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Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

?. As Warren Buffet says, accounting is the language of business. He and other savvy business owners use accounting to make investment decisions and decisions to grow the businesses they invest in. But interestingly enough, many small businesses often neglect their accounting until tax time, or don’t do it all. Look, I get it.

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Accrual Accounting vs Cash Accounting: What Is the Difference Between Accrual and Cash Accounting?

Snyder

As a small business owner, making sense of the accounting basics and bookkeeping terminology might be giving you a little bit of a headache. At the same time, being able to successfully maneuver the world of accounting is crucial to the success of your business. What is accrual-basis accounting? Contents: 1.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

But the most important aspect of any business is accounting. All small business owners need to be familiar with basic accounting and bookkeeping, as it gives them a clear picture of the state of their finances, allows them to make informed business decisions, and lets them react to any adverse changes faster.