Small Business Accounting- Unearned Revenue
Monday, June 17 2013
In small business accounting, some concepts can be trickier than simply recording assets, liabilities, and transactions. Some companies receive advances in payments before actual services are performed. In accounting, this is called Unearned Revenue. Unearned revenue must be reported in order for companies to comply with GAAP* principles. When the company receives an advance, it
- Published in Latest, Small Business Accounting
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Managerial Accounting-The Sarbanes-Oxley Act
Friday, June 14 2013
Even if managers aren’t actively filling out financial information, it’s important that they have a firm grasp on rules and standards for filling out financial information. Also, understanding financial information itself is critical for managers to make informed decisions. In this post, we will discuss the Sarbanes-Oxley Act and its implications on businesses and managers.
- Published in Latest, Small Business Accounting