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Accounting & Operations Blogger

Top 10 U.S Colleges for an Accounting Degree

2/29/2016

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Accounting is a profession for those interested in math, business and have the skill to think outside of the box.  An accounting degree can open up many opportunities in varies industry's with rewarding compensation.

​USA Today has done most of the work for our young professionals by listing the "Top 10 colleges for an accounting degree".  The Accounting profession rules!
The only way to do great work is to love what you do.  If you haven't found it yet, keep looking.  Don't settle." - Steve Jobs
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Real Estate Accounting

2/29/2016

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Tips to Consider for Your Small Business

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Forget all the reasons it won't work and believe the one reason that it will." - Unknown
Accounting exist for our entrepreneurs in the real estate business also.  If real estate is your new business venture or if your a veteran to this industry, I found this article to be a great read with useful information.

​The full article is, Accounting in Real Estate - 4 Technology Tips.
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we all have a professional passion, what is yours?

2/28/2016

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Finding your career passion can be one of the most difficult things in life, in my opinion. Don’t get me wrong, some people have known since childhood – what they want to be when they grow up. But for the group of us that don’t, we should take the personal time and write down what it is we feel passionate about. ​
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What are your strengths?  Who inspires you? What do you enjoy the most about your current role? What are your skills? What are positive things mentioned in your company annual reviews?  What has your family always seen as your passion?
You can also think back to your childhood – where you into numbers, craft, drawing, coming up with new ideas, charts and graphs, art, acting or sports?  These are questions and thoughts that may lead you to deciding if a career change is in store for you.
​

​Black Enterprise Magazine published an article, “Finding Your Professional Passion”.  Please take time to read and share with family and friends.
Do what you can, where you are, with what you have." - Teddy Roosevelt
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Does your Small Business offer a Pension Plan?

2/26/2016

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What is PBO?

Are you a small business owner planning to offer new or additional benefits to your employees? Have you discussed this idea with your accountant? Do you understand what this means for your business?

​The Houston Chronicle published an article, "How to calculate projected benefit obligation", for small business owners in which it provides insight to what a pension plan, specifically the PBO pension, means for management and the employee and how to calculate it.

​​The projected benefit obligation (PBO) is a pension concept in accounting. The PBO is the present value of an employee's pension. For a small business, the PBO will be an amount the company needs now in its pension plan to cover future pension obligations to its employees. Generally, companies will use an actuary for this calculation due to the complexities of pensions.
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Yesterday is not ours to recover, but tomorrow is ours to win or lose. – Lyndon B. Johnson
​
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Oil and Gas accounting 102

2/26/2016

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What Is Exploration Cost?

After acquisition cost comes exploration cost. Typical of exploration, cost are charges relating to the collection and analysis of geophysical and seismic data involved in the initial examination of a targeted area and later used in the decision of whether to drill at the location. 
Source:  Investopedia.com
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Prime yourself for success by elevating your mood. - Inc. Magazine
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Small Business Loan News

2/25/2016

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Are you Concerned About a Small Business Loan?

If you are a small business owner considering the step of applying for a small business loan - this article is for you.  Black Enterprise magazine encourages owners to start with their community bank first. 

​Please read the full article for further knowledge on small business support.​
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Did You KNOW?

2/25/2016

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accounting has ranked the most popular major on campus

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Did you know?  The undergraduate degree chosen by Nike founder Phil Knight, Home Depot co-founder Arthur Blank, former acting director of Federal Bureau of Investigation (FBI) Thomas Pickard, and numerous members of Congress was Accounting.

​Accounting is the financial information system that provides the insights of what is happening financially in organizations.

​The success in any business comes back to the numbers.  They can be relied upon to make decisions and evaluate performance.  In many organizations it is common to spend resources on employees to educate and teach them more about the financial reporting and how their role contributes to the companies overall financial results. 

Fontenot & Associates Solutions offers training for small businesses and corporate organizations.
You are on the right path.  Keep pushing.
Source:  Financial and Managerial Accounting
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What Is Accounts Payable?

2/24/2016

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​The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll.  Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate.   The amount of invoices paid daily within a company will depend on the size and activity.  Key items an Accountant should look for when reviewing invoices are rates, dates, descriptions and quantity.  These same items are reviewed by a company's internal control group in addition to ensuring the proper approvals were received before payments are processed.
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Source:  AccountingCoach
The question isn't who is going to let me; it's who is going to stop me." - Ayn Rand
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Oil and Gas Industry 101

2/24/2016

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Let's Talk Royalties

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​What is a royalty? How is it calculated? What is it based on?
Whenever oil or gas production begins, the landowner is entitled to part of the total production. A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the Lessee's production costs. The royalty is paid by the Lessee to the owner of the mineral rights, the Lessor in the Lease. It is based on a percentage of the gross production from the property and is free and clear of all costs, except for taxes.

​​It is probably the most important part of the lease to the landowner. ​There are certain costs in drilling and producing a paying oil or gas well. The costs are divided between the production company and the landowner.  As a revenue accountant working in an oil and gas company the role of processing revenue accurately is critical to the team and company. 
Source:  Oil and gas leases.com
Eighty percent of success is showing up." - Woody Allen
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most popular accounting professions

2/23/2016

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If you want to lift yourself up, lift up someone else."
Pursuing an accounting career can open many doors for an individual.  It’s not until most of us finish college that we decide on which industry we want to work in.  After college,  most young professionals  are eager and excited about landing their first job that the industry chosen is generally the first company that makes them an offer.  However, it's never too late to do some career searching and find the job that you love .
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Forbes magazine published an article that may help someone in determining which Accounting profession they would prefer to begin with after college by giving us the Top 3:
× Accounting, Tax Preparation, Bookkeeping, and Payroll Services
× Legal Services
× Oil and Gas Extraction
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