Micro Business

Accrual Accounting vs Cash-Basis Accounting

Written By: - Dec• 18•14

accManagers want to earn a profit. Investors search for companies whose stock prices will increase. Banks seek borrowers who’ll pay their debts. Accounting provides the information these people use for decision making. Accounting can be based on either the

Accrual accounting records the impact of a business transaction as it occurs. When the business performs a service, makes a sale, or incurs an expense, the accountant records the transaction even if it receives or pays no cash.

Cash-basis accounting records only cash transactions cash receipts and cash payments. Cash receipts are treated as revenues, and cash payments are handled as expenses. Generally accepted accounting principles (GAAP) require accrual accounting. The business records revenues as the revenues are earned and expenses as the expenses are incurred not necessarily when cash changes hands. Consider a sale on account. Which transaction increases your wealth making an $800 sale on account, or collecting the $800 cash? Making the sale increases your wealth by $300 because you gave up inventory that cost you $500 and you got a receivable worth $800. Collecting cash later merely swaps your $800 receivable for $800 cash no gain on this transaction. Making the sale not collecting the cash increases your wealth.

The basic defect of cash-basis accounting is that the cash basis ignores important information. That makes the financial statements incomplete. The result People using the statements make decisions based on incomplete information, which can lead to mistakes. Suppose your business makes a sale on account. The cash basis does not record the sale because you received no cash. You may be thinking, let’s wait until we collect cash and then record the sale. After all, we pay the bills with cash, so ignore transactions that don’t affect cash. What’s wrong with this argument? There are two defects one on the balance sheet and the other on the income statement.

Balance Sheet Defect If we fail to record a sale on account, the balance sheet reports no account receivable. Why is this so bad? The receivable represents a claim to receive cash in the future, which is a real asset, and it should appear on the balance sheet. Without this information, assets are understated on the balance sheet. Income Statement Defect a sale on account provides revenue that increases the company’s wealth. Ignoring the sale understates revenue and net income on the income statement. The take-away lessons from this discussion are as follows:

Companies that use the cash basis of accounting do not follow GAAP. Their financial statements omit important information. All but the smallest businesses use the accrual basis of accounting.

Accrual accounting is more complex and, in terms of the Conceptual Foundations of Accounting, is a more faithful representation of economic reality than Cash-basis accounting.

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The Essential Laws of Companies Explained

Written By: bigproject - Jul• 26•16

Levelling Up Your Business Brand with Digital Marketing As you have already surmised, digital marketing is basically simply marketing your business through online methods. In accomplishing this particular task, there are many different methods that can be used. Given the fact that most customers find it convenience, this has become one of the most popular means for marketing. A company that specializes in digital marketing would be able to help your business take advantage of this to take your business brand to greater heights. When it comes to things that would prove to be helpful in things like these, you will find them in this article. The search engine optimization or otherwise simply known as SEO is one of the things that will be able to help your business brand gain more attention online. This will make it easier for people to look for you and this will allow you to have a lot more potential customers. The elements of digital marketing doesn’t end here because you will find other methods of doing it. You will also find that social media networking platforms are among the biggest things you can take advantage of when it comes to the world of digital marketing because it allows you to be able to reach out to a great deal of target market. With the help of the right marketing professionals, you would be able to make this more efficient.
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Among the most important things nowadays are websites for business because it helps you establish an online presence. This is how you will be presenting your business which makes web design also an important element. This is one of those where the attention you need for your business will be getting from. Getting the help of an expert in this field will definitely be something that will prove to be a beneficial course of action, so make sure you take it into account. Make sure that you get this thing right from the start because whether your business will be made or not is going to be something that will be highly dependent on this.
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In addition to those that have already been mentioned earlier, there are also other important matters you need to take into consideration and that is your branding. It’s very important that you also take the proper steps when you come up with your logo. The reason for this is because your brand will be what will separate you from your competition. The customers will also remember your logo and recognize your business for it. Among the digital marketing tools you should also take into your arsenal is the email marketing. Email marketing is actually considered to be the longest existing digital marketing method that is still as effective as ever, so make sure that you also learn how to utilize it in order to take advantage of its benefits.

