Public Accounting: Definition and Importance

Sara
Public accounting basically refers to the provision of accounting services to other firms, organizations, government agencies and individuals. It entails being a third party that analyzes the financial statements and systems of clients to establish if the financial statements that they produce are a fair representation of their financial position. Public accountants offer auditing and tax services to their clients.

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How to Understand a Profit and Loss Statement

While beginning a home business is simple, keeping it running effectively and making sure that all financial information is current can be a rather tedious job, particularly for a company owner who has no knowledge or passion for accounting. This does not have to always hold true because an entrepreneur who does a little bit of research can get the right fiscal information called for to run an effective business.

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Choosing the right small business accountant

Sara
It is important to choose the right small business accountant because accounting is the language of business. It refers to the recording, reporting and analysis of financial data for economic entities such as businesses but also including economic entities such as states and countries. Accounting practitioners are generally referred to as accountants but the discipline of accounting has a number of specialized fields.

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Accounting Software Reviews

Sara
A small business is a business like any other, so proper records should be kept to increase accountability of how the funds generated are spent. This means that the act of accounting is required. Accounting is a systematic process of recording, analyzing, summarizing and presenting the information to interested parties. These parties may include the managers, employees, government, tax authorities and others.

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Welcome to J3 Concepts in Accounting

Sara
Double entry bookkeeping is often said to have been invented by a Franciscan monk Luca Pacioli in Milan. In 1494 he wrote the 'Summa de Arithmetica, Geometria, Proportioni et Proportionalita'. He is also said to have been Leonardo Da Vinci’s math teacher. However, in 1458 Benedikt Kotruljević wrote about double entry bookkeeping in: Book on the Art of Trade.

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