Tuesday, March 22, 2005

A Vow to Learn Accounting and Finance

It's been awhile! I've been really busy organizing our office's Admin. I am now surrendering and opening myself into learning DETAILS and PROCEDURES involving finances, taxes (all kinds of taxes imposed on our company!), income statements, etc, etc!

From now on, I will not just sign payments my accountant presents. I will always have the time to ask 'why'. I have to know what each tax means, and how it is computed and where an amount is derived. I have to have time to CLOSELY analyze income statements, determine where the company has been overspending, and find out in which areas we can cut costs.

I am involving myself directly and will have the command in organizing the filing systems. I will have a hands on training with Admin work. I have to know EVERY ASPECT of the business, and not just the creative side of it. That was my mistake during our first business year. I am hanging on because I am doing what I love -- and I thought I could get away with the left brain and logical stuff. :)

To be an entrepreneur also means having knowledge with accounting and finance, not just being skilled and innovative with your interest and line of business.

I am still in the process of improving our business system. I am awaiting for the time when it can run by itself and grow even when I am not physically there!

I truly have learned a lot, and I am still learning! It's a never ending process and I truly enjoy it!