• Small Business Finance

    10 Reasons You Should Hire a Bookkeeper for Your Small Business

    Consider a scenario where your startup is on its way from idea to formal business. There are many, many things to think about and consider. And one of them may just include that all-important decision of when to bring in outside experts to assist you with some of the operational functions that go into running a business. Those functions almost certainly include the financial aspect of your business. While you may not need — or want — an accountant, you could at least consider a bookkeeper to help with the various financial aspects. Your only other alternative is to become a bookkeeper yourself so that you understand every aspect of your business! And that’s just not realistic. So, returning…

  • Fraud

    FRAUD IN SMALL BUSINESSES EXACERBATED BY SIZE

    ABSTRACT Over half of the US workforce is employed by a small business. These small businesses also account for 46 percent of non-farm GDP. Despite their contribution to employment and the economy, little about them is covered in college level accounting and business courses. Most material covers accounting for midsize to large corporations. In this paper, I will highlight how vulnerable small businesses are to fraud due to impracticalities of implementing separation of duties and steps they can take to mitigate fraud.   INTRODUCTION Small businesses, those with 500 employees or less comprise of 99.7 percent of employer firms and 42 percent of private sector payroll (Bureau of Labor Statistics,…