Oli Paterson

Basic Financial Accounting for Small Business: Part 4 – Advanced Adjusting Entries and Year-End Procedures

Welcome back to our financial accounting series for small businesses! Following our previous discussions on recording transactions and balancing the books, this post will delve into the more advanced topics of adjusting entries and year-end procedures. Delving into Adjusting Entries The Necessity of Adjusting Entries in Accurate Financial Reporting Adjusting entries are a cornerstone of… Continue reading Basic Financial Accounting for Small Business: Part 4 – Advanced Adjusting Entries and Year-End Procedures

Basic Financial Accounting for Small Business: Part 3 – Recording Transactions and Balancing the Books

Welcome back to our series on financial accounting for small businesses! In our last post, we explored analyzing financial health through comparative financial data. Today, we’re diving into the heart of accounting – recording transactions and balancing the books. Recording Transactions: The Foundation of Financial Accounting Understanding the Accounting Equation Every transaction in business affects… Continue reading Basic Financial Accounting for Small Business: Part 3 – Recording Transactions and Balancing the Books

Basic Financial Accounting for Small Business: Part 2 – Analyzing Financial Health

Welcome back to our financial accounting series designed for small business owners! In our previous post, we covered the basics of financial statements and the three modes of business. Building on that foundation, this installment delves deeper into understanding and analyzing your business’s financial health. Understanding Comparative Financial Data The Importance of Comparative Analysis Comparative… Continue reading Basic Financial Accounting for Small Business: Part 2 – Analyzing Financial Health

Basic Financial Accounting for Small Business: Part 1 – Financial Statements & The Three Modes of Business

Starting and managing a small business is no small feat. It involves making countless decisions, many of which hinge on having accurate financial information. Understanding financial accounting is not just for accountants; it’s a skill crucial for any small business owner.

What Happens to Small Businesses in a Recession

Small business recession

Introduction For small business owners, a recession can be the beginning of a long slog. From shifting consumer behaviours to tightening credit markets and regulatory overhauls, the impact of a recession is multi-faceted and often tricky to navigate. Drawing on academic research papers by Sahin et al. (2010), Berkowitz and White (2004), Dennis (2011), and… Continue reading What Happens to Small Businesses in a Recession

Enhancing Employee Happiness: Building a Consistently Positive Workplace Culture

Happiness in the workplace is about caring, engagement and consistency. Small business is at an advantage in this pursuit. Let’s explore why.

4 Key Factors for Success in Service Business

Service businesses face unique challenges that require effective strategies. To thrive in this landscape, businesses must align four essential components: Service offering, funding mechanism, employee management, and customer management. (Frei, 2008)