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Small Business Accounting 101

In small business accounting 101, there are several simple basic accounting principles that every small business owner should follow. We are going to discuss the topic of Business or Economic Entity Assumption on this page. Accounting 101: Basic Accounting Principle This assumption requires us as small business owners… to keep all of our business expenses separate from …

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Let’s Learn Some Accounting Basic Terms

Below are some simple accounting terminology or basic terms every small business owner, bookkeeper, and the auditor should have a thorough understanding of…even if you have a certified public accountant CPA that takes care of all that “stuff”… Accounting Basic Definition: Accounting is the process of documenting the financial transactions of your business entity in a way that …

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