Category: Accounting

Every small business should establish controls

Written by February 19, 2014

Every week reporters publish stories about companies that have lost thousands, even millions of dollars because of fraud. They recount the dreadful details of business owners who learned – too late – that a lack of basic controls left their companies vulnerable to pilferage, embezzlement, and other types of misappropriation. How do these lessons apply to small businesses? After all,...

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Emergency savings: How much is enough?

Written by February 14, 2014

We all need an emergency fund, but what’s considered “an emergency?” Any unexpected hit to your finances, including layoffs, unanticipated illnesses, and natural disasters. Car insurance premiums and regular home maintenance are (or should be) anticipated, so they’re not emergencies. The same is true of credit card bills for vacations and visits to the dentist’s office. An emergency fund is...

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Get your business off to a good start

Written by August 15, 2013

Many small start-up businesses are off-and-running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. There has been money paid out for equipment, supplies, etc., some by check and some by cash out of pocket or from sales receipts. This informal method of...

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Embezzlement: You need to know how it works and how to prevent it

Written by July 30, 2013

It has been said that if fraud were a country, it would be the fifth most productive country in the world. Whether this is true or not, fraud is responsible for crippling many businesses. Embezzlement is a huge part of the fraud industry. Because the crime is being committed by a trusted employee, it often goes undetected for long periods...

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Keep an eye on your company's cash

Written by June 21, 2013

Do you regularly monitor your company’s cash accounts? You should. Even if you leave the job to your bookkeeper or accountant, you should stay aware of where the cash is going and how the spending is approved. Along with inventory “shrinkage,” theft or improper expenditures of cash are among the chief sources of loss for small companies. Periodically, you hear...

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We are looking for a Staff Accountant

Written by April 12, 2013

We have recently posted a job opening for a staff accountant with LinkedIn. The position requires at least 1-3 years recent public accounting experience. Computer software experience required and CPA candidate of CPA preferred. Must also have current experience in tax preparation and not for profit auditing. We are one of the premier accounting firms in the South Coast Massachusetts...

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Take steps to build a better business

Written by July 20, 2012

Business owners focus a lot of attention on building better products. When their products are hot, the company does well, despite other shortcomings. Certainly, new and better products are essential, but focusing on building a better business — one that readily adapts to change and quickly responds to crisis may be even more important. How can you build a better...

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Buyer Beware when buying coins!

Written by July 19, 2012

Buying rare and precious coins can be an exciting hobby and, for some, a lucrative investment. Unfortunately, it’s also a business that’s rife with potential for con artists. As always, it’s wise to proceed with caution. Following a few simple guidelines can offer protection from unethical sellers. * Research, research, research. Know what you’re buying. Carefully study the characteristics of...

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