Getting Down To Basics with Companies

Written By: bigproject - Jul• 25•16

How To Properly Run A Business Sometimes, even though the company is running smoothly, there is still room for improvements. You may have noticed that whenever the projects are delayed or when employees become less productive, the business is always suffering in spite of having all the vital elements for success. With regards to this matter there are countless of small and even midscale businesses that began leveraging the power of technology that is available to improve the efficiency of their business as well as ROI of employees. To put it simply, they automate various processes as possible and in an effort for this to be a reality, they avail the different software programs. In fact, there are many business process automation service providers in all parts of the world, that is using the best tools for same. So, let’s take a glimpse of software solutions by which you could attain business automation for your firm.
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CRM software solutions – customer relationship management software has now become an indispensable tool for all businesses no matter what their domain type and size is. In most instances, CRM systems are taking care of administrative tasks, timely follow up with customers, lead generation and so on. With this, it is giving ample amount of time to concentrate on core business areas of the company.
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Truth is, there are numerous entrepreneurs who prefer to integrate CRM in line with their marketing automation software in an effort to get better and desirable results. In such case, there is seamless communication between sales and marketing team leading to improved ROI and successful campaigns. In wake of popularity of cloud computing, cloud CRM software programs become more and more common. ERP software solutions – ERP stands for Enterprise Resource Planning and it’s proven to be really beneficial in automating the entire processes of business, most especially in different manufacturing companies. Apart from that, there are web based and cloud based ERP systems available in the market that perfectly works to cater the specific needs of the business for the sake of automation. And by integrating ERP software solution, it is actually possible to complete various things from automation of accounting, invoicing inventory management, supply chain process, project management, order processing, vendor management. Marketing automation software solution – this does automation of various repetitive tasks in relation to marketing similar to campaign creation, market segmentation, lead management, email communication, monitoring of campaign reports and a lot more. There are substantial amount of free and paid marketing automation software available in the market so if you would like to get a feel of a new system, you can go always for the free version and just upgrade to paid ones later on.

The Best Advice on Classes I’ve found

Written By: bigproject - Jul• 23•16

Finding High-Quality Independent Elementary Schools in Dallas In all great reputable independent elementary schools, there is the tendency to draw the focus to the school mission together with provision of a favorable environment for children. A commendable independent elementary school in Dallas have a lot of freedoms which include having their own missions that is composed of the approaches to use while teaching and the procedures on how to carry out the teaching. Due to a couple of independent elementary schools in Dallas, one is allowed to get the best school for the child. Teachers are more so, given a chance to create tactics for learning that are perfect for a certain child irrespective of following the Dallas state laws on curriculum ,administration ,testing and many areas. In addition, a reliable independent elementary school in Dallas gives freedom to choose the co-curricular and academic activities and choose the students they think have the capabilities for the same activities. An the independent elementary school with a good image in Dallas has academic standards that are high because they are not only concerned about the intellect of the student but also personal growth and encourage practicing in the critical thinking. In addition, a valuable independent elementary school have smaller classes and hence there is more focus on the student because of the low ratio of the teacher to the student and the percentage of the students enrolled in advanced courses is high in one of the best independent elementary school in Dallas because there is more contact between the teacher and the students which encourage mentor-ship and improved understanding of what is being taught. An independent elementary school in Dallas with good achievements provides a teaching with quality because the teachers teach in subjects that they are very qualified in and also those subjects that they have passion in.A good performing independent elementary school in Dallas provides a teaching with quality because the teachers teach in subjects that they are very qualified in and also those subjects that they have passion in. Presence of teachers who well-trained enables knowing the students fully as they notice what they are mostly interested in, their motivation and inclinations in understanding. It is unbelievably true that a caring independent elementary school in Dallas does not only make the student be more engrossed in classroom but also provide education that is holistic ensuring that the student engages in activities far from classroom which includes participation in sports and leadership. Though the best progressive elementary schools in Dallas have the same things with other independent elementary schools, they have a common and main goal that is, to provide education that is holistic.
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In conclusion, a reliable independent elementary school in Dallas ensures that there is an active relationship among the teachers, parents, and students and this is achieved by making sure that the parent plays a bigger role in educating the child which finally unifies all to a common goal. A good performing independent elementary school in Dallas does not leave out a lamplighter school that gives a supportive and conducive environment to develop interest, confidence and be enthusiastic in the course of gaining academic achievements.Why No One Talks About Schools Anymore

