Structuring Your Business
In This Chapter
• Counting cash
• Recording accruals
• Making a choice
• Satisfying the IRS
• Marking time
Have you heard this classic accounting joke?
Question: What’s the definition of an accountant?
Answer: Someone who solves a problem you didn’t know you had in a way you don’t understand.
That is how many people think of accounting—a necessary evil to satisfy banks or other financial institutions, shareholders, and the Internal Revenue Service (IRS). As you take this journey into the depths of accounting, you learn why accounting is so much more than that and how it can help you make key business decisions. But before you can start learning about accounting’s usefulness, you need to make some important ...