There are three financial statements you should regularly review: Balance Sheet Income Statement Statement of Cash Flows Your Balance Sheet Is Your Present The Balance Sheet is a statement that shows where you are right now. It’s the present. You can see how much money you have in the bank, at a certain point, how [...]
California- based Fry’s Electronics was on the receiving end of a major vendor fraud scheme at the hands of their Vice President of Merchandising. On January 6, 2009, Omar Siddiqui, 43, Vice President of Merchandising of Fry’s Electronics in San Jose, California, was charged with 9 felony counts including four counts of money laundering and [...]
Inventory is something that confuses a lot of people. It should be an expense. After all, inventory is something you sell. It costs you money to buy or to manufacture. So, why isn’t it considered an expense or a liability to your business? Why does it appear on your Balance Sheet as an asset? Well, [...]
Want to pay less in taxes? There are two secret weapons that business owners and investors have: Tax laws. Timing. In these days of rising tax rates, decreasing exemptions and future surtaxes, it’s hard to believe that there are ANY tax laws for business owners. But that’s where this gets interesting. The tax increases are [...]