4 Lessons Learned: Systems

Written By: bigproject - Jul• 21•16

How to Choose the Right Fire Protection and Security Company Selecting a professional security company is a critical step for any homeowner or business owner who wants to invest in the best fire protection and security systems. Experienced security providers offer solutions that protect your valuable property and assets against any potential fires or crimes like burglary and the damages that may follow. Considering the many security options and fire alarm systems available today, how do you select a reliable company to work with? Consider these few tips when hiring the best company. Look for the most established business and home security companies near you and create a small list of companies you could work with. You can talk to your friends, family members or other business owners who have invested in reliable fire and security systems. Get to know what type of experience they had with the companies they hired and whether they would be willing to recommend them to you. It’s also crucial to take some time looking at different areas of the company such as the level of training they have, certifications attained, licenses, service history and professional accreditation and associations. Any genuine company will show you related documents without question. Check the type of security and fire protection solutions they offer. It’s important to note that most security companies often provide their own unique products. It’s best to work with a provider that specializes in your fire protection or security system needs. In case you operate in a high-risk business industry, you will have to hire a company that provides top-notch fire and security solutions for your business. For homeowners who are looking for integrated fire alarm and security solutions, selecting a company that offers innovative solutions that can be monitored at any time and have different product options is the best thing to do.
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Their level of commitment to protecting you and your home or business is critical. Some companies will spend a lot of money on promoting their products but offer no long term dependability. You need to choose a company that has been in business for many years and one that invests time and resources in providing quality and reliable fire alarm and burglar protection systems for your needs. Focus more on security experts who are willing to discuss your unique home or business requirements and develop personalized fire and security solutions that best suit you.
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Keep in mind the total cost charged by the company for the entire security or fire protection system including installations and maintenance. Get estimates from different companies also read their contracts carefully. Ask any questions that you have about their services. Browse through various customer reviews, comments and other feedback on independent sites to evaluate their reliability. Companies with numerous positive reviews are more likely to offer you effective fire protection and security solutions that you need. With the right choice, you will feel more relaxed knowing that your home or business is well protected.

Why People Think Sales Are A Good Idea

Written By: bigproject - Jul• 19•16

Locating the Most Strategic Business Storytelling Workshops It is undeniably true to conclude that every business establishment values its ability to have and maintain great relations with its employees, customers as well as its leadership, this is because these relations will go a long way towards supporting the growth of the business, as their royalty motivates them to do their best for the success of the business, whereas they tackle all the challenges in a harmoniously. In regards to the above statement, it is notable that a shrewd business has to maintain regular conversations with its employees, leadership and also with its clients as these engagements will enlighten them on the best course of action that will be for the benefit of their business, whereas having a friendly conversation strategy with these stake holders will open a lot of doors that were presumably locked. On a brighter note for all shrewd business establishments with a great value for industrious conversations with the relevant stakeholders, there are talented business storytellers, who have been sharing their skills with their clients in a manner such that they take these clients on an emotional path that assists in conveying the most memorable message which is critical to the success of the business. These efficient business storytellers will do their homework very well such that some days to their workshop, they will visit the business where they will understand the preferred direction of the management on the performance of their business, whereas they use this information to come up with captivating stories that resonate with the target audience in a manner that they inspire them to action. It is indeed refreshing to point out to the sensible fact that the best business storytellers understand that, as much as telling stories to people is powerful at resonating with them, it is even much more powerful to listen to people especially because when people talk, they share their love, dislikes as well as what they desire, whereas all this information is key to a business as it could then locate the best spot that matches the business needs to those of their stakeholders. It is absolutely true to emphasize that at such a time that a witty business enlists with the most dependable business storyteller, they open doors to untold possibilities as their employees are inspired to embrace the businesses mission and vision in a manner that has everyone focused in the right direction, which will without a doubt fuel accelerated growth and ability to compete squarely.
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Every business that desires harmony in the execution of its operations should make a point of getting hooked with the services of the most dependable business storytellers, who will tell the most relevant and creative stories that resonate with the audience to the point whereby they feel motivated to take action.5 Takeaways That I Learned About Techniques

