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As an entrepreneur, who are thinking of going into business, or who is already conducting business, you have to start learning about the basic concepts of Accounting because they are the concepts that are used in reporting your business activities to the government come tax time. It is time you must know about one of the most fundamental concepts in accounting.

The Accounting Equation

The Accounting EquationAs an entrepreneur, who are thinking of going into business, or who is already conducting business, you have to start learning about the basic concepts of Accounting because they are the concepts that are used in reporting your business activities to the government come tax time. It is time you must know about one of the most fundamental concepts in accounting. Accountants process data into documents called financial statements. It is the accounting equation that is the basis for the entire accounting system. So what is this magical equation? The Accounting Equation is: ASSETS = LIABILITIES + OWNERS' EQUITY. In crude definition, ASSETS are economic resources of the business that are expected to bring benefits for the business in the future. LIABILITIES are economic resources borrowed by the business from another person or an organization. OWNERS' EQUITY is the economic resources that was contributed by the owners of the business to the business. One way of thinking of this equation is that the left side is what the business has including its money, equipment, building, land, furniture, etc... The right side indicates where these assets had come from. Were they borrowed from parties outside the business, or were they contributed by the people who own the business. The other version of this equation, that you might bump into is the: ASSETS - LIABILITIES = OWNERS' EQUITY. In other words, if the business's assets pay off all its liabilities, you are left with a figure that indicates the economic resources that belongs to the business's owner. It is pretty much the same thing, a concept of transposition in algebra. If you take a look at a business's BALANCE SHEET - or what is now modernly called as A STATEMENT OF FINANCIAL POSITION - you'll notice that all the items in there are arranged following this accounting equation in either one of its versions. Of course in a BALANCE SHEET, it is written vertically, instead of horizontally as it is in the equation. You'll see the items arranged somewhat as: ASSETS XXX LIABILITIES YYY OWNERS EQUITY ZZZ Where, XXX = YYY + ZZZ. So, next time you see a balance sheet aka statement of financial position, take the time to recognize this logic. ______________This article was written for OrangesAndLime.com, to help creative individuals artists, musicians, designers, illustrators and entertainers build their own freelance businesses. Please note that this article serves as a guideline only. You should still seek professional advice regarding the matter because laws and practices change over time and they differ from country to country.

Reliable and cost-effective Payroll administration services for small and large businesses

Reliable and cost-effective Payroll administration services for small and large businesses

Payroll means a sequence of accounting transactions like working with the salary process of employees, holding money of employees for payment of payroll taxes, insurance premiums, etc. Payroll administration job includes receipt and analysis of payroll data. They do the actual work of tallying hours and creating the paychecks for all the employees of a client.

Holding years of experience in payroll administration services, our Accounting Services provides reliable and cost effective services for any small or large businesses. Moreover our accounting service provides payroll software that enables you to transmit and receive your payroll data securely, easily and efficiently through the internet. You can view a pre-check register to verify that the payroll is perfect at every time. Our payroll solutions offer you more control, and at the same time provides flexibility in how you manage all of your payroll-related functions.

The Major "Payroll administration" services we provide for any business include:



Key Benefits while availing our payroll services are as follows :

Small Business Consulting: Overcoming Unrealistic Expectations

Small Business Consulting: Overcoming Unrealistic Expectations

If youre new to small business consulting, you may think there is no such thing as a prospect or client being too enthusiastic about jumping headfirst into a major IT project. Enthusiasm is a good thing when it comes to signing your firms "small business consulting" contract, right? Well, not always. Manage Clients OptimismAlthough hype isnt exactly a sales obstacle, you need to manage client expectations regarding "unjustified" optimism at your earliest opportunity. During small business consulting projects, there is often a need to combat hype with vertical industry software solutions. Keeping Clients Expectations RealisticThe small business owner or manager may return from a trade show with a gorgeous glossy brochure (and mouse pad) for an industry-specific application. Since your small business consulting client thinks the application is the best software since Lotus 1-2-3, he is ready to open up his firms checkbook -- but wants to run the application by the internal guru and your small business consulting firm, first.Although the ISVs marketing literature and Web site seem quite professional, upon further investigation you learn this $5,000 per seat package is built on an MS-DOS-based Clipper database engine (circa 1991). The Bottom Line about Small Business ConsultingWhile your client might have been impressed initially with the demo at the trade show, you need to overcome the hype surrounding the application and save your client from making a sizable investment in an application that shouldve been retired or supplanted years ago. Otherwise, your prospect or client may end up squandering scarce IT budgetary resources that could be better invested in the network solution that youre recommending.Copyright MMI-MMVI, Computer Consulting 101. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

Types of employee issues in a Small business

Types of employee issues in a Small business

When you are running a small business, you should be prepared for various kinds of obstacles. Employees are a major part of the obstacles that you face in a small business. Some of the employee issues that you might face in a small business are described briefly below. Work Over Load:Some employees have problems when it comes to work load responsibility. These employees may be those that simply do not want to do more than they are supposed to do within the stipulated daily work time. However, as an employer you would need to ass whether this is a real condition or if the employee has genuine problems handling a particular work load. Employees that are overloaded feel that they are either not getting paid enough for their work or that they simply can not handle all the work that they are given even if they were to get an increase in salary.In cases of overload, where an employee feels that s/he has been working more than the compensation offered overtime payment may arise. As an employer you may want to pay your employee extra to make sure that s/he continues to perform well. Sometimes it is just the matter of being paid more that helps an employee work more and take on a greater load. Remember, more money can do wonders. Naturally, employees that put in greater efforts and a greater number of work hours also need to be compensated. So, you justifiably need to pay an employee extra if s/he is willing to work on assignments that take more than the stipulated work-time.

