Here is one that is so important to the continued health of a growing company that it cannot be overstated. It’s a bit complex for novices. But hang in there as I explain a bit about accounting classification of assets and liabilities. Differences between types of assets and liabilities First, let’s be sure we know […] The post Here’s a Rule for Companies with Outstanding Loans appeared first on SmallBizClub.
Posts published in “Assets”
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The Problem: Often business owners want to segregate valuable assets from potential adverse liabilities generated in the operation of a business. For example, a bakery will likely own: (1) equipment used in its operations; (2) the factory building; and (3) a fleet of delivery trucks and vehicles. If all of these are owned by the […] The post Reduce Risk by Segregating Assets in a New Entity appeared first on SmallBizClub.