The Art of Mastering Businesses

Written By: bigproject - Jul• 15•16

Understanding the Most Important Elements in a Great Security System If you talk to people about their greatest fears, becoming the victim of crime is near the top of the list. This is especially true in areas where crime has been on the rise. Most property owners are very concerned about how they can go about protecting all of their possessions from theft or vandalism. It takes a little bit of thinking, though, to come up with a plan that can ensure your safety. If you’re in the market for a range of different security systems for your home and business, you’ll find plenty of options on the market today. The goal of any security system will be to help you figure out what the greatest threats are to your safety and neutralize them. If you truly want to do whatever you can to protect all of your personal property, then you’ll need to spend some time developing a great security system. You can get a much better sense of what your security system should involve by taking a close look at the following article. You’re going to find that being aware of what’s happening on your property is the key to being safe. Your first point of action, then, will be to find the types of security camera systems that will offer you complete visual coverage over your whole business. These security cameras are designed to provide a constant visual feed of every aspect of the property, which means you should always be able to respond immediately to any threats that might be coming your way. For people who are trying to save some money, you’ll find that one of the best things you can do is purchase some fake cameras to allow you to more easily deter criminals at a low cost.
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You’ll also find that adding a series of alarms to your property can be a great way to stay safe. If you can get a driveway alarm installed, you should be able to get an alert whenever anyone is trying to enter your property. This can be very helpful if you live on a large piece of property, as you won’t always have a visual cue that someone is on your driveway. If you spend a lot of time away from home, you’ll likely appreciate getting clued into whenever someone is attempting to break into your home.
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If you’re serious about keeping your home and business safe, it’s crucial to have these types of systems in place. It will become a lot easier for you to pick out the kind of security plan that works best for you once you have a strong understanding of the kinds of needs you’re facing.

Getting Creative With Tips Advice

Written By: bigproject - Jul• 13•16

Benefits Of Having Fresh On Hold Messages There are many reasons why people would update their on hold messages. One main reason is how often your customer can listen to your on hold message. Updating on hold messages frequently is recommended for businesses which get a lot of calls every day. Here are several indicators when to change your on hold message. Is the on hold message containing an incorrect information? You need to correct the information if there are any incorrect info. You do not want your customers visiting your old website or going to the wrong location. Other information which need to be updated are email address and phone extensions. Change these info quickly.
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Are you releasing new products or services? You can promote these through your on hold message. You will get a couple of minutes of advertising time. Put an interesting and enticing message.
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What about new awards or accreditation? These information increases your credibility and branding. You can outdo your competition. Is your message overused? This is definitely an issue. It will annoy or frustrate your customers. However, it is common for companies to stick with one message. They are making a grave mistake. This is their precious chance to market their products and services. Is the message keep talking about you or your product? A lot of companies are highlighting themselves. When it comes to marketing, prioritize on the benefits the customers will gain. Is there a new staff in your company? You can promote your new doctor, lawyer or dentist of your team and introduce him to your customers. These are just samples of the companies which require staff to contact clients personally. On hold messaging allows you to promote them and expose to your clients. Are you hosting a new marketing campaign or giving discounts? It could be your new online website. The customers will never know about these even if they keep buying your products. It could affect the results of your marketing project. Make them aware of your latest endeavors. Is your company planning to host an event? One customer can let your event known to hundreds of people. A single event can boost your business and make you stand out in the market. It is cost efficient by relying through on hold messaging in gaining competitive advantage. Consider updating your on hold message if you find yourself in any of the scenarios. With just regular updates on the information of your on hold message, you keep your customers interested in your business. Among the things you can change which can be effective are the voice, music and information. Take advantage of this marketing strategy.

Finding Parallels Between Cameras and Life

Written By: bigproject - Jul• 09•16

CCTV Security Camera Installation – Why Your Business Needs Them Securing your business is always a necessity. Remember that it wasn’t easy for you to be able to get your business established. In protecting your investment, a CCTV security system would be able to help a lot. Monitoring every activity in the area would be something that can be possible. Your camera system could even provide valuable pieces of evidence that can solve a case should it happen around your place of business. This can also deter thieves from coming to try and steal from your business. Your security guards will also be able to more effectively perform their duties with the help of CCTV security cameras. With these, they will be able to respond to situations faster and prevent bad things from getting worse.
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One of the benefits of having a CCTV security camera in your business is to help your employees perform better. Some employees work harder than others and they should be rewarded for it, and this is something you will learn when you install CCTV security cameras. Having a CCTV security camera in your place of business will allow you to learn many valuable things and be able to take action for them such as reward those hard working people of yours and replace the ones that barely do any work. With this, your employees will have more motivation knowing that there would be reward for their hard work. This can also something that will help you get some business issues resolved.
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Sometimes, it cannot be avoided for your employees to develop conflicts within their departments. Having a CCTV security system would allow you to learn the roots of the problem and help you resolve them easier. Your people would be a lot more productive when your employees are getting along perfectly fine. When it comes to your CCTV security camera installation, finding a professional to help you with it would be the best thing to do. The necessity for commitment is sometimes necessary for business. The last thing you want is for the safety of your business and your employees to be jeopardized. With all the benefits that you will be able to get from CCTV security camera installation, you should take advantage of them for your business. When you have a CCTV security camera system installed in your business, worrying about things will be something you will be doing less. The internet will be able to provide you with a lot of great information if you are looking to learn more about this.

