(1) Definitions – We have to define some terms first: * Accounts Receivable represent amounts due from customers who have purchased merchandise or services on credit and who have agreed to pay within a specified period or when billed * Bad debts expense (synonyms: uncollectible accounts expense) represent amounts from […]
Accounting
The Depreciated Legacy of Cervantes
In The Art of the Novel Milan Kundera makes observations that echo Charles Baudelaire’s enraged comments concerning the values of literature in nineteenth century Europe. An embittered Baudelaire writes: “France is passing through a period of vulgarity. Paris: A center radiating stupidity in every direction. Despite Moliere and Beranger, no […]
Here Is Why Your Small Business Needs a CPA Firm
As a small business, you probably deal with a lot of financial matters on a regular basis. Important decisions must be made on time, and you must invest your time in various daily activities and tasks that have a significant influence on your resources. No wonder, entrepreneurs look for the […]
How Tally Confirms Its Top Position Over The Years
Tally, as an organisation, has gone through a roller coaster ride- right from being a start-up to a market leader, to seeing a meltdown in product pricing. It has several future goals and the main one is to become a 5,000 crore company in the near future. Bharat Goenka, the […]
The Central Theme of Rich Dad Poor Dad by Robert Kiyosaki – Look For Assets Not Liabilities
Rich Dad Poor Dad has been reviewed by many writers. The book, written in 1997 by Robert Kiyosaki, immediately became a success. The concepts expressed therein are the foundation of Robert Kiyosaki’s Rich Dad book series. Rich Dad Poor Dad expresses a number of concepts that seem contrary to the […]
Creating a Chart of Accounts for a Small Restaurant
Independent restaurant owners often do their own bookkeeping. Even if they hire a professional accountant at year’s end, they may save considerable money by handling the weekly tasks themselves. Setting up a chart of accounts to fit the restaurant needs generally requires customizing the default choices of any accounting program. […]
Review of Robert Kiyosaki’s Book Unfair Advantage
As a member of Rich Dad World, I downloaded the online version of this book for a limited time offer only. This book offers many important financial lessons that will make you realize the importance of being in the B and I quadrants, which I like to summarise below. The […]
Role of MIS in Business Management
Despite the vast improvements in information technology, computers (on which modern IT is based) cannot as yet take over business management. However, business information systems have transformed the effectiveness, power and efficiency of management. In an earlier article on business management software, we looked at surface aspects of how modern […]