Insights: Article

White Paper: Accounting Basics

February 01, 2018

Your financial data (even though it is expressed in numbers rather than words) tells a story of where your business has been, where your business is now, and where you can go in the future. Accounting is one of the functional pillars of your business. It takes your everyday business transactions, organizes it into meaningful data and allows you to make informed business decisions. Accounting is important to get right—the first time.

Accounting is extremely important for your business, whether it’s the day-to-day functions, or long-term goals and profitability. Having a good grip on the basics of accounting not only gives you the ability to understand what all those numbers mean, but it also means you have the knowledge to help your business continue to grow and be successful.

But what if you don’t know a ton about accounting? What if you’re not even sure how to get started? Check out our whitepaper on the Basics of Accounting. In it, you will find:

  • What you need to track and why
  • Components of a balance sheet
  • Sample balance sheet and profit and loss statement

Still need more help? Our Business Outsourcing and Strategy team can help. Learn more.

Latest Insights

September 21, 2018
Article
In the wake of hurricanes, devastating results have been experienced by communities and businesses throughout the Texas Gulf Coast, Caribbean, Florida and southeastern United States. As a result of these catastrophes, businesses will turn to…
September 20, 2018
Firm News
Eide Bailly LLP announced the winners of its 2018 Nonprofit Resourcefullness Awards, recognizing creative and sustainable revenue ideas from nonprofits in Arizona, Colorado, Minnesota, North Dakota and Utah.
September 19, 2018
Article
The IRS has started sending out Letter 5699 asking businesses to verify if they should have filed Forms 1094/1095-C. These forms are required for all ALEs.
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in Pennsylvania? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into Pennsylvania tax filings.
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in Nevada? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into North Dakota tax filings. This webinar will cover registration,…
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in North Dakota? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into North Dakota tax filings. This webinar will cover registration,…
September 18, 2018
Article
As the largest tax reform legislation in the past 30 years becomes reality, it is important to stay up-to-date on planning opportunities and how reform may impact you and your business. Our Tax Reform: Practical Insights examples aim to break down…
September 18, 2018
Tool
Get ahead of tax season with the Eide Bailly Tax Planning Guide. A supplemental strategy guide to help guide year-end and make the tax laws work for you.
September 18, 2018
Article
The SCOTUS Wayfair decision has prompted a new focus on state and local tax compliance. The decision to register, report, and comply is important.