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Cryptocurrency: how electronic money can affect accounting

Cryptocurrency: how electronic money can affect accounting

Before we had paper money, developed countries like the U.S., Canada, Japan, etc. used commodity money; finite goods with intrinsic value like gold, salt, and cocoa beans, as mediums of exchange. Even today, developing countries use commodity money as currency. In...
Leading vs. Lagging Metrics

Leading vs. Lagging Metrics

Metrics are an important tool to measure results and drive the right behaviors in a business. The best businesses utilize metrics to improve results and involve staff at all levels in the reporting of these results. However, one mistake that business owners often make...
Evaluate These 5 Internal Controls to Protect Your Business

Evaluate These 5 Internal Controls to Protect Your Business

In order to protect your business you must regularly evaluate internal controls. Doing so will ensure effectiveness and efficiency of operations and support reliable reporting. Here are five internal controls your company should evaluate: Signature Stamp Do you have a...
Top 10 Things Every Business Needs to Know About Sales Tax

Top 10 Things Every Business Needs to Know About Sales Tax

Business owners face a myriad of regulatory checklists when setting up a new venture. Before the first customer walks through the door, the new owner has already tackled seller’s permits, licensing, zoning, and registration, among other hurdles. Even after these boxes...
Employee Stock Option Plans: Considerations & Best Practices

Employee Stock Option Plans: Considerations & Best Practices

Stock options can be a great way to motivate key employees, help them feel more invested in the future of the company, and make overall compensation plans more attractive to current and prospective employees. For these reasons, it is becoming increasingly popular for...