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I took Accounting 101 at Curtin
University of Technology.
It was so hard, I couldn't
believe I passed the subject!
It made me change my entire
majors.
From Finance & Accounting (I
was trying so hard to be ‘smart', not working eh?  ), I changed it to
Finance & Marketing.
When we started this company, I
was so confident that we would be just fine. I could ask one of my partners to
work on our accounting.
This partner we're talking about,
did NOT take any accounting subject at university. So you can imagine how
horrifying it was for her to go through our company's financial statement.
Finally, we took a very smart
girl as our accountant. She has a Master degree in Accounting. Bless this woman
for coming into our lives. The numbers look good, that's a relief. But the
little details of accounting are no fun and games. This is serious stuff!
Any business should start with a
good accounting reporting system. Please do not underestimate the power of a
good accountant.
I was speaking to an entrepreneur
friend of mine. He told me that his business is in excellent shape, he has to
inject new capital every month. Excuse me? I think this guy needs an
accountant.
Another entrepreneur friend of
mine, told me that she is making so much money but she has not enough cash to
pay for next year's franchise fee for this business. Excuse me? I think this
girl needs an accountant.
Having an accountant by your side
means, someone will be generating a full comprehensive financial report. It
also means, you will be able to look into the important stuff. Not just Revenue
- many people have made the mistake of thinking in Revenue instead of Profit,
but also in terms of Return on Investment.
The tips today is : GET YOURSELF
AN ACCOUNTANT!
Even better, also get yourself a
tax consultant! Write to me at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
if your small business needs "QM Accounting Report Generating Services"
and/or our tax consultant friends.
Finance Should Be Practical!
Ligwina Hananto
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