Brian Clarke of H&J CPAs discusses the importance of budgeting for small business owners. One of the most common things that small business owners do not do on a regular basis that they should be doing is budgeting. While this sounds very basic, consistently budgeting and, more importantly, utilizing that budget is extremely important. Very…
Tim Valentino of H&J CPAs explores fair market value and provides a better understanding of what it is and how it is used. Many people use “audit” as a general term, but an audit is a very specific thing. An audit is the rendering of an opinion on the financial statement as to its fair…
Brian Clarke of H&J CPAs explores profit and loss and explains why it is important to regularly review it. Each month, company owners are presented with a profit and loss that has been generated by their accounting software. Many times, this report is simply filed away without much thought, but owners should pay close attention…
Tim Valentino of H&J CPAs explores these types of engagements and provides a better understanding of what is involved. There are three levels of financial statement engagements: audited, reviewed and compiled. First, the audited statement provides an opinion as to the fair presentation of the financial statements. In this process at H&J CPAs, we verify…
Keeping a close eye on your company’s finances may seem tedious, but it is a critical task for the success of a growing business. Consistent financial management allows you to make more informed spending decisions and better the future of your company. Follow these five tips to keep your finances in top order: Separate your…
Many business owners become so focused on developing income that they underestimate the importance of sufficient security measures, and the cost of exposing your information to cyber attacks. Digital criminals are betting on your company to have more worthwhile data than individuals, but with less advanced protection than larger corporations. From 2011 to 2012, the…
A smooth tax season for small businesses can only be achieved with the proper advanced preparations. By maintaining routine techniques throughout the year and setting up your finances at year-end, you can save yourself from excessive time, errors, and hassle come April. Organize your 2015 paperwork and arrange for a painless 2016 by following these…
Financial projections are a crucial aspect of the core small business plan, especially for newer companies. By considering factors like production costs, market prices, and demand for your services, you can achieve a clear understanding of your financial situation and discover your full profit potential. Benefits of Financial Projections Perceive an unbiased view of your…