Tag Archives: accounting

  • Accounting & Bookkeeping

    Posted on April 15, 2014 by Tao

    Accounting and bookkeeping are two different subjects.  Accountancy defined:
    Accounting, or accountancy, is the measurement, processing and communication of financial information about economic entities.[1][2] Accounting, which has been called the "language of business",[3] measures the results of an organization's economic activities and conveys this information to a variety of users including investors, creditors, management, and regulators.[4]
    Now [...]

    This post was posted in business and was tagged with accounting, best practices, business, tips

  • Check Your Bills

    Posted on March 18, 2014 by Tao

    One of the most boring aspects (and one I occasionally skip) is the checking of bills.  Bigger organisations obviously have an accounts payable individual who deals with it, but when you are the owner of a small store like we are; you got to do it yourself.
    It's extremely important for us to check bills coming [...]

    This post was posted in business and was tagged with accounting, bills, verification

  • The Profit Mirage

    Posted on May 27, 2013 by Tao

    Finally! You broke-even and are now paying yourself a salary. Heck, you've got even a little profit.  It's over, you're good to go and you can relax now. Right?  Not quite.
    What is Profit?
    Before we go any further, let me define profit for you.  I'm going to use Profit in the Accounting definition; that is [...]

    This post was posted in business and was tagged with accounting, business, musings, profit

  • The business of keeping the business running

    Posted on December 14, 2011 by Tao

    It always amazes me the sheer amount of work required to keep a business running that customers never see.  Before I got into business for myself, I never really had a clear idea about the sheer amount of work the business of running the business would entail.  I'm not talking about marketing or design or [...]

    This post was posted in business and was tagged with accounting, backend, business, practices

  • Best Practices : Cashflow is King (5)

    Posted on December 20, 2010 by Tao

    Businesses do not go out of business because they are making a loss - they go out of business because they no longer have the cash to meet their obligations.
    The main point about this article is to highlight the various variables that affect the amount of cash you have on-hand.  This is not about mitigating [...]

    This post was posted in best practices and was tagged with accounting, business, cashflow, recommendations

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