How to Avoid These Common Real Estate Accounting Mistakes
When you work with real estate, realty accounting is a bit part of your business. The last thing you want to do is make a mistake with your books, which can cause a lot of other problems to develop down the road. Here's a quick look at some of the most common real estate accounting mistakes and how to avoid them in your business. Failing to back up data: It's not just that letter or spreadsheet you're working on, it's everything you've got stored on your computer. Your accoun
Low-Cost Labor: How to Use Interns in Your Business
If you've ever needed more labor than your business can afford, you may have considered the option of hiring an intern. Typically a student that is looking for real-world business experience, interns provide you with options that you may not have considered in the past. However, there are some rules that need to be taken into account. Here's a quick summary to help get you started. To start, it's important to understand the laws in your city and state. There are some restrict
How to Encourage Customer Feedback to Improve Your Business
When you're running your business, how do you know what your customers really think about your operation? Getting customer feedback about your employees, location and company as a whole can be difficult to obtain if you're not quite sure how to go about the process. Here's a look at different ways you can encourage customer feedback or otherwise receive feedback for your company to improve your operation. Consider a rewards program. If you want a customer to provide you with
What does diversity and inclusion mean in accounting?
Today's world has a strong push for diversity and inclusion in the workforce. But what does that mean for the accounting industry? Equal opportunity laws, social focus on company makeup, working remotely and similar aspects are all converging to make access to work easier than ever. Recently, the outgoing Chairman of the AICPA, Kimberly Ellison-Taylor, made a statement with regards to whether the accounting industry has reached this lofty goal. In her discussion, she mentions
What's this Bitcoin thing and how does it impact my business accounting?
If you've been paying any attention to the news lately, you know that cryptocurrency like Bitcoin is hot news. But exactly what is it? That's a question open to some level of interpretation. How do you handle it in accounting for your company if you choose to receive it as a payment or invest in it for your company's future growth? Here's a quick overview of what Bitcoin is and how business accounting with Bitcoin works. Bitcoin is a cryptocurrency, or virtual currency, which
Bug in the System: A Look at the Wolters Kluwer Hack
Having problems with your Wolters Kluwer tax and accounting software? If you are, it may be due to the bug that has shown up in their system. But what kind of bug is it and how will it impact your business' ability to function? Here's a quick overview of the situation as it has developed and how it is being addressed. Starting at about 8 AM Eastern on Monday, May 6, the company has not addressed what type of issue is causing the problems, but experts claim it has much in comm
What Will Easing of Enron-Era Accounting Rules Mean for Your Business?
Recent proposed changes by a US regulator is considering freeing smaller companies from the requirement that they have an auditor sign off on their financial reporting internal controls. This aspect of the Sarbanes-Oxley Act, put into place following the Enron scandal, has faced many years of strong criticism from business groups and conservative lawmakers who find that the rules are too burdensome for smaller businesses. The SEC members voted 3-1 to seek public comment about
The Basics of Planning an Asset Recovery Strategy
Digitization is impacting almost every industry, requiring businesses within those industries to become leaner and more agile in their operations. A strong part of moving to this eventuality is having a solid asset recovery strategy in place. This type of strategy allows you to track and recover value from a wide range of assets, from used vehicles to stored parts for your equipment. Here's a quick look at the basics of putting together a solid asset recovery strategy for you
