by edbarton | Feb 3, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals Measuring profits or net income is the essential thing accountants do. The second most important task is measuring costs. Costs are significant to running a business, and managing them effectively can make a...
by edbarton | Feb 3, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals Financial statements are the backbone of a complete financial report. A financial report is incomplete if the three primary financial statements are not included. But a financial report is much more than just...
by edbarton | Feb 1, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals An accountant will refer to and use six basic types of costs to analyze your real estate business. Direct costs can be directly attributed to a product or product line, one source of sales revenue, or one...
by edbarton | Feb 1, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals While many businesses assume that generally accepted accounting practices and inviolate bind accountants, nothing could be further from the truth. Everything is subject to interpretation, and GAAP is no...
by edbarton | Feb 1, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals Budgeting is one of those topics we’d rather avoid, but in real estate, it’s an absolute necessity. To prepare a reasoned and thoughtful budget, an accountant must start with a broad-based critical...
by edbarton | Feb 1, 2022 | Accounting Basics
Basic Accounting Principles for Real Estate Professionals Most real estate agents operate as a sole proprietorship. This business structure has some significant pros and cons. A sole proprietorship is the business or an individual who has decided not to carry his...
