7 Accounting Tips for Beginning Businesses

We have the smartest and the most clever accountant in the world. So we asked him to write an article about starting a business and the accounting setup needed. Here's what he wrote, it's solid advice from an accountant that saves us tons of money.

1. KISS. Keep it simple starting out. The simplest form of entity for running your first business is called a sole proprietorship. This form of ownership requires NO special communication or filings to the Internal Revenue Service until you start paying employees.

2. As a sole proprietor you are the owner/entity which might require only to acquire an occupational license if your county or municipality mandates one. As the owner, you are also liable to remit all state or city tax collections on retail or wholesale sales your business collects. Service businesses and most cross state sales are exempt from state tax collections.

3. If you are concerned about personal liability as a sole proprietorship then do the cheapest and simplest thing which is to buy a personal liability umbrella policy. The best way to avoid liability is to learn your trade well and keep accurate records on Less Accounting.

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10 Tips to help you get an Accounting Degree Online

There are many excellent and growing opportunities for accountants in the corporate world at present. A degree in accounting helps brighten your future prospects in the field of accountancy. You can opt for an associate's degree, a bachelor's, master's or doctorate program.

If it is not possible for you to attend a regular university, you can still consider a career in accounting by going for an accounting degree online. The online course covers most of the aspects of accountancy and online college degrees from accredited institutes are considered to be at par with regular college degrees. There can also be the chance that the degree from a reputed institute might lead to better employment considerations by some of the organizations.

Here are 10 tips that will help you get an accounting degree online:

1. Select a reputed college with accreditation. If the college isn't a completely virtual one, it should have a physical address and a phone number where you can easily reach them.
2. Check out their different courses or programs available. An accounting degree online program should include courses in financial accounting, managerial accounting, taxation, and auditing.
3. Find out how long it will take to complete a particular course. Some online college degrees can be completed in less time than a regular college. According to the U.S. Uniform Accountancy Act, you require at least 150 hours of coursework to be able to appear for the Certified Public Accountant (CPA) qualifying exam.
4. Inquire about the online course fee structure and if there are any scholarships or financial aids available. It is also important to find out if they have a refund option available incase a student wants to discontinue the program or course taken.
5. Inquire about the educational qualifications and previous teaching experience of the faculty taking the accounting degree online course.
6. Find out about the number of students taking the accounting degree online course in different batches. If a significantly large proportion of people are taking the course, it may hamper the amount of time and attention that the teacher can give you.
7. Inquire about class schedule and contact details. Find out if the faculty can be contacted in case you want extra help with the coursework or need any advise regarding the technology used.
8. Make sure you have all the necessary technological equipment and software. For an Online College Degree, you will need to have a computer, an Internet connection, and some software necessary for online education. Some colleges provide the software as part of the course package.
9. During online education the basic mode of interaction is through discussion and emails. So it is important to inquire about the timings for online group discussions. It is an effective way to know your subject and co-students better.
10. It is important to be more organized when it comes to online education as you study from the convenience of your home and may lack the dedication to complete the course at times. Make sure you are regular with your study schedule and complete your assignments on time.
    

It is definitely a good thing to check out all the details about your accounting course before you enroll in one.

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Tips On Starting Your Accounting Career

Accounting is the language of business. Its knowledge is fundamental to any businessperson that seeks to plan expenditure and strive for a profit. Most business professionals are therefore required to study some accounting. Accounting professionals interact with all levels of a business and for many it's a very interesting job.

Eligibility

• Individuals with an analytical approach and technical expertise of accounting, good mathematical aptitude, knowledge of the technicalities of a business system and those who are well versed with computers.
• Basic eligibility is 4 years of college for a professional degree in accounting or a related field.
• A Bachelor's degree with a minor in another subject from an accredited college or university to apply for the Master's in accounting.
• People who have done their course in accounting over the Internet are also eligible for jobs in the accounting industry.
• In terms of job, prior experience as a trainee auditor or accountant can also help.
• Different courses and licenses require accreditations and licenses of certain organizations. For example, Certified Public Accountants (CPA) should have a license by the State Board of Accountancy (STA).
• A certain number of semester hours plus work hours are considered for 4-year bachelor's degree.
• Public accountants are taken as trainees. Management Accountants start as junior internal auditors or cost accountants.
• A master's degree in business administration (MBA) is preferred by many companies.
  

Types Of Accounting Jobs

• After a degree in accounting, one could qualify for a certified public accountant (CPA) or registered public accountant (RPA) license. Even though many do not have a license, they do get jobs as auditors or accountants in government offices or private companies.
• In the long run, one could excel to a position like chief financial officer (CFO).
• A certified accounting professional could become an auditor, financial officer, management accountant, budget analyst, or tax accountant. Tax accountants are preferred with a legal background.
• An independent job could prosper if the individual has a good network of contacts.
• There are specializations in accounting; for example, the forensic accounting where the accountant investigates the different crimes breeding on the company's finances.
• Teaching accounting can also be a good career option.
  

Tips On Starting a Career in Accounting

Following are a few tips on getting started

1. Decide which field of accounting you would like to get into.
2. Research related information and shortlist colleges and universities for the given courses.
3. Consult accountants or even teachers who have knowledge of the subject.
4. Enroll in a bachelor's degree or course in accounting.
5. Start off as a trainee after getting a degree from a college. Most of the companies look for an accredited college.
6. Keep looking for hiring by the major companies of the industry.
7. Update your work knowledge according to the industry standards.
   

Accountants have a decisive role in the future of a company. Budgeting and adjusting according to the current market trends is one of the analytical decisions an accountant makes. Because they are problem solvers, the company can rely on an accountant to sort out any financial problems.

About The Author

Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online ( http://www.sixsigmaonline.org ) offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.

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