if proper and complete ...

1.Keep in mind that networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
2.Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. Some ...

Tip#1- Focus on Clients
True, you are representing your company, but, your focus should be on the client. It is the client who is going to make sure you stay on the job. Try and get to know the clients as much as possible. They have to taken care of, monitored and pampered. Ask them questions ...