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    • Home
    • MJ
    • Mission
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    • Accounting
    • Bookkeeping
    • Income Taxes
  • Home
  • MJ
  • Mission
  • Pricing
  • Accounting
  • Bookkeeping
  • Income Taxes

ACCOUNTING

Introduction

Check out this great video

DEFINITIONS

Accounting

 Accounting involves analyzing, interpreting, and summarizing financial data recorded by bookkeepers to create insights and financial reports. Accountants prepare financial statements, conduct audits, file taxes, and provide strategic financial advice based on the data. 

Accounting Principles

 

The standardized guidelines that govern financial reporting and ensure consistency, transparency, and comparability in financial statements. These principles provide a foundation for accountants to follow when preparing and presenting financial information. 

GAAP (Generally Accepted Accounting Principles)

Accounting standards, principles, and procedures that companies in the United States must follow when preparing financial statements. GAAP provides consistency, transparency, and comparability, which helps investors, regulators, and other stakeholders make informed decisions. 

FINANCIAL STATEMENTS

The formal records of a company's financial activities and position over a specific period. They provide a summary of the financial health of an organization, helping stakeholders like investors, creditors, and management make informed decisions. There are four primary financial statements, each serving a unique purpose: 


  1.  Income Statement 
  2.  Balance Sheet 
  3.  Statement of Cash Flows 
  4.  Statement of Changes in Equity 

 

 Together, these financial statements give a comprehensive view of a company's financial performance, cash flows, and overall stability. 

Fund Accounting

A specialized system of accounting used primarily by non-profit organizations, government entities, and other organizations that aim to track and manage resources allocated for specific purposes. Unlike for-profit accounting, which focuses on profitability, fund accounting emphasizes accountability and stewardship of funds. 

FASB ( Financial Accounting Standards Board)

 a private, independent organization in the United States responsible for establishing and improving accounting standards known as Generally Accepted Accounting Principles (GAAP). Its mission is to ensure financial reporting provides useful, transparent, and comparable information to investors, creditors, and other 

Accounting Services

Financial Statements

We provide accurate and timely financial statements to help you make informed business decisions. Our team of experts use the latest software and technology to ensure your financial statements are up-to-date.

Financial Planning and Analysis

Effective financial planning is crucial for the success of any business. At J Christian Inc, we provide financial planning and analysis services that help you understand your financial position and make sound decisions. Our experts work closely with you to create budgets, forecasts, and financial strategies that align with your long-term objectives.

Business Formation

We offer business formation services to help you start your own business. Our team of experts can assist you with everything from choosing the right business structure to registering your business with the government.

Small Business Consulting

Starting or running a small business can be challenging. At J Christian Inc., we provide consulting services specifically tailored for small businesses. Our experienced consultants will assist you in developing strategies for growth, optimizing your operations, and ensuring financial stability. Let us help you navigate the complexities of running a successful business.

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