Your work is going to fill a large part of your life. The only way to be truly satisfied is to do what you believe is great work. The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it – Steve Jobs
Bookkeeping Accounting Glossary of Financial Terms
We created this bookkeeping accounting financial terms glossary because its useful to understand the commonly used financial terms. These are a few important examples however its by no means a complete list of all bookkeeping accounting terms. It’s helpful to know a balance sheet from a balance date or forecast from your end of year financials etc.
Without a basic understanding of such, running a business will be challenging at best. We’ve kept the financial terms as relevant as possible with respect to our client base. For example we don’t concentrate on dealing in property accounting. Therefore there’s little to no point including financial terms specific to that field here.
We also didn’t include a number of the fairly obvious bookkeeping accounting terms like budget, debt, interest and tax. We may alter or introduce other examples in the future should we see the need. If you’d like to see more bookkeeping accounting financial terms within this glossary then please let us know. We’ll even add the four excluded above if you’d like to see them listed.
Can’t Thank You Enough Ivana
I employed the services of Ivana under very desperate need as I was in over my head on back accounting. Ivana although extremely busy at the time gave me 200 percent of her time and knowledge for which I’m indebted to her for. I would thoroughly recommend this very on to it lady to assist you in any area of accounting.
Rose O’Donnell – Trade Me
Good Fast Cheap Services Venn Diagram
Recently we looked around to see what some people are suggesting to hook potential clients. We found a number were promoting good fast cheap services and variations of it like best quick low-cost. While Account Wise offer competitive prices, we can’t offer good fast cheap services. It’s just not possible and anyone who says otherwise is someone you should really steer clear of. Refer to our Services Venn Diagram above. You get what you pay for, it’s that simple.
Account Wise offer works based around good service and variables of that. We’re not going to fill you with false promises making ridiculous claims which aren’t realistic. You won’t see us offer good fast cheap services however a number are.
Xero Performance Dashboard
Xero provides you with the ability to see where your business has been and heading. Use the performance dashboard in Xero and various metrics to map your success. It’s a great way to understand your financial position.
Working with a Xero Certified Advisor is the best way to make sure the performance dashboard information is in front of you. It’s also a fantastic way to make sure you have someone who can explain what it all means.
Too often businesses fail because business owners believe they have everything under control. This unfortunately couldn’t be further from the truth on several occasions. Account Wise is here to help you succeed and keep you on track with your goals.
Expansion by Duplication
While a percentage in business manage to stay afloat without proper systems, a number don’t. Do you want to flounder around fumbling your way through simple tasks or have a functional approach? Want to evolve, keeping up with the times or stick with things as they are, falling behind the competition or progress and go through sustainable expansion?
What do you feel would happen if one tried expansion by duplication of non-existent or poorly constructed, untested systems? Would such likely be conducive to a successful practice? No, in short these businesses will typically struggle and ultimately fail. Unfortunately too many in this situation tend to seek help when it’s too late. This can occur because they never saw it coming.
More often than not in this situation it’s reasonable to assume better planning and understanding was lacking. Disregarding Sensible Business Practice is seriously unwise. The more invested cost/debt wise the more serious it is. To take poorly executed systems or a business with little to none and expect to duplicate such is economic suicide.
The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, “house”) and νόμος (nomos, “custom” or “law”), hence “rules of the house (hold for good management)”.