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 firstname.lastname@example.org if your small business needs “QM Accounting Report Generating Services” and/or our tax consultant friends.
Finance Should Be Practical!
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