Peter Bakker, a major player in the accounting world, said accountants will save the world by ensuring corporate reporting reveals how a company makes its money — not just how much money it makes. Is this a new era, where more than the bottom line is measured?

According to the U.S. Small Business Administration, poor accounting practices are responsible for half of those businesses that fold within the first five years of operation. That is an amazing statistic.

According to the U.S. Small Business Administration, poor accounting practices are responsible for half of the businesses that fold within the first five years of operation. That is an amazing statistic.

There’s a new way to do accounting! The system known as the Financial Reporting Framework for Small and Medium-Sized Entities is voluntary and apparently more efficient. Will it work for your business? Check it out.