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John Day Articles

Written by: John Day

Non-Profit Organizations: What Are They? - Click To Read Article
A brief discussion regarding the nature of non-profit organizations and how their accounting is organized.

Valuing Goodwill: A Pig-in-a-Poke? - Click To Read Article
This article discusses what goodwill is, how it is valued and gives an example of how it is applied in a certain case.

Internal Control: A Preventive Maintenance Program - Click To Read Article
A discussion of what “internal control” is, why it is important and some suggestions as to used internal control procedures when handling cash.

The Bank Reconciliation: Your Most Important Navigational Tool - Click To Read Article
A discussion as to why the bank reconciliation is the heart of your business bookkeeping and how it serves as an important tool in monitoring cash.

The Accounting Model: Accounting's Rosetta Stone - Click To Read Article
A brief but clear explanation of how debits and credits work.

The General Journal: Your Most Versatile Accounting Tool - Click To Read Article
A brief explanation of what a general journal entry is and how it used in the bookkeeping process.

Understanding the Bottom Line - Click To Read Article
What’s there to understand? The bottom line is the last line on the Profit & Loss (P&L) statement and it is either a profit or a loss. That’s all you need to know, isn’t it? Yes, it is important to know whether you are making a profit or losing money, but understanding how financial statements work is knowing the nature of each account and how it fits into the scheme of things. This article provides a broader understanding of the bottom line.

Working With Accounts Receivable - Click To Read Article
A brief explanation of the mechanics of how the accounting of an accounts receivable systems works.

CPAs vs. Non-Certified Accountants: Clearing up the confusion - Click To Read Article
A discussion about the difference between CPAs and non-certified accountants in terms of their educational background and services they can or cannot perform for the public.

Double-Entry Accounting: A Place to Start - Click To Read Article
A brief explanation of double-entry accounting and the framework upon which it is based.

APPLYING FOR A BUSINESS LOAN: PUTTING YOUR BEST FOOT FORWARD - Click To Read Article
Some tips on how to prepare properly before sitting down with a loan officer at the bank. Understanding what criteria the loan officer will be looking for.

ACCOUNTING PRINCIPLES & STANDARDS: AVOID THEM AT YOUR PERIL - Click To Read Article
Accounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements. This article discusses the difference between principles and standards and why they are important.

ACCOUNTING POLICE: DO THEY EXIST? - Click To Read Article
Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules. There is, up to a point, and this article discusses how it works:





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