Question: What are the three most important characteristics of a small
What are the three most important characteristics of a small business computer accounting system? Why do you think these are the most important?
Answer to relevant QuestionsWhat are the three most important functions (think cash, accounts payable, owners' equity, etc.) that a computerized accounting system should have? Why are they the most important? Is there any advantage to making a series of budget schedules, rather than just producing a pro forma income statement and balance sheet? What are the advantages, if any? How does using the float as a cash management method differ from deliberately writing NSF checks? In what ways do the “4-C's” for borrowing differ from the requirements to be able to obtain equity capital? In what ways does accepting outside investment change the ways you manage your business?
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