Accounting Principles & Standards: Avoid Them At Your Peril
Accounting is a discipline of mathematics and business management that deals with the recording and analysis of financial transactions. Accounting is used as a tool for measuring, understanding, predicting, communicating, planning and controlling business operations.
accounting principles & standards: avoid them at your peril-daniel giangreco-be warned! there are too many rules governing accounting to keep track of them all anymore. it's one reason why audits are getting harder to conduct accurately. but you can't afford to be concerned about such things when you're facing some very difficult decisions right now as an entrepreneur or a company director...like whether or not to hire someone responsible for doing your books.
what is their background? have they taken a formal accounting course? have they been trained on the job? do they use accounting principles & standards: avoid them at your peril-daniel giangreco-be warned! as a guideline when preparing your financial statements? can you call them when you need to and talk about something that's not on your books? are they bound by them, or do they just use them as a guide...and possibly not even that.
i don't think we live in an age where the best qualified person gets the job anymore. in many parts of the world, it's now more likely that the person with connections gets the job. this has always been the case with civil service jobs. it's far too easy to make a low paying job into a career when somebody in an influential position can keep you there till they retire, or your replacement comes along.
the introduction of accounting principles & standards: avoid them at your peril-daniel giangreco-be warned! in many countries has made it even easier for the wrong people to end up in the wrong place at the wrong time.
a good starting point would be to ask someone you know and trust about their experience with accountants. find out what their impression is. it could be very enlightening for you...and i hope they'll be honest enough to tell you the truth.
it's pretty easy to find out what kind of salary they're getting. in many countries, it's public information. where that is not the case, you could check with your attorney or accountant for an estimate for what you could expect to pay for such a position. there are also companies that provide such data...and it's now even easier, with the internet and www search engines like google and yahoo!
i'm sure these things wouldn't be all that important to you if you were running a small business or family firm and didn't have a huge amount of money on hand.
but i'm pretty sure they would be more important to you if you were considering the setting up of a multinational corporation, with divisions in many countries around the world...etc.
the bottom line is that accounting principles & standards: avoid them at your peril-daniel giangreco-be warned! are still relevant and you're going to need good accountants who know what they're doing or you could end up in serious trouble.
it's not just about getting your taxes done on time, or keeping a steady eye on your business profits and losses. it's going to be about how well you structured your company...and how good your accountants are at providing you with the information you need. i'm sure that would be no laughing matter for you!
so, the bottom line is...invest in an accountant who is going to give you the real bottom line on what's happening in your business or corporation. keep yourself informed. if your accountant can't help you, get someone else! another expert!
i hope this has been helpful to you. good luck with whatever it is that you're doing and please keep me posted on how everything works out for you...because i always want to know what's happening in your part of the world.
your comments are important to me and i appreciate hearing from you. thanks!
for more great business tips, visit my website and sign up for my free newsletter, audio & video programs: www.giangreco.com . have a nice day and feel free to forward this email to your friends...and if you feel the urge, please do leave me a message at: suggestions@giangreco.com . thanks!
-daniel giangreco-author of "how to make money working from home"...available at http://www.amazon.com/gp/product/0974558856... and "how to make money working from home"...available at http://www.amazon.com/gp/product/1612171471...
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accounting principles & standards: avoid them at your peril-daniel giangreco-be warned! by daniel giangreco
(also available for your kindle)
Most people don't read this book because it's so controversial, and like the title, it can be quite scary. Maybe you've read some articles that interview accountants and they tell you how much of an accounting skills shortage there is in this country. But, do you really believe them?
What you don't know is that a lot of the work done by accountants is more about making profits, and less about giving objective advice. This book lays it all out for you in easy to read language that will help you make decisions and protect yourself from bad accounting advice or type of wrong information published by the media.
Funny how things change, because Accounting Principles & Standards: Avoid Them At Your Peril-Daniel Giangreco Be Warned! was first published in 1989 and now there are new issues on the horizon. Some things don't change though, such as; The need for good information management skills at all levels in businesses. This book will show you how to get all the information you need in a simple and efficient way, and how to make sure that your information management skills are right.
This book is not about poor accounting practice or sloppy accounting mistakes or the wacko accountant who got lucky. It's about all the different things that can go wrong in business, and why bad accounting practices occur.
If you've read my first book, How To Make Money Working From Home In The 21st Century, then you already know how much I believe in this book because I was influenced by it when I was writing that book.
Conclusion, how can you avoid accounting principles and standards? You'll find out in the first few pages, but I'll tell you I believe that the decisions we make can sometimes alter the course of our future.
The author has worked as a CPA, and tried to develop better accounting standards and practices in his accounting practice. This book analyzes what is wrong with current practice, what makes it wrong and why it's so dangerous for business. The book also touches on other important issues such as why some people are more likely to be good at their job.
You should have this book because knowledge is power...no matter whether you're an accountant or not.