Tag: Bob Steele CPA

Separate Business Entity Assumption

The separate business entity assumption means that the accounting for a business will be kept separate from the accounting for personal finances as well as from other businesses. The separation of business objectives helps provide users with information relevant to the business and therefore useful for decision making. Separating Business and Personal Objectives Allows Better Measurement… Continue reading Separate Business Entity Assumption

Global Economic Outlook, Q2 2017

What lies ahead for the world's major economies? Explore the latest issue of Deloitte's Global #Economic Outlook. https://t.co/zlNS1c0KiR — Deloitte (@Deloitte) June 3, 2017 http://www.youtube.com/c/AccountingInstructionHelpHowToBobSteele http://accountinginstruction.com/ https://www.facebook.com/pg/AccountingInstructionhelp/videos/?ref=page_internal

Accounting Objectives – Short Overview

Accounting Objectives

Importance of Objectivity in Accounting Objectivity – To provide information useful to investors creditors, and others. The concept of objectivity seems obvious, but we always need to keep the end goal in mind, the creation of useful information for external users. Financial accounting is aimed at producing useful information for external users like investors, creditors,… Continue reading Accounting Objectives – Short Overview

Accounting Compared to Checkers Game

Accounting & Checkers

The game of checkers starts with setting up pieces on a board, a spreadsheet, following a set of rules. To set up the board, we need to have memorized the rules for doing so. Memorizing rules is not the fun aspect of checkers but is a necessary one to receiving the enjoyment of playing the… Continue reading Accounting Compared to Checkers Game

What is Accounting and Why Learn Accounting

The first questions asked when introduced to any new topic are often: What is it? Why do I need to know it? We will address the second question first: why do I need to know accounting? Answer: Because it’s fun. Because accounting is fun is likely not the first thing that popped into your mind,… Continue reading What is Accounting and Why Learn Accounting