Accounting for Small Business - E-book - ePub

In the USA most businesses in operation are made up ofmicro and small businesses and are therefore of vitalimportance to the country's economy. These companies arelarge generating jobs and wealth, which contributes significantlyto the increase in gross domestic product - GDP. But one factor that has been extensively studied is the fact thatthey do not count with an efficient management system, whichoften leads to death in the first years of life.
Often throughignorance or lack of advice from their accountants, smallbusiness owners fail to benefit from the information generatedby the accounting that may be useful in business management. They begin to make decisions based solely on experience andwho believe they have most often the results fall short ofexpectations. Accounting is a science whose primary function is to providereliable information for decisions to be taken with the utmostsecurity.
The information and data provided by accountingrepresent management tools that will support and support willdecision-making and should be part of routine business, orprovide support at all stages of the company. Many of theseaccounting controls are relatively easy to elaborate, and can beeasily applied in the management of micro and smallenterprises, especially those of retail trade, regardless of size.