by Consultant's Mind | Learning
From 2016, as a FYI, US tax laws keep changing. . . In my mind, depreciation has two meanings – the common sense definition most people know intuitively, and the financial accounting definition which dictates how costs of fixed assets are spread out over many...
by Consultant's Mind | Consulting
Accounts receivable (AR) is what people owe you For anyone who has written an invoice or had difficulty getting a client to pay you for your work, you know how awkward and stressful it is wait for the money. Checking your email, mailbox and bank account to see in...
by Consultant's Mind | Learning
Financial accounting is the language of business No question. It’s how investors, managers, creditors, suppliers, and regulators keep track of the “score”. Without it, even the most basic questions like “how much profit did you make”...
by Consultant's Mind | Learning
For 80% of you, this is so basic that you just “rolled your eyes”. Completely understand. If one of my team asked me this, I would not be happy. I would be scared. In a quick survey from my last post, looks like 1/3 of us don’t feel that confident...
by Consultant's Mind | Learning
Consultants are not accountants Yes, there are a lot of consultants who work at the big 4 (Deloitte, E&Y, KPMG, PWC), but they are not accountants. If you ask them to balance credits and debits on a ledger, they will look at you like a confused dog. Yes, we took...