Small Business Networks: Getting Past Small Business Networking Myopia

Many small businesses mistakenly think that theyre too small to cost-justify a "real" client/server small business network. However, because small businesses want, and in most cases, need, the same technology tools as their larger competitors, deploying a peer-to-peer network doesnt usually make small business sense (except for the tiniest small offices).Dont Let Clients Underestimate Technology RequirementsWhen purchase decisions are based solely on the initial price, small businesses tend to underestimate their technology requirements. If your client or prospect requires a secure, reliable, scalable and flexible technology backbone, the client or prospect needs a "real", dedicated server for their "small business network" .As virtual CIO, part of your responsibility is to see that "sound" decisions are made. So dont let your small business clients invest in "dead end" peer-to-peer small business networking solutions that are difficult to support and expensive to upgrade.If your clients value their data, productivity, uptime and technology investment, a "real" server should be a "no brainer". The Bottom Line about Small Business NetworksIn much the same way that every home begins with a solid foundation, your clients small business networks need a secure, scalable, rock-solid file and printer-sharing infrastructure before you can start adding value-added "bells and whistles".Copyright MMI-MMVI, Computer Consulting Blog. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

Secrets Revealed, Best Practices & New Ideas for the do-it-yourself DIY marketer

Secrets Revealed, Best Practices & New Ideas for the do-it-yourself DIY marketer May 18, 2006Volume 2.3By: David Adar editor at www.EdgeMarketingTools.comSecrets Revealed, Best Practices & New Ideas for the do-it-yourself DIY marketer New generations of do-it-yourself tools are available today that remove the mystery from generating quality leads for your business.DIY Marketing LeadsNo business or even a not-for-profit organization can flourish without the input of quality new leads and contacts. New clients can come from referrals & natural word-of-mouth leads but to be proactive in today's eCommerce fast pace data environment time is measured in quantum leaps that make dog years seem like snail-scale.DIY Marketing ResultsAny good marketing team must have a toolbox with a suite of tools that mines the Internet for hard-core results. Data mining today is what the Klondike was to the gold rush. Google alone does not sufficiently serve the requirements of today's data miners. What good are 565,000 search results when what you need are 300 new email addresses that are current, tested to work today, along with their associated url web page addresses so that your team can review & select the most relevant hot prospects for today's marketing campaign.This article outlines for you a step-by-step procedure for getting a 2006 "data mine" r's results as compared to the old style online research dating back to dog-years ago.DIY EDGE Style Marketing Procedures1. Carefully select a few (not too many) key words or phrases that will result in your main target of interest for your current data mining effort or campaign.2. Enter these into your web data miner of choice. Any good web crawler, harvester or spider should get you good results. 3. Export the resulting list to CSV (a comma delimited spreadsheet file) as well as to simple text (file.txt) for various later uses.4. Review your list of saved email addresses or whatever data you are mining for. Clean up the list & begin working with your newest contacts & leads.5. Its a good idea to run the new list through a Verifier that checks the DNS of each email & pings the address to discover if the address is currently valid. Many addresses expire & are still published on live web sites. The same verifier program will let you eliminate duplicates, merge lists, & do various other cleanup functions.6. You are ready to launch into your business development 2006-web-data-mining Edge-style.Tech marketing gurus and builders of "Do It Yourself" marketing software understand the need for generating new leads from the Internet. Many web marketers offer full FREE trials of their program modules. At www.EdgeMarketingTools.com visitors can find the most effective introduction to DIY marketing with easy ways of obtaining quality leads from the web. This style of software will lessen the burden DIY marketers face when mining the web for potential prospects & new clients. Any time spent testing these free downloads is well invested in your business.Visit each week for the next article in this series where other mysterious aspects of Web Data Mining and Internet Marketing will be explored & demystified. The author, as a professional analyst & systems developer, has been using "data mining" tools for years of every variety and stripe.This article is part of a series of weekly articles published by www.EdgeMarketingTools.com. Volume2.issue3All rights reserved. Copyright, 2006 David Adar, www.EdgeMarketingTools.comPermission is granted for republishing this article online within fair limits as long as the article is published in its entirety including the signature & links. Please observe this good business practice for reciprocal benefits. You are welcome to contact info@EdgeMarketingTools.com for reciprocal marketing linkage.

Summary

As an entrepreneur, who are thinking of going into business, or who is already conducting business, you have to start learning about the basic concepts of Accounting because they are the concepts that are used in reporting your business activities to the government come tax time. It is time you must know about one of the most fundamental concepts in accounting.