January 1, 2010 | By Incuba8 |
Michael Zimmerman is a Principal at Yeo & Yeo, CPAs & Business Consultants, in Midland. He leads the firm’s Computer Accounting Solutions team and is a member of the Construction and Tax teams. His expertise is in tax planning and preparation, management consulting for small businesses, and consulting for personal computer support services. He has 23 years of public accounting experience.
Mr. Zimmerman is a member of the American Institute of CPAs, Michigan Association of CPAs, and the Home Builders Association of Midland, and serves as a board member for the Northeastern Michigan Estate Planning Council. He has conducted seminars on income taxes and small business accounting software.
He serves the Midland community as president of the Literacy Council of Midland County, a member of the Leadership Midland Alumni Association, and past president of the Midland Jaycees.
Presentation: Accounting Setup for Startups
Most operators of a new and growing business have a flair for the environment in which the business operates. They may be a great salesperson, an outstanding mechanic, carpenter, lawyer, or inventor. Unfortunately most people don’t like to keep the books. As an owner of a business you must remember that your company’s books and financial statements represent a score sheet which tells how you are progressing, as well as an early warning system which lets you know when and why the business may be going amiss. Financial statements and the underlying records will provide the basis for many decisions made by outsiders such as banks, landlords, potential investors, and trade creditors as well as taxing authorities and other governing bodies. The necessity for good, well-organized financial records cannot be over-emphasized. One of the greatest mistakes made by owners of small businesses is not keeping good financial records and making improper or poor business decisions based on inadequate information. An accounting or bookkeeping system is like any tool used in your business; it needs to be sophisticated enough to provide the information you need to run your business and simple enough for you to run it (or supervise the bookkeeper). We will guide you through the basics and also share information on accounting software that is easy to use for a new business.