Meeting Investors Coalition and Colonists Consortium - Part 2


1	Meeting: Investors Coalition and Colonists Consortium -- Part II
2
3	Note: The Blue Canoe pronunciation browser extension should work for you on this page.
4
5	Moderator:	Welcome back. I hope you all had a good lunch.
6		Colonist Bill is a Certified Public Accountant and the founder of "A Balanced Universe Accounting, Inc." This is a public accounting firm which has an outstanding, 30-year record on Earth and on other planets and will be availble to provide bookkeeping and accounting services on Planet JL2746.
7		Several of you have already talked with him and engaged his firm.
8		But I understand that many more of you are interested and have questions.
9		So I am giving him a few minutes to answer them.
10	Accountant Bill:	Thank you.
11		We are delighted to have been approved by the the Investors Coalition and the Colonists Consortium to establish a branch on JL2746.
12		At this point in life, I have turned most of the running of the company over to my children and will, myself, be heading up the branch on JL2746.
13		We can customize our accounting services to any size of company, including the smallest.
14		Or If your company grows larger, as we hope it does over the coming years, you can outsource some bookkeeping tasks to us rather than having to hire more employees from Earth. We are very flexible.
15		You have already received the booklet describing the JL2746 branch. What questions do you have?
16	Colonist Amy:	What about personal income taxes? Do you do those too?
17	Accountant Bill:	Absolutely! On most planets, the answer would be “No”. But our branch on JL2746 is designed specifically to serve the needs of the colony: individuals as well as companies.
18		It’s very similar to the first office I opened, decades ago, on BV1839.
19	Colonist Steve:	As a sole proprietor am I a business or an indvidual?
20	Accountant Bill:	Well, you will simply report any business income or loss on your personal tax return. You do not need to file a separate return for the business.
21		However, if you wish, we can set you up with a simple set of books for your business.
22		We can generate a monthly balance sheet, income statement and cash flow statement to help you keep track of your enterprise. You will do better if you receive aging summaries and monitor your accounts payable and your accounts receivable.
23		And then there will also be less work for you at tax time.
24	Colonist John:	How hard is it to learn bookkeping and learn your software?
25	Accountant Bill:	We think our software is the easiest to learn in the galaxy. But It depends on whether you need books kept on a cash basis or an accrual basis and whether your accounting system needs to be single entry or double entry.
26		In order to have an accurate picture of their finances, most companies need double-entry books kept on an accrual basis. We can teach you how to do financial analysis.
27		However if you have a very simple business which functions well on a cash basis, we may be able to set up a single-entry system which keeps track of the bare essentials and can be learned in a day.
28		Either way, for Planet JL2746 we are prepared to do a lot of free training and tech support for our customers. The Investors' Coaltion is subsidizing our training services because they want the colonists to succeed in their various businesses.
29	Colonist Stephanie:	Your annual package for individual proprietors sounds great and the price is quite reasonable.
30		But would I have to pay it all up-front?
31	Accountant Bill:	No. We bill it monthly and if you start mid-year we pro-rate the payments from the start date.
32	Moderator:	Are there any more questions? No? Then let’s move on to the next subject for the meeting.
33
34
35		© Copyright 2022, Margaret R. Jones
36
37		This dialog was inspired by, and some of the vocabulary comes from, the YouTube video "A Day In The Life of An Accountant!" by Bill The Financial Controller.
38
39		GAAP Explained With Examples \| Mapping Income Statement Lines to GAAP
40		By Bill The Financial Controller
41
42		US GAAP Principles Mapped To The Balance Sheet Accounts. Fully Explained!
43		By Bill The Financial Controller
44
45		Bob The Canadian Discusses Banking
46
47		How to Read ANY Number in English! by Jack's English
48
49		How to Say Big Numbers in English By Mad English TV