Accounting Misconceptions That Are Harmful to Small Businesses

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

When starting or running a small business, it is easy to focus solely on how much money you are making or how many products are moving out the door. But the basic financials of your company--tax rates, financial regulations and the cost of new growth opportunities--can be as important as your short-term profits to the success of your small business. That's why knowledge of accounting practices and ideas is important and misconceptions about accounting and accounting professionals can be disastrous.

Having an Accountant Fixes Your Financial Problems

While having a professional accountant do your small-business accounting is probably a good idea, it is not a magic bullet. Bad accountants can do more damage to your business than doing your business accounting on your own. There are multiple resources available to determine which accountant is right for you. Talking to other businesses in your industry, or other local businesses, can also guide you on whom to trust with your money.

Do you need more detail on this subject? Head on over to the full article HERE for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0411) 787-435.

Thanks,

Patrick