Practical Ideas for Building Your Business Online
Explore practical tips on home-based business, online marketing, affiliate programs, and the tools that help you build and grow your presence on the web.
-
Profit and Loss
It might seem like a no-brainer to define just exactly what profit and loss are. But of course these have definitions like everything else. Profit can be called different things, for a start. It’s sometimes called net income or net earnings. Businesses that sell products and services generate profit from the sales of those products…
-
How is accounting used in business?
It might seem obvious, but in managing a business, it’s important to understand how the business makes a profit. A company needs a good business model and a good profit model. A business sells products or services and earns a certain amount of margin on each unit sold. The number of units sold is the…
-
Careers
There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of a company. To achieve positions with more responsibility and higher salaries, it’s necessary to have a degree in accounting as well as achieve various professional designations. One of the primary milestones in any accountant’s career…
-
What does an audit report contain?
Most audit reports on financial statements give the business a clean bill of health, or a clean opinion. At the other end of the spectrum, the auditor may state that the financial statements are misleading and should not be relied upon. This negative audit report is called an adverse opinion. That’s the big stick that…
-
What does an audit do?
If a business breaks the rules of accounting and ethics, it can be liable for legal sanctions against it. It can deliberately deceive its investors and lenders with false or misleading numbers in its financial report. That’s where audits come in. Audits are one way to keep misleading financial reporting to a minimum. CPA auditors…
-
What is accounting fraud?
Accounting fraud is a deliberate and improper manipulation of the recording of sales revenue and/or expenses in order to make a company’s profit performance appear better than it actually is. Some things that companies do that can constitute fraud are: Not listing prepaid expenses or other incidental assets Not showing certain classifications of current assets…