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Bookkeeper, Public Accountant

 

Get Your accounting & bookkeeping And Bookkeeping Done For 90% Off With This Secret Economic "loophole"

If you would like to get all your accounting & bookkeeping and bookkeeping services done for 20, 15, even as low as ten cents on the dollar, then this article will show you how.

Check this out:

Although most people don't know it, there is a billion dollar worldwide industry called the barter or "trade" industry.

And in this industry there are a bunch of barter e that act sort of as buying clubs -- where thousands of different businesses join and do business with each other using n...

taxes,finances,save money,barter

If you would like to get all your accounting & bookkeeping and bookkeeping services done for 20, 15, even as low as ten cents on the dollar, then this article will show you how.

Check this out:

Although most people don't know it, there is a billion dollar worldwide industry called the barter or "trade" industry.

And in this industry there are a bunch of barter e that act sort of as buying clubs -- where thousands of different businesses join and do business with each other using not regular money but "trade" dollars. Trade dollars are currency -- just like the dollar in your pocket is currency -- but it can only be spent within that barter company.

It's sort of like a big Monopoly game.

In Monopoly you have different bills ranging from $1 to $500. But those bills are only valuable in the game. Outside the game they are worthless. And the same goes with trade dollars. They can be used just like cash, but only with the businesses in the barter exchange.

Now, almost every single kind of business you can think of can be found in these exchanges -- including bookkeepers, bookkeeper, public accountants and tax professionals. And a few years back I discovered a secret "loophole" in the barter industry that lets you buy any of the thousands of products and services -- especially accounting & bookkeeping and bookkeeping -- sold on trade for as little as 20, 15 even 10 cents on the dollar of "real" money.

Here's how:

What most people in the trade industry don't think about is trade dollars are not as easy to spend as regular dollars. And many businesses in barter end up accumulating thousands of trade dollars they are either too busy or too lazy to spend. Which means it is basically as worthless to them as Monopoly money.

Remember, it's not like regular money you can spend anywhere. You can only spend trade dollars within the exchange.

And you can get tens of thousands of dollars worth of accounting & bookkeeping and bookkeeping services for yourself and your business for mere pennies...simply contacting people with excess trade money, and offering to buy their "trade" dollars with regular dollars -- and at a steep discount.

Let me give you a "real life" example.

Just last year I owed my bookkeeper, public accountant $3,000 for doing my taxes.

Since my bookkeeper, public accountant is in a barter exchange, I simply found someone with $3,000 in excess trade money and, in less than ten minutes, bought all $3,000 of their trade dollars for just $600 cash.

That's a full $2,400 in savings.

I do this every single year. And save hundreds -- if not thousands -- of dollars.

And you can do the same thing.

Simply look at the list of bookkeeper, public accountants, bookkeepers, CPA's and other tax professionals in the exchange (the big ones have dozens of these types of businesses), see what they charge, and then find another business in the same exchange with excess trade dollars and offer to buy their excess trade dollars for 20, 15, even as little as ten cents on the dollar.

In other words, if someone has $5,000 in excess trade, tell them you will buy it from them for $500 in real cash -- or ten cents on the dollar.

Believe me, some companies have so much trade money they have no idea what to do with it. And they know it's all but worthless if they can't spend it all. Which is why many of them will almost always agree to sell their trade at a steep discount for real cash.

Pretty amazing, isn't it?

If you spend a lot of money on accounting & bookkeeping related services you will save a fortune with this secret -- especially at tax time.

 

