One thing that I find very striking when I look at my Client's financial statements is that many of them do not understand Accounting very well. This can be very dangerous to your businesses' health.
Most Accounting problems do not happen overnight - there is usually a warning period so if you have a basic understanding of Accounting, you can be alerted to a deteriorating situation and take corrective action. Also, the better that you understand Accounting, the more likely it will be that your financials will be free from major errors.
To help you get a better understanding of Accounting, I have recorded the following short video
on Basic Accounting and debits and credits. While there is a limit as to what can be taught in less
than 5 minutes, hopefully, it will give you a better understanding of your financials.
To watch the video, please click on the following link:
http://www.screencast.com/users/dennislt/folders/Jing/media/d8682c28-4b31-427e-999a-be87b1cc5086
Monday, June 8, 2009
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