The Essential Laws of Computers Explained

Written By: bigproject - Jul• 03•16

Benefits Of Switching To Microsoft Office 365 Are you ready to make expansions for your business but is not ready to pay for additional servers? Are you compelled in turning away some projects just because IT can’t keep up with the needs of your business? Well, if yes is the answer you have to these questions, you’ll be glad to know that there is a solution in form of Microsoft Office 365. This can help you to free up IT and stay ahead of competition so you will be able to focus more on being faster and better than your rivals. Office 365 whether you believe it or not is a simple to use tool but provides you a virtual access to anywhere from your documents, people and emails so you can quickly respond to customers. Here are the major benefits that you will experience when making the switch although Office 365 is offering more benefits. Improved security – Microsoft Office 365 is created to meet the business’ security requirements, which is offering robust security features that are giving more control to customers. Below is a quick overview of different security features in 365.
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Number 1. 365 allows customer to avoid issues similar to document editing, sharing and manage content expiration because it works with Information Rights Management.
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Number 2. It has ITAR or International Traffic in Arms Regulations Support that provides the highest level of data isolation of federal agencies. Number 3. Microsoft Office is offering a robust password policy similar to length and complexity combined with an account lockout. Reduced costs – at present, all technology infrastructures are pretty expensive to maintain premise. The trend moves slowly towards the monthly rental charges for these types of services at a lower price than buying and maintaining software and hardware. In just few years time, the server that you have to buy will be out of warranty. Then, you are going to face issues related to new application software and operating systems as well as compatibility that also includes, software updates, backups and hardware failures along the way. As you make the switch to office 365, it isn’t just going to help you escape the costs in relation to software and hardware but it will help you as well to evade disaster recovery and along with the backend upgrades. It has been observed that moving to cloud lets enterprise to see an average of 40 percent savings for a period of 5 years according to experts. Supporting benefits – you have to take note that migrating to office 365 is also providing users automatically with state of the art features as well as versions of collaboration tools and cloud software.

What Has Changed Recently With Chemicals?

Written By: bigproject - Jun• 30•16

All About Outdoor Chemical Storage Buildings

Safety storage of any wastes and hazardous materials is a necessity for various companies. Thus, outdoor chemical storage buildings are providing effective solution in fulfilling this need. These storage buildings are also defined as prefabricated structure that is mainly manufactured at the site other than the structure’s final location and is transported in a ready to assemble package or perhaps, completely assembled to the final location.

These buildings also provide economical means of storage and secondary containment since they are able to deduct expense of constructing a permanent structure. Furthermore, it is known to provide a lot of benefits similar to allowing buildings to be relocated in case the need arise, portability and so forth.

When you are in the process of choosing an outdoor chemical storage buildings, your decision will depend mostly on the materials that have to be stored, the volume of materials that’ll be stored, location of the building, how the building will be put into used and the design requirements.

You are going to need a building that suits the NFPA code 30 or equivalent local code in the event that the materials to be stored are either combustible or flammable. After that, check with the AHJ or Authority Having Jurisdiction to determine which code is enforced locally.

The class of flammable combustible material refers to NFPA code 30 can dictate also as what kind of building construction is necessary. Classes 1, 2 or 3 combustible and flammable liquid need either a fire rated building or non combustible building. The latter are built of non combustible materials similar to steel whereas the fire rated building are made out of non combustible materials and has fire resistant insulation in its walls. What’s more, the fire rated buildings are divided to categories that are based on fire resistance walls, openings and roof.

The design of building will be affected by whether you will dispense from the containers stored in buildings or not. Explosion relief panels are also required for buildings that store and dispense class IA liquids and those that are dispensing class IB liquids.

The building’s interior must be able to accommodate the number of required containers in single layer and have enough sump capacity in order to comply with Environmental Protection Code Secondary Containment Requirements. As for the sump pump containment, it has to be big enough to hold 100 percent of volume of the largest container stored inside the building or at least, 10 percent of overall volume of all the containers stored within the building or whichever is larger to meet the regulation.

Source: http://www.thesmashable.com/is-your-business-thriving-five-common-mistakes-new-business-owners-make/