When do you need an accountant for your business? As an owner of a startup, you will need financial advice from someone who can help you set up. Also, it depends on your knowledge and the present economic situation. Even when planning to start a business, you need to have a […]
Finance advise for non-finance entrepreneurs. Keep your business and personal finances separate. To save time and avoid hassles at tax time: Open a US dollar savings or checking account if you’re Canadian. I live in Canada, yet most of my freelance writing and blogging income is in US dollars. So, I […]
How do you account for partnerships? Partnership accounting is the same as accounting for proprietorship apart from having a different capital and drawings account for each partner. The fundamental accounting equation remains the same that is Assets= Liabilities + owners’ equity. Still, there will be a difference in the owner’s equity, […]
Step-by-step instructions to start charities. What is philanthropy? Philanthropy is an association that helps poor people, for example, offering garments to individuals in need and nourishment to hungry individuals, offering a place to sleep to the homeless. Somebody or a charity organization must care for these nuts and bolts. In some […]
Entrepreneurs work with no help. Entrepreneurs are trying to wear too many hats. If you are setting up a business, you should never attempt to do everything yourself without help, as it will take a long time to bring your business off the ground. You have to know your strengths and […]
What are typical cash flow problems in business? The common mistake that start-ups make in setting up the business does not have a sound financial plan. Most of the time, they miss out on essential expenses or underestimate the amount they need to spend. Budget & cash flow Starting a business […]