Branding: yes, you need a brand
First, branding is a key defense against: Commoditization – a situation in which a company’s products and services become perceived by buyers as being interchangeable…
Branding: yes, you need a brand
Brand Building
Branding – or “brand-building” – has become the El Dorado of corporate marketing departments, advertising agencies, design firms, and consultants. However, branding goes beyond an…
Business entity convention
The accountant keeps all of the business transactions of a sole proprietorship separate from the business owner’s personal transactions. For legal purposes, a sole proprietorship…
Going concern convention
This accounting principle assumes that a company will continue to exist long enough to carry out its objectives and commitments and will not liquidate in…
Accounting period convention
Accounting data should be recorded over a definable period of time. The usual period is one year, called the financial year, ending on June 30…
Measurement of monetary units—stable dollar convention
Economic activity is measured in dollars, and only transactions that can be expressed in dollars are recorded. Because of this basic accounting principle, it is…
Accounting principles
An accounting principle is a belief that certain doctrines are desirable and should be followed by members of the accounting profession. In contrast to a…
Accounting equation
Assets = liabilities + net worth. The financial statement called the balance sheet is based on the “accounting equation.” Note that assets are on the…
Accounting elements
Although the content, presentation, and basis of accounting may vary according to the reporting requirements of Statement, the basic elements of the financial statements remain…
Accounting and Accounting information
The primary objective of accounting is to provide information that is useful for decision-making purposes. The final product of accounting information is the decision that…