why is maintaining a good accounting the key to success of small business?
144835
Small busiensses tend to run out of cash fast.  So you really want to keep track of your cash flow.  Also look at if you have too much A/R.  Will you be able to pay your A/P.  How long does it take for your inventory to turn.  If you run out of cash, where can you get credit.  Good accounting can help you keep an eye on these issues to mange your business.
672305
Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. \n\nSome things you need to consider:\n- "How can I support my family while I build up by business?" \n- "What are my abilities?" \n- "Is there a market for the product or service I have chosen?" \n- "How long will it take this business to reach the financial goal I have?" \n\n\nDan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best business. He suggests these 10 steps:\n\n1. List 5 things you do best\n2. List how others would benefit from what you do best\n3. Find out how to give people what they want\n4. Learn the value of your services to others\n5. Find out who else offers similar services\n6. Learn from the successes of others\n7. Learn from the failures of others\n8. Plan your own success\n9. Make low cost mistakes\n10. Enjoy what you do and how you do it\n\nYou may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:\n\n1. Provide a benefit.\n2. Determine the fit with your market.\n3. Right timing is everything\n4. Be ready to support your business\n5. Develop a blueprint for success\n6. Market, market, market\n\nTo give you ideas on what exactly do you need to start your own business, here are ten things you need to know before launching your own business  “10 Things You Need to Know When Starting Your Own Home Business” http://www.powerhomebiz.com/052006/startingbiz.htm .\n\nAs for things you need to watch out for, read the following articles:\n8 Deadly Mistakes of Small Businesses  http://www.powerhomebiz.com/vol90/mistakes.htm\nSurviving the First 1,000 Days of Your New Business http://www.powerhomebiz.com/vol3/survival.htm\n\nI recommend that you read the following books:\n\n- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs \n- Starting From Scratch: How To Start A Business When You Don't Have Money \n- If You're Clueless About Starting Your Own Business and Want to Know More \n- On the Move : How to Succeed and Survive As an Entrepreneur \n- How to Make 1000 Mistakes in Business and Still Succeed
439834
If you can secure it to a point where they wont lose their money in the event your business should lose again. Exit strategies and security ,along with nice above average returns. Although this is just based on what you are stating here. If you want to discuss options further email me at bizconsultant2000@yahoo.com
233923
Part of the reason for the attraction for provision accounting is that it helps income smoothing, ie in good years, you can provide for a rainy day so to speak....\n\nThe new accounting standards - I'm taking it that you are talking about IFRS is more balance sheet oriented, so the provision has to justify itself as either as an asset or liability - and if it fails that gets caught into the income statement.\n\nFrom an analysts perspective, provisions need to be stripped off to understand the inherent core profitability of the firm. So in a sense I like the direction the new accounting standards are moving.\n\nYou can read more about income smoothing in a good forensic accounting book or the book titled "Financial Shenanigans"
1101090
Most businesses have similiar issues no matter their product.\n\nCheck out the outline on the small business administration website.  It will take some time to do but I strongly advise you do it for several reasons.  It will make you consider all the details of your business and you can provide it to potential investors who will gauge your likelihood of success (and security of their investment).\n\nGood luck.
404105
Success in business is tough, that's for sure.  Persistence counts, definately, but so does your ability to provide something to others (product or service) that is better than anyone else's out there.  Going above and beyond for others is one of the best ways to stay alive in business.  Always try to make others look good, then they will always want to do business with you.
617241
The role of an Accountant may include aspects of the following:-\n\n- Tracking company expenses\n- Writing, error checking, analysing financial documents\n- Identifying problems and inefficiencies with the way the business is run\n- Ensure the correct tax is paid\n\nDepending on the job, the accountant may also perform audits of any client companies.\n\nA management accountant works at the cross-company level, looking at budgets, costs, assets, yearly targets, tracking year to date against and highlighting issues and areas that can benefit from streamlining efficiencies.\n\nYou will need a good head for figures and numbers, enjoy analysis, and will need a BA degree.\n\nJob prospects are good for graduates - lots of large firms hire many trainees every year. Training salary is low but once qualified the rewards can be very good.
87029
By nature, accounting is based on historical information.  I'd say the biggest problem with relying on any accounting information is that it gives you only what has happened, but doesn't take into account any non-quantifiable or forward looking factors in your business environment.
153330
i don't know how to sign up but the good thing about having it is that if your business is good it will get  good ratings sometimes people look at the people in the better business bureau for good company. and the bbb will tell the customer if your company has any bad thing on your record so it is a real good thing to have if your business is all in order.
455310
legal system....hire a good business lawyer, that specailizes in accounting.
325258
Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. \n\nSome things you need to consider:\n- "How can I support my family while I build up by business?" \n- "What are my abilities?" \n- "Is there a market for the product or service I have chosen?" \n- "How long will it take this business to reach the financial goal I have?" \n\nYou may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:\n\n1. Provide a benefit.\n2. Determine the fit with your market.\n3. Right timing is everything\n4. Be ready to support your business\n5. Develop a blueprint for success (your business plan)\n6. Market, market, market\n\nI recommend that you read the following books:\n\n- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs \n- Starting From Scratch: How To Start A Business When You Don't Have Money \n- If You're Clueless About Starting Your Own Business and Want to Know More \n- On the Move : How to Succeed and Survive As an Entrepreneur \n- How to Make 1000 Mistakes in Business and Still Succeed
867224
It means you hire an accountant. You have some advantages that most people overlook.
117951
The bottom line is to increase your business profit.
527499
Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. \n\nSome things you need to consider:\n- "How can I support my family while I build up by business?" \n- "What are my abilities?" \n- "Is there a market for the product or service I have chosen?" \n- "How long will it take this business to reach the financial goal I have?" \n\nYou may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:\n\n1. Provide a benefit.\n2. Determine the fit with your market.\n3. Right timing is everything\n4. Be ready to support your business\n5. Develop a blueprint for success\n6. Market, market, market\n\nI recommend that you read the following books:\n\n- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs \n- Starting From Scratch: How To Start A Business When You Don't Have Money \n- If You're Clueless About Starting Your Own Business and Want to Know More \n- On the Move : How to Succeed and Survive As an Entrepreneur \n- How to Make 1000 Mistakes in Business and Still Succeed \n\nAs for grants, it is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.\n\nNonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.\n\nEven if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.\n\nEven SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html \n\n"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."\n\nHere is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.\nhttp://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show\n\nMost of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program \n\nGrants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs \n\nFor private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "stud
332868
Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. \n\nSome things you need to consider:\n\n- "How can I support my family while I build up by business?" \n- "What are my abilities?" \n- "Is there a market for the product or service I have chosen?" \n- "Will I lose any opportunities if I start it now or later?"\n- "How long will it take this business to reach the financial goal I have?" \n\nAlways ask the worst case scenario: if the business fails, what will happen to me; to my family? If you think you have some way of paying your loan plus resources to support your family if the business fails, then go for it.\n\nYou may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:\n\n1. Provide a benefit.\n2. Determine the fit with your market.\n3. Right timing is everything\n4. Be ready to support your business\n5. Develop a blueprint for success\n6. Market, market, market\n\nI recommend that you read the following books:\n\n- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs \n- Starting From Scratch: How To Start A Business When You Don't Have Money \n- If You're Clueless About Starting Your Own Business and Want to Know More \n- On the Move : How to Succeed and Survive As an Entrepreneur \n- How to Make 1000 Mistakes in Business and Still Succeed
930378
Firstly, so that the business owner has an idea of what to expect so he can judge whether the business stands a chance of success and so that he can monitor events once it starts trading and compare them to what was expected in the cash flow.\n\nAnd secondly, so that lenders and providers of capital can be convinced that the business represents a good investment
285165
70% of most small business fail in the first year, however if you do make it, most business dont get out of the red until after the first 5 years.