Re: At the end of my teather with LSMB

["Chris Travers" <..hidden..>]

One important point here which gets lost: Accounting knowledge is
vital to running a business.

I don't care what accounting system you get, you really want to have
an accountant you can ask accounting questions to.  The reason is that
no system is going to meet everyone's needs properly and you can
always find plenty of ways to shoot yourself in the foot!  It is also
a good idea, if you are running a business to learn a thing or two
about accounting (basic principles and the like).  Garage sales are a
great place to get used accounting textbooks....

The basic reasons for the above advice are:

1)  If you don't have someone to ask questions to, then you are really
committing yourself to learning all of the accounting details on your
own (and while generally accepted accounting principles may be largely
uniform world-wide, accepted practices based on those principles can
vary).

2)  If you are running a business and you know nothing about
accounting, then you are opening yourself up to a number of possible
problems.  These include embezzlement by employees, an inability to
gather the information you need to make good business choices, and any
number of other problems.  As the business owner, if you want your
business to be successful, this is a field you need to have a basic
grounding in.  You don't need to know every detail (that is why you
hire an accountant), but you do need  basic grounding in accounting
principles and basic practices.

Best Wishes,
Chris Travers