Chicago Accounting Articles

Updated July 24, 2015   Accounting Standards Chicago Illinois   There are two common accounting standards generally used in small and medium sized businesses.   Definition of ‘Tax Accounting’ or Generally Accepted Tax Principles – GATP   This is the … Continue reading →

Updated July 24, 2015   Accounting Information Chicago Illinois   Good Accounting Information Is Vital   The biggest difficulty that most novices have with accounting information is that they don’t understand the basics which create proper accounting information.   1. … Continue reading →

Updated July 24, 2015   What is a Financial Statement Chicago Illinois   Financial Reports   A financial statement (or financial report) is a record of the financial activities of a business, person, or other entity. The relevant financial information … Continue reading →

Updated July 24, 2015   What is an S Corp Chicago Illinois   Form 1120 and How to S Corp   Form 1120 s is the U.S. Income Tax Return for an s corporation. An s corporation is a corporation … Continue reading →

Updated July 24, 2015   Why are the dates on financial statements important Chicago Illinois   Because you can’t do financial statements without dates or a period of time and expect them to be relevant.   An Income Statement shows … Continue reading →

Updated July 24, 2015   Management Accounting Chicago Illinois   What is Managerial Accounting?   Management accounting or managerial accounting is concerned with providing financial information to managers within organizations, so that they may make informed business decisions that will … Continue reading →

Updated July 24, 2015   Minority accounting firms Chicago Illinois   Given the fact that I am half American Indian, if you are looking for a minority owned accounting firm, you’ve found one.   If you are having problems with … Continue reading →

Updated July 23, 2015   Tax Firms Chicago Illinois   Tax Firms Franchise   Have you ever gone to one of the franchised income tax firms, sat down with a preparer, and realized that you knew more about taxes than … Continue reading →

Updated July 14, 2015   Accounting revenue cycle strengths and weaknesses in financial accounting Chicago Illinois What are the accounting revenue cycle strengths and weaknesses in financial accounting?   Most businesses have a seasonal aspect to their revenues and expenses. … Continue reading →

Updated July 24, 2015   What Does an Accountant do Chicago Illinois   What do accountants do Chicago Illinois   All About Accounting   An accountant is a practitioner of accounting, which is the measurement, disclosure or providing of assurance … Continue reading →