1-800Accountant Blog

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Small Business Accounting: Cash vs. Accrual

When it comes to running a small business, understanding the advantages and disadvantages of cash vs. accrual budgeting can be extraordinarily helpful. Both methods have their strengths and weaknesses; It comes down to what works best within the context of a particular organization. Sometimes organizations don’t have much choice in deciding on the accounting method […]

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How to Manage Your Bank Accounts When Self-Employed

For many people, self-employment is the ultimate dream. Working for yourself provides many benefits, including flexible schedules and more control over your creative goals. Not having to deal with office politics is also a nice bonus. However, there are many aspects of running a business that requires a great deal of time and attention, including […]

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What Is the Main Goal of GAAP?

Generally Accepted Accounting Principles (GAAP) measure the financial health of public companies. There are standards within GAAP that provide other accountants with information. The main goal of GAAP is to ensure that financial reporting is transparent and consistent across organizations.  What Is GAAP? GAAP refers to a set of accounting principles, procedures, and standards that […]

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Top Accounting Trends For 2022

It’s impossible to predict the future with complete accuracy. However, it’s still important to stay aware of rising business and accounting trends; doing so can put your business on the path to achieving its goals.  2022 is well underway, and today’s business environment is rapidly evolving with new technologies, risks, and customer demands. While pandemic-related […]

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What Influencers Need to Know About Their Accounting

The influencer industry was valued at a whopping 13.8 billion dollars in 2021, and it will only continue to grow as more brands turn to influencer marketing. Influencers, even ones with smaller followings, can make a ton of cash via YouTube, Instagram, TikTok, or blogging. It’s clear that, regardless of the medium, influencer accounting is […]

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5 Budgeting Tips for New Small Business Owners

Every business owner wants and needs to make money, but no one wants to have to think about money and cash flow every day and all the time.  You need money to keep building and growing your business, and success means you continue to earn back your investment and more in profit. Ideally, however, you […]

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7 Things to Do at Your Mid-Year Tax Check-Up

Tax season can be stressful. When you finally submit your returns in April, you may want nothing more than to set it all aside and stop thinking about taxes until the following year comes around.  Unfortunately, forgetting about your tax obligations sets you up for more panic and disaster the following April. If you take […]

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19 Tips for Managing Your Small Business Finances

At any point in the management of your small business, your small business’s finances will be central to its success. As your business grows and develops, it can become more challenging to pinpoint where to focus your time to ensure your finances are running smoothly. Managing your small business’s finances may be stressful, but there […]

generally-accepted-accounting-principles

GAAP: What are Generally Accepted Accounting Principles?

Accounting is a massive and diverse field, and accounting services can include everything from bookkeeping and tax preparation to auditing and business plan development. There is no single path or training required to become an accountant, either.   However, there are some grounding rules and principles that all accountants rely on in all that chaos. And […]

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How an Accountant Can Help Small Businesses Succeed

Being a small business owner is an immense and multifaceted job. Running a business involves so many different important and interconnected variables, and you’re responsible for all of them. Accountants can lighten your load by taking responsibility for a few of those variables.  But what can an accountant do to support you and your business? […]