When an Accountant is involved in start ups it is an area where there is uncertainty and a certain amount of guesswork. Quite often the skills of the orthodox accountant are stretched as the requirement for alternative ways of reporting become more demanding.
The Accountant should not abandon his traditional cautious approach and should be mindful of the four fundamental concepts, but at the same time accomodating the Entrepreneurial mindset that start ups demand. This is a difficult balancing act.
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