Accounting BasicsPatents, copyrights, trademarks, and goodwill are long-lived assets that are used in the operations of a business and are not held for sale. These assets are called intangible assets because they do not exist physically.
The accounting for intangible assets is similar to that for fixed assets. The major issues are:
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What does it mean to bounce back from a business failure? It may define differently for all of us because each of our experiences are unique in itself. Black Enterprise magazine has an article that is worth reading and Kevin D. Johnson, provides entrepreneurs and small business owners with 3 Tips to Avoid Business Failure:
The secret to having it all is believing you already do." - Unknown Cross Culture Ventures. Who Are They?I came across an article in the March 2016 issue of the Black Enterprise magazine and it captured my attention immediately when it mentioned Cross Culture Venture and how they invests in entrepreneurs creating next-generation technology and consumer products.
Visit the companies website to learn more. "They are looking for game changers, companies that have the potential to impact the way people live their lives or create new opportunities for many." Don't look back, your not going that way." - Unknown Forbes magazine, has an article written mainly for the small business owners and entrepreneurs with important advice. This advice cannot be compared to our larger competitors because we are in a "break through" of our own. Those three tips are:
This is why I totally enjoy the opportunity to help at least one person a day on their journey through my blog and social media postings. Well all have our own unique "big break through"! Keep rocking! Enjoy the full article by clicking here. Oil & Gas Industry? What does it mean?Before an oil and gas company drills for oil, it first evaluates where oil and gas reservoirs might be economically discovered and developed.
Did you know? The earth is made up of a core over 4,000 miles in diameter surrounded by the earth's mantle, which is approximately 2,000 miles thick. The earth's surface is under lain by the lithosphere, a relatively thin layer, some 125 miles in thickness, that is composed of the crust and upper mantle. Commercial oil and gas are found only in the crust of the earth. ACAP (Accounting Career Awareness Program) is Taking ApplicationsAccounting Career Awareness Program (ACAP) primary objective is to increase the understanding of accounting and business career opportunities among high school students from underrepresented ethnic groups. This program is a one-week residency program for high school students held at a local college or university. I personally have had the opportunity to speak to young students and share my life and professional experience with them. Students are able to see first hand what the accounting and business profession could mean for them. The program now is in more than fifteen cities across the country.
Help the program by sharing this information. LinkedIn has an article posted about the ACAP program also. Out of the way world. I've got my sassy pants on today." - Unknown What Does that Look Like?The basic financial statements are useful to bankers, creditors, stockholders and others in analyzing and interpreting the financial performance and condition of a company. One tool we will share is useful in analyzing the ability of a company to pay its creditors.
The relationship between liabilities and stockholders' equity is expressed as a ratio of liabilities to stockholder's equity, is computed as following example: Ratio of Liabilities to Stockholders' Equity = Total Liabilities/Total Stockholder's equity Ratio of Liabilities to Stockholders' Equity = $400/$26,050 = 0.015 The rights of creditors to a business's assets come before the rights of the owners or stockholders. Thus, the lower the ratio of liabilities to stockholders' equity, the better able the company is to withstand poor business conditions to pay its obligations to creditors. Leave a little sparkle wherever you go." - Unknown Are you Ready to Open that Bakery?As with any decision to become an entrepreneur, opening a bakery can be a challenging task. But, you have finally made the decision to share your talent of luscious goodies and skills with the world. Have you completed your business plan for the next 3 to 5 years? How are you maintaining all of your recipes? A successful plan should take into account your future success.
One step that many forget to plan for is training or support - in this case, in the kitchen. Establishing policy and procedures is not a hard task to complete, in the beginning it may be tedious but that's what Fontenot & Associates Solutions is here for. Bplans and the Houston Chronicle both provide great articles about preparing for start-up and having a successful bakery. Do You have an Online Presence?Is your business in the start-up phase? Are you considering expanding your business? Does your business have an online profile? Did you know this may impact qualifying for a small business loan? An article published in the Inc. Magazine, "Want a small business loan? Your business better have an online presence", discusses and provides eight great tips. "You have more control than ever over your ability to qualify for a loan" -- set your business up for success. Everything you want is on the other side of fear." - Jack Canfield The quieter you become, the more you can hear." - Unknown Growing your Business? Building your Team?We can't hear it enough...teamwork is important for today and future success. Having employees who understand the companies goals and purpose leads to the ability to deliver consistent, high caliber service.
Well-written business policies and procedures allow employees to clearly understand their role and responsibilities within predefined limits. Policies and procedures allow management to guide operations without constant management intervention. The size of your company does not matter -- a start-up guide can be of use for your free support, intern, first employee and as a guide to the success of your business. Fear not, it's not too late. |
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AuthorMy mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions. |
We Work to Provide Unique Solutions"Our team of innovative professionals use their knowledge and experience to set your business and team of professionals up for success. Our extensive accounting and operations skills are a start and key tools to company growth, building team cohesiveness, establishing clear purpose and goals, and improving process inefficiencies. Our services are key to businesses of all sizes. We handle providing the detail framework to your business so that you may focus on building your business. |
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