Archive for January, 2012
101: Statement of Cash Flows Part I
Now that we have completed our guides to understanding your company’s balance sheet (Part I and Part II) and income statement (Part I and Part II), it is time to turn our attention to the third and final of the major financial statements, the statement of cash flows. Like the income statement, the statement of [...]
Posted by Gregg Schoenberg on Tuesday, January 31st, 2012Posted in 101, Finance and Economics
Tags: Finance and Economics
State of Delaware Franchise Tax Calculations
When you have a company incorporated in the State of Delaware, there is an obligation to pay an annual franchise tax fee. All non-profit and stock corporations owe the franchise tax fee by March 1 of each year. Limited Liability Companies (LLCs) pay by June 1st. A non-profit company does not pay a franchise tax [...]
Posted by Amy Fountain on Monday, January 30th, 2012Posted in Delaware, Franchise Tax
Tags: Delaware, Franchise Tax
A New Space for the New Year
When the time comes to remodel your business’s office space, or to move into a new space, it is easy to think of the process solely in terms of cost. After all, no matter how nice a conference table or how attractive a desk you purchase, it is hard to imagine them adding anything to [...]
Posted by Gregg Schoenberg on Wednesday, January 25th, 2012Posted in Human Resources
Tags: Human Resources
Phishing Email Trap using the Better Business Bureau
Reputable businesses, including Harvard Business Services, are proud of their well-earned ranking of A+ with the Better Business Bureau. If and when they receive an email involving what appears to be a complaint about their practices from the BBB, it would seem to make sense to open it and see what the problem could be. [...]
Posted by Brett Melson on Tuesday, January 24th, 2012Posted in HBS Announcements
Tags: HBS Announcements
101: Income Statement Part II
ABC Corp. Income Statement Dec. 31, 2010 Total Revenue $150,000 Cost of Goods Sold (COGS) $60,000 Gross Profit $90,000 Operating Expenses Research & Development (R&D) $5,000 Selling, General and Administrative Expenses (SG&A) $45,000 Operating Income Earnings Before Interest & Taxes (EBIT) $40,000 Interest Expense $5,000 Taxes (30%) $12,000 Net Income $23,000 In our [...]
Posted by Gregg Schoenberg on Monday, January 23rd, 2012Posted in 101, Finance and Economics
Tags: 101, Finance and Economics
Let’s Do Some Firing
Do you have an employee that just does not contribute? Do you ever wonder what the heck is this person doing here? Do you get negative feedback from employees or customers? You muse, ‘they have only been there a few months’ so we should give ‘em a shot. Or you think you can’t get rid [...]
Posted by Matt Cholerton on Wednesday, January 18th, 2012Posted in Human Resources
Tags: Human Resources
101: Income Statement Part I
We recently wrapped up our two-part piece on balance sheets, and today we are going to move on and start taking a look at the next financial statement on our list, the income statement, also called a “profit and Loss Statement”. Unlike the balance sheet, which looks at a company’s financial position at a specific [...]
Posted by Gregg Schoenberg on Tuesday, January 17th, 2012Posted in 101, Finance and Economics
Tags: 101, Finance and Economics
Q & A: Certificate of Incorporation
What is required to file a Delaware corporation and what information is listed on the initial Certificate of Incorporation? This posting will spell out these requirements, and will show that very limited information is made public as a result of filing the Certificate of Incorporation. This Blog refers specifically to the Delaware CORPORATION. This information is [...]
Posted by Brett Melson on Monday, January 16th, 2012Posted in Delaware, INC Knowledge, Q&A
Tags: Delaware, INC Knowledge, Incorporating, Question and Answer
101: Balance Sheets Part II
Assets Dec. 31, 2010 Liabilities & Equity Dec. 31, 2010 Cash $12,000 Accounts payable $6,000 Accounts receivable $13,000 Notes payable $4,000 Inventory $10,000 Accrued payroll $8,000 Total current assets $35,000 Total current liabilities $18,000 Long-term debt $20,000 Fixed assets $15,000 Total liabilities $38,000 Common stock $10,000 Retained earnings $2,000 Total common equity $12,000 Total [...]
Posted by Gregg Schoenberg on Wednesday, January 11th, 2012Posted in 101, Finance and Economics
Tags: 101, Finance and Economics
101: Balance Sheets Part I
With this blog we are going to begin a multi-part series in which we explore, explain, and hopefully enlighten our readers about the often-confusing world of financial statements. We’ll be looking at the three most common statements—the balance sheet, the income statement, and the statement of cash flows—and trying to give you an understanding of [...]
Posted by Gregg Schoenberg on Tuesday, January 10th, 2012Posted in 101, Finance and Economics
Tags: 101, Finance and Economics
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