Got to love that accounting & bookkeeping equation

A company’s financial position indicates the amount of resources that they have, and also the claims against those precious resources at any time. Claims can also be referred as equities. So, a company can be known as a combination of economic resources and equities. Economic Resource=Equities. No mater what type of business your in, every type of company has two different types of equities. They are creditor’s equity and owner’s equity. In another way Economic Resources= Creditors Equities +Owners Equity. When using accounting & bookkeeping language, the economic resources a company has at a particular time is called their assets? On the other hand the amount of creditor’s equity a company has is known as their liabilities. So here is the standard equation of accounting & bookkeeping or better known as the accounting & bookkeeping equation: Assets=Liabilities + Owner’s Equity. Similar to an algebraic equation, both sides of the equation has to be equal. This equation comes in handy when analyzing the financial effects of your everyday business activities. Let’s talk about a very important concept of any business. Assets are known as the economic resources that a business has that are expected to generate money for them in the future. Some examples are real estate and any other property that a business own so that they can rent out to people. If a business is owed money than it goes into what is known as accounts receivable which are monetary items. However, there are some assets that are not physical. Some examples are copyrights, trademarks, and patents, but they are still extremely valuable to a business. Next, liabilities are the obligations that a business has such as paying cash, provide future services to individuals, or transferring assets to another entity. These are known as the debt of a business or the money that they have to owe in the near future. All of these are recorded in the accounts payable. As I’m sure you know, having a lot of debt is not fun and liabilities/debt are claims that are seen by the law. The law gives creditor (People that money is owed to) the right to push the sale of a company’s assets if they don’t pay their debt on time. Creditors have a ton of rights over owners and they have to be paid in full even before the owners receive anything. It is very possible for a debt to consume up all a company’s resources. Next, owner’s equity refers to the claim that owners of a business make in regards to the assets they have. It is the residual interest or the remaining assets of a company after deducting the amount of entity liabilities. Here is the equation for owner’s equity. Owner equity=Assets-Liabilities. The owner’s equity within a particular corporation is referred as stockholders equity, so the equation then looks like this. Assets=Liabilities +Stockholder’s Equity. The stockholders equity has two distinct parts which are the contributed capital and retained earnings. Stockholder’s Equity=Contributed Capital + Retained Earnings. The amount than an individual stockholder puts into a business is known as the contributed capital. Contributed capital is usually divided into two separate parts known as par value and “par value” and “additional paid in capital.” The retained earnings are the amount of equity that is earned by stockholders from the income generating activities of a business that are kept for future uses by a business. Retained earnings are affected by three types of transactions which are revenues, expenses, and dividends. The increase and decrease in a stock are known as revenues and expenses respectively and these come from operating a business whether online or offline. If you’re online than an operating expense that you will have if you have your own website is your domain name and hosting service. Another example is if a customer agrees to pay you in the near future for a service that the company will perform. The money is recorded in the accounts receivable (asset account) which increase the asset value but decrease the stock holder’s equity amount which is an example of revenue. However, if a company promises to provide a service in the future than this is known as an expense. When this happens the assets decrease (accounts receivable) and the liabilities (accounts payable) is increased, which makes pretty good sense right? When the revenues exceed the expenses this is known as the net income which is good, and on the other hand when expenses are greater than revenues than this is known as net loss which means that you’re losing business or your business costs more to operate than what you make. Dividends are the distribution of assets to stockholders which refer to the past earnings. Do not confuse expenses with dividends, because they both are reducing the retained earnings amount. Retained earnings are the collected net income or revenues minus expenses. The financial statements are the main way for communicating information about a business to those who have some type of interest in it. What helps me is to think of these statements as a type of model for business because they show how a business is doing in financial terms. However, like a variety of methods and models, financial statements are not perfect and have their flaws. There are four main financial statements, and they are income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows. What the income statement does is summarize the revenues earned or the money made, and the expenses or the money that is deducted from a business. Many bookkeeper, public accountants consider it the most important financial report because it makes it clear whether a business has met its profitability goal. The next one is the statement of retained earnings, and it displays the retained earnings over a period of time. The time that the retained earnings will be zero is when a company first started out in their accounting & bookkeeping period. A lot of companies use the statement of stockholder equity as a substitute of retained earnings. This is a more detailed statement because it displays not only the aspects of retained earnings but it also shows the changes in the stockholders equity accounts. Next, the financial situation of a business on a particular date, usually on the end of the month or the year is the balance sheet. The balance sheet displays the value of a business according to their assets and the claims against those assets which are the liabilities and the stockholders equity. Last, the statement of cash flows is geared towards a company’s liquidity measures. They are basically the flow and outflow of cash in a company. The net cash flow is the subtraction between the inflow and outflow of money. The statement of cash flows also display the money generated by simply operating a business, and it also displays the investing and financing transactions that occurs during a particular accounting & bookkeeping period.

 

The accounting & bookkeeping Equation

As an entrepreneur, who are thinking of going into business, or who is already conducting business, you have to start learning about the basic concepts of accounting & bookkeeping because they are the concepts that are used in reporting your business activities to the government come tax time. It is time you must know about one of the most fundamental concepts in accounting & bookkeeping.

forex, currency, currencies, trading, invest, wealth

As an entrepreneur, who are thinking of going into business, or who is already conducting business, you have to start learning about the basic concepts of accounting & bookkeeping because they are the concepts that are used in reporting your business activities to the government come tax time. It is time you must know about one of the most fundamental concepts in accounting & bookkeeping.

bookkeeper, public accountants process data into documents called financial statements. It is the accounting & bookkeeping equation that is the basis for the entire accounting & bookkeeping system.

So what is this magical equation?

The accounting & bookkeeping Equation is:

ASSETS = LIABILITIES + OWNERS' EQUITY.

In crude definition,

ASSETS are economic resources of the business that are expected to bring benefits for the business in the future.

LIABILITIES are economic resources borrowed by the business from another person or an organization.

OWNERS' EQUITY is the economic resources that was contributed by the owners of the business to the business.

One way of thinking of this equation is that the left side is what the business has including its money, equipment, building, land, furniture, etc... The right side indicates where these assets had come from. Were they borrowed from parties outside the business, or were they contributed by the people who own the business.

The other version of this equation, that you might bump into is the:

ASSETS - LIABILITIES = OWNERS' EQUITY.

In other words, if the business's assets pay off all its liabilities, you are left with a figure that indicates the economic resources that belongs to the business's owner.

It is pretty much the same thing, a concept of transposition in algebra.

If you take a look at a business's BALANCE SHEET - or what is now modernly called as A STATEMENT OF FINANCIAL POSITION - you'll notice that all the items in there are arranged following this accounting & bookkeeping equation in either one of its versions.

Of course in a BALANCE SHEET, it is written vertically, instead of horizontally as it is in the equation.

You'll see the items arranged somewhat as:

ASSETS XXX LIABILITIES YYY OWNERS EQUITY ZZZ

Where, XXX = YYY + ZZZ.

So, next time you see a balance sheet aka statement of financial position, take the time to recognize this logic.
______________

This article was written for OrangesAndLime.com, to help creative individuals — artists, musicians, designers, illustrators and entertainers — build their own freelance businesses. Please note that this article serves as a guideline only. You should still seek professional advice regarding the matter because laws and practices change over time and they differ from country to country.




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