Remove double entry bookkeeping Remove Maine Remove payroll tax Remove Tax
article thumbnail

GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

The components of GAAP can be broken down into two main categories: accounting procedures and reporting standards. On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data.

article thumbnail

Accounting Basics for Small Business: A Simple Guide

Snyder

Go through business bookkeeping basics. Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making.