Bud’s Blog

Important October Classes by RG Bud Phelps

Posted by R.G. "Bud" Phelps in blog, News with Comments Off on Important October Classes by RG Bud Phelps

RG Bud Phelps will be teaching two very important classes for Small Businesses (currently operating or in the wings wanting to get started). On October 14th Bud will be teaching his very popular – Practical Accounting + QuickBooks Start-Up class – ACCT-3524-CEFA Practical Accounting presented in a down to earth simple way for individual...

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New Class – The Business Plan & Beyond (October 28th 2016)

Posted by R.G. "Bud" Phelps in blog, News with Comments Off on New Class – The Business Plan & Beyond (October 28th 2016)

I am proud to announce that I will be presenting a New Business Class at Southeast Community College (Continuing Education). The title of the class is – The Business Plan & Beyond. This class will cover two major areas necessary for the development of a comprehensive business plan: the narrative and the financial plan. You […]

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Practical Accounting + QuickBooks Start-Up Business Class – October 14th 2016

Posted by R.G. "Bud" Phelps in blog, News with Comments Off on Practical Accounting + QuickBooks Start-Up Business Class – October 14th 2016

I have taught this class – Practical Accounting + QuickBooks Start-Up for several years now and it has been well received. My goal has always been to show the attendees how important it is for them to have an understanding of Practical Accounting and how the QuickBooks accounting software works for them. Practical Accounting will […]

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Practical Accounting + QuickBooks Start-up Class – Friday April 22nd

Posted by R.G. "Bud" Phelps in News with Comments Off on Practical Accounting + QuickBooks Start-up Class – Friday April 22nd

Practical Accounting Basics will be taught in the morning and QuickBooks Start-up will be in the lab for the afternoon session. Southeast Community College ACCT-3524-CESA class will be presented by RG Bud Phelps with a PowerPoint and QuickBooks Lesson guides utilized as handouts. Anyone that wants to gain a better understanding on how to navigate [...

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Birthday Gift for you – FREE downloadable Templates

Posted by R.G. "Bud" Phelps in blog, News with Comments Off on Birthday Gift for you – FREE downloadable Templates

Today is my 84th Birthday and I can proudly say that I have 60 years of experience in the field of accounting. My goal is to provide individuals in small business a network of key Practical Accounting guidelines to assist them in developing a greater understand of their company’s financial statements. An owner’s ability to […]

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The Business Plan Outline

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The act of planning your “Business Plan” helps individuals think things through thoroughly, to study and research the fact relative to starting your new business, and to look at all your ideas critically and honestly. The “Business Plan” is not just a document you have been told is necessary to develop, but a study proving [...

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How is the Company’s Liquidity Shown on the Balance Sheet?

Posted by R.G. "Bud" Phelps in blog with Comments Off on How is the Company’s Liquidity Shown on the Balance Sheet?

We need to have the Current Asset grouping and the Current Liabilities grouping from the Balance Sheet to compute the Liquid Position of the company. Current Assets 101 Cash in Bank $20,850 110 Accounts Rec $15,680 120 Inventory — $65,980 140 Prepaid Exp- $14,530 Total Current Assets $117,040 Current Liabilities 201 Accounts Pay $22,920 204 [...

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Need Help With Your Chart of Accounts?

Posted by R.G. "Bud" Phelps in blog with Comments Off on Need Help With Your Chart of Accounts?

Are your posted accounting transactions giving you the information through your Financial Statements to properly manage your company? Many small businesses haven’t attempted to customize their Chart of Accounts and therefore are not pin-pointing items that appear on their Financial Statements that would help them to have keys for better manag...

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What if you considered “Internal Controls” as (Sensors)?

Posted by R.G. "Bud" Phelps in blog with Comments Off on What if you considered “Internal Controls” as (Sensors)?

If you consider “Internal Controls” as Sensors, similar to warning lights on your car’s dashboard (such as Check Engine) you will better understand their purpose. The following is an assortment of key Sensors a small business can establish to assure that they are managing their company properly. The small business owner/manager ma...

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How Can Practical Accounting Help Me As A Small Business Owner/Manager?

Posted by R.G. "Bud" Phelps in blog with Comments Off on How Can Practical Accounting Help Me As A Small Business Owner/Manager?

Following the principles of Practical Accounting illuminates what has happened economically to a small business for its Owner/Manager. When the small business Owners/Managers gives due diligence in the establishment of their Chart of Accounts this will create accounting pathways meaningful to their specific business. The Owner/Manager shouldn’...

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