Duluth, GA CPA Teaches Accounting and Bookkeeping for Your Business

Duluth, GA CPA Teaches Accounting and Bookkeeping for Your Business  

This is the third of a Series about how Atlanta Business Owners & Entrepreneurs can make sound Accounting & Bookkeeping Decisions to Both Track and Record their Business Assets, Liabilities, Income and Expenses.

To determine the future net worth of your business, a determined and insightful understanding of your Profit & Loss statement (P&L) is essential and critical. Though a balance sheet is a recap of what has happened to a business's assets and liabilities to date, a P & L, if properly presented/managed/understood is a look into the company's short as well as its long term viability. A businesses P & L essentially measures how well the business is utilizing company assets, personnel procedures and facilities in its effectiveness of serving customers while keeping a keen eye on profit maximization. By properly gathering and studying one's operations and its corresponding P & L, one can learn much about a business which is useful for measuring rates of return, detecting both positive and negative trends, taking corrective action, and business valuation.

As with all ratios, care and attention should be given to evaluate them in light of company size, maturity, business climate and industry. Though there are many general rules of thumbs for a variety of different industries, there is no substitution for wise and judicious counsel of a wise and trusted business adviser/CPA. They will help evaluate these and many other nuances which make your particular circumstances, operating overhead and unique niche. Below is a sample letter we might use to help get the data we need to help a business owner as they take steps to correct errors in their internal books and records. Having served as an Atlanta CPA for decades, I know firsthand that the beginning to properly running and managing an Atlanta Business is to have Adequate Bookkeeping & Financial Statements that reflect actual operating results.

If you might please print out and mail to me.

 2009 Standard Balance Sheet

2009 Standard Profit and Loss

2009 Trial Balance  

Please be reminded to ask your prior accountant to give us a copy of your detailed fixed asset schedule.  

Please forward to me a copy of your 2009 Corporate and Personal Income Tax Returns.  

Please forward to me a copy of your Journal Entries for both 2008 and 2009 being sure to list them on separate reports.  

Please forward to me a copy of your detailed general ledger by year for 2008 & 2009

What, then, shall we say in response to this? If God is for us, who can be against us? Romans 8:31 Why are these verses here? Learn how His CPA became a Christian Accounting firm visit http://www.hiscpa.com/christian-CPA.html  

John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 http://www.hiscpa.com/  http://www.john-dillard.com/  Contact John Dillard CPA (An Atlanta Christian/Speaker & Author) to retain him to speak to your business group or church congregation. 

Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!