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Accounting 101 Series Helps Entrepreneurs Learn the Basics

This morning, Minnesota Cup hosted its second 101 Series event. Entrepreneurs and local business leaders came to glean knowledge on the topic of accounting from some of the experts in the field as well as a seasoned entrepreneur. Held at the Carlson School of Management, the event helped listeners understand why accounting is the language of business.

The 101 Series is a string of free events hosted by the Minnesota Cup to help entrepreneurs learn more about the core business functions and how they can be applied to startups. Next up for the series is Financing 101 on Friday, March 14.

The event started out with an introduction from Jim Schmidt of Eide Bailly who spoke about the dream of starting up a business verse the reality of how much time and energy the process entails.

Next up was Brad Theisen of Eide Bailly who provided great information about entity selection and choosing what is best for your company. Depending on whether the business is an LLC, a partnership or a corporation, there will be different tax implications that will apply for each.

After learning about entity selection and sales tax, Kevin Besikof of Lurie Besikof Lapidus & Company spoke about the tools available for entrepreneurs through the cloud that will help to keep track of expenses and taxes. Kevin concluded by telling the audience never to forget your CPA.

Last to speak was Ken Schultz who has a history of starting businesses. His advice to entrepreneurs was to get your accountant involved in your business more than once a year.

A big thank you to Jim Schmidt, Brad Theisen, Kevin Besikof and Ken Schultz for their insight into the world of accounting!

If you were not able to attend the event but would like more information please see the link below:

MN Cup Accounting Presentations

Pictured Below: Jim Schmidt of