Frequently Asked Questions about Accounting

Here are some of the most frequently asked questions about accounting that may help you out:

1. What records should I keep?

Balance sheet: assets, liabilities, and equities

Income statement: your business’s income and expenses

2. How can I prepare for tax season?

Keep your eye on business expenses you might need to claim on your tax return

Keep all your financial statements up to date to make filing easier

3. What are common mistakes people make when it comes to their personal and business accounting?

Mixing personal and business accounts

Lack of communication between the client and the accountant

Not keeping your accounting up to date

Forgetting to save receipts

For more FAQs visit these websites:

https://www.uschamber.com/co/run/finance/frequently-asked-accounting-questions

January 11, 2023 Johaine - JTM Business Solutions Knowledge Hub

About the author

Johaine is a Chartered Professional Accountant (CPA) with over 15 years of accounting experience. Johaine has a strong background in bookkeeping services, internal control systems & procedures and risk advisory services. Her skills and experiences garnered over the years has served her well in her more recent roles as Controller and CFO. Johaine is also an active Board member, Executive Committee member and Finance/Audit Committee member of the Better Business Bureau.

Comments are closed.