Kasfia Rashid - "Money Matters with Kash the Bookkeeper"
Hello and congratulations on taking the first step in the journey of business ownership. If you're thinking of starting your own business you're in the right place. IBGR radio network is a central place for tools, resources and training that you are going to need to have a successful life long journey. Think of me as one of your many tour guides here.
My name is Kasfia Rashid but you can call me Kash. It is my job to prepare you to understand the language of business. Warren Buffett, said that accounting is the language of business! So, who better to learn from than an accountant with over 16 years worth of experience! Last season we took a journey through the five principal categories of Accounting: Assets, Liabilities, Owner’s Equity, Revenue and Expenses!
“Money matters-Ask the Bookkeeper” is all about answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy. Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up. We will follow the same path as last season with two shows on each of the main concepts of accounting and one show for each financial statement!
Show Objectives - The Why
More than 50% of small businesses fail in their first year and more than 95% of startups fail within their first five years ( Convergehub, 2019)
Why? Several reasons!
According to Smallbizgenius.net 82% of the businesses failed because of cash flow problems, that means they spend more money than they make.
In my experience the deeper reason is because they do not have anyone to steer them in the right direction. Most small business owners don’t have trusted professionals around them to ask those all important taboo business questions to. Which is why this season we are all about them Q&A’s!
Each show will consist of one main question with a few surrounding, supporting questions all surrounding the main accounting concept. To give you a sneak peek here is the lineup for seasons four.
Season 3 calendar, notes and show topics:
F1.001-1/4/21-Summary of new season: Ask the bookkeeper: Top 5!
F1.002- 1/12/21- What is a cash reconciliation and why is it needed?
F1.003-10/19/21- What is depreciation?
F1.004-10/26-21- How do I build business credit?
F1.005-11/2/21-How do I put a debt schedule together?
F1.006- 11/9/21-How do I pay myself?
F1.007-11/16/21-How do I track my personal expenses along with my business?
F1.008 -11/23/21-How do I turn my service based company into a product?
F1.009-11/30/21-How do I price my product/service?
F1.010-12/07/21-How do I account for start up costs?
F1.011 12/14/21-When should I start hiring employees?
F1.012 12/21/21-What are some ways to save on taxes?
F1.013 12/28/21- Summary of What We Achieved
Instead of spoiling the fun, in today’s summary show we are going to go over the top 5 questions I get asked as a bookkeeper – spoiler alert - none of them have anything to do with bookkeeping.
Being an accountant is like having a doctor in the family. Minor aches and pains, ailments, and random questions often get filtered to me by clients, family members, networking associates and of course friends. Scarcely a week goes by without either an email or a random text starting with “hey quick question…”
One of the reasons so many people ask me questions is because I like answering them. But just like being a specialist there are tons of general questions that come up in the operation of my business. My clients range from pre-start up to growth and the questions are often varied. Ever wanted to sit a bookkeeper down and ask them anything you wanted? Well, This show is all about the top questions I answer when I sit down with my clients.
Written by Kash the bookkeeper
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