Stephenson Thorner Blog

Understanding Business Accounting

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Many people today crave the independence that comes with starting their own business. Going into business for yourself is a pursuit of passion and often begins with an idea, relentless determination and a scrupulous work ethic. New Zealand is ranked as the easiest place in the world to start a business and is ranked third, second only to Singapore and Hong Kong, for ease of doing business. Ninety seven per cent of enterprises in New Zealand are small businesses.

In Wellington, the capital city of New Zealand and second most populous urban area, there are over fifty one thousand businesses: a whopping ten percent of all New Zealand businesses. However, even with such prime conditions, most budding business owners struggle with the endless number-crunching that comes with operating a business.

Cash flow is the lifeblood of a business and it is crucial to be fastidious in your bookkeeping to protect your investment. It is not, as some as some may think, enough to know how much your business made in a year. Let’s take a look at the often misunderstood world of Business Accounting.

To understanding the Basics of Business Accounting, you must consider three things:

If you are a business owner in Wellington the question then becomes how to choose a qualified and experienced local chartered accountant.

Find a quality Wellington accountant using the following guidelines:

Stephenson Thorner chartered accountants aim to provide all of the above qualities, making them an excellent accounting choice for businesses related to the creative industries. Experience a more holistic approach to your finances through the experienced accountants at Stephenson Thorner. Visit http://www.stephensonthorner.co.nz/ for more information.

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