A bootstrappers podcast for founders, entrepreneurs, visionaries and dreamers who are building businesses from the ground up without the taking on debt or selling equity. Here we cover marketing, sales, organization and mindset issues that matter to you
…
continue reading
Content provided by eastman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by eastman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!
Go offline with the Player FM app!
GIP 2019 Article #3 Accounting & Invoicing
MP3•Episode home
Manage episode 229033220 series 2357264
Content provided by eastman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by eastman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In Article 1 we over viewed the documents you should receive monthly; whether provided by an accountant or from a software package. Article 2 focused on Staying Profitable. This article starts at the strategic level on the types of accounting and then moves to how to make it work for you. There are 2 types of Accounting, Financial and Managerial. Financial Accounting is well known to most business owners. It meets the requirements of investors, creditors, and government taxing agencies. The standards for proper Financial Accounting in the United States are set by the Financial Accounting Standards Board (FASB). Financial Accounting is a legal requirement and you must play by its rules. Managerial Accounting is not ruled by any standards except common sense. There are several models employed like ABC (Activity Based Costing) and are unique company to company. So what is it? It takes the same numbers and recasts it to track true costs by step, activity, product / service line, or customer. It provides you with the total cost of each step in a process. At this point you should ask yourself - why do I need to know this? The why is your ability to answer the following questions: Who are our most profitable customers? What are our most profitable products (services)? Are our products (services) correctly priced?
…
continue reading
122 episodes
MP3•Episode home
Manage episode 229033220 series 2357264
Content provided by eastman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by eastman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In Article 1 we over viewed the documents you should receive monthly; whether provided by an accountant or from a software package. Article 2 focused on Staying Profitable. This article starts at the strategic level on the types of accounting and then moves to how to make it work for you. There are 2 types of Accounting, Financial and Managerial. Financial Accounting is well known to most business owners. It meets the requirements of investors, creditors, and government taxing agencies. The standards for proper Financial Accounting in the United States are set by the Financial Accounting Standards Board (FASB). Financial Accounting is a legal requirement and you must play by its rules. Managerial Accounting is not ruled by any standards except common sense. There are several models employed like ABC (Activity Based Costing) and are unique company to company. So what is it? It takes the same numbers and recasts it to track true costs by step, activity, product / service line, or customer. It provides you with the total cost of each step in a process. At this point you should ask yourself - why do I need to know this? The why is your ability to answer the following questions: Who are our most profitable customers? What are our most profitable products (services)? Are our products (services) correctly priced?
…
continue reading
122 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.