For businesses with fiscal years that coincide with the calendar year, the slate of revenues and expenses will be wiped clean on New Year’s Day. Starting with a clean slate gives us a chance to reflect on our 2012 results before we enter 2013 and experience the hope that comes with a new year. Hindsight is always valuable, and we can learn important lessons from our past mistakes that we can now more objectively look…
Read MoreWhen you think of an accountant’s duties, you might think about traditional tasks, such as tax preparation, bookkeeping, and financial statement preparation. Here are five additional tasks that accountants can help with that you might not think of. 1. Evaluating Current Accounting Employees How can you know if your accounting employee is a star that does everything right, is organized, and is fast or if you’ve accidentally hired someone who talks a good game but is…
Read MoreYear-end is coming up for many businesses, and it’d be nice to know what your final revenue and profit numbers will be for the year. Before we can calculate these key numbers, there are year-end adjustments that may need to be made to your books that will change the numbers. Here are seven common ones. Bonuses It’s great to give bonuses to employees at year-end, but it’s not so great to forget about the tax…
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