Category Archives: Business Accounting

An Introduction to Ethics for Accountants

Ethics for Accountants

Accountants and business owners alike need to understand ethics, biases and how to identify ethical issues. As Merriam-Webster defines it, ethics is the discipline dealing with what is good and bad with moral duty and obligation. It’s a set of moral principles; a theory or system of values. Ethics is… Read more »

Fraud Basics for Accountants

fraud basics for accountants

It’s important that accountants know what to look for when identifying fraud and how to deal with the various kinds of fraud. All accountants need to know their fraud basics. Accountants need to always keep an eye out for fraud. Fraud can be committed by anyone- employees, consumers, organizations, individuals,… Read more »

Bankruptcy Basics for Forensic Accountants

bankruptcy

Bankruptcy is important for forensic accountants and auditors to understand. It’s also a niche that can differentiate an accountant as a specialist. Bankruptcy is a complex process many accountants come across in their work and a niche expertise that can help differentiate accountants in their market. That’s why we’ve created… Read more »

Best Business Deal Ever Made

Huge success requires risk-taking, a well-conceived plan, and the guts to ask for something that may seem outrageous. Here are my best business deals ever, and three great business decisions that led to three of the most successful companies ever. Microsoft and MS-DOS I loved Asim Oureshi’s Quora answer regarding… Read more »

Critical Advice For Startup CEOs

If you’re tenacious- and you’re willing to constantly adapt to change- you can make it as a start-up CEO. If not, you’ll almost certainly fail. Now, that’s a pretty strong statement, but my experience tells me that tenacity and adaptability are the two key traits that a CEO (any CEO)… Read more »

How to Evaluate Internal Controls –for Accountants        

evaluate internal controls

Accountants must know how to evaluate internal controls. Here’s a brief outline of what internal controls are and the COSO Framework for internal controls. Accountants need to know how to explain their methods for evaluating internal controls and recognize different types of deficiencies that can be present in organizations’ internal… Read more »

Industries That Generate High Profit Margins

high profit margins

Whoever invented Doritos was a genius. I love my Doritos, and I’d be willing to pay more for them, if necessary. How much more? I’m not sure, but if the price went up 50 cents for a bag, I might be able to live with it. We all have products… Read more »

Cash flow tools you must use- even if you’re consistently profitable

“I’m sorry- I’ll have to check with my manager.” Well, that’s odd, I thought to myself. I was in a bank teller line about 15 years ago, cashing a check from a fairly new client. I’d been paid 2-3 time before, but I’d simply deposited the cash at my bank…. Read more »

Little Known Factors That Impact Inventory

  What happened to my cash? This is a common question that business owners ask themselves all the time. Say, for example, that you invest $30,000 in cash into your business. Three months later, your cash balance is down to $10,000. If you’ve been generating a profit, the lower cash… Read more »