Fibrick Financial Services is hosting a Small Business Series which is a series of workshops on assorted topics that are important to entrepreneurs and small business owners.
Download our tax readiness checklist which will help you track the documents you need to gather before heading to see your accountant!
Are there NetSuite ERP features you’ve wanted to leverage but don’t have the expertise to do so? Join FiBrick Financial Services at our FREE NetSuite showcase event where you will have the opportunity to network with other NetSuite users and attend one of the following three breakout sessions:
By Ramona Cedeno, founder of Fibrick Financial Services
I will forever say that accounting is the best profession in the world and I am grateful to be a part of it. Some will think I’m exaggerating, but I get up every morning looking forward to the next accounting puzzle I will solve that day.
I was born in what was at the time a lightly populated area of the Dominican Republic called Veron (although for many years I thought it was called Beron), a small community in the resort town of Punta Cana. We had no roads and few neighbors, so my childhood was full of pretend games with my three sisters; our favorite was “grocery shopping.” One of us owned the grocery store and the others played housewives who had to do the shopping. By the time I was 7 years old, other people had moved to the area, roads had been built, and the first resort had opened at the nearest beach. We still had no local electricity (the resort had its own generator), but we had a battery-operated, stick antenna television, which allowed us to watch the soap operas and cartoons from the Puerto Rican network.
This month I had the pleasure of being featured in Baruch College’s Entrepreneur spotlight, speaking about my transition from the corporate world to the start up world. As a fellow alumni (go Bearcats!), I’m happy to share my story so far and hopefully inspire others to pursue their dreams.
Check out the article here.
Don’t you love the idea of being able to go to a single document to quickly see where your money is going? I know you are probably thinking, “There’s no way I want to see how much money I’m spending, let alone see that my income does not cover my expenses!” But trust me, preparing and analyzing your personal income statement at least once a month will give you visibility into expenses that are more wants than needs. It will also open your eyes to the fact that maybe this is not the right time to lease that nice car on your wish-list.
I began preparing my personal income statement when I was 19. Since then, I have played with multiple versions and although I’m not sure I have mastered the skill of staying within my personal budget, I sure know where my money goes and where it should not.
Here are my 5 quick and easy steps to preparing a personal income statement and use it effectively.
If you are looking forward to taking some time off during the holidays, you will probably be concerned with the long list of tasks you need to complete before and after your vacation, such as those related to the year-end close. Your ability to enjoy that time off might also be tainted by the fact that you’re worrying about work to-dos. In my career as an accounting professional, I have always been involved in the year-end close, yet managed to stay away from the office during the holidays. Before asking for the days off, I refined what I thought was the perfect plan to ensure the year-end close would not fall apart. But, it wasn’t only about convincing my boss that I had everything under control, it was more about my peace of mind. I did not want to be at the dinner table with my family having a conversation about my employer’s external audit team, or the massive data I had to work with to reconcile the accrued expenses account. I wanted to leave the office around December 20th and not have to think about it until January 3rd. Here is my perfect plan for accomplishing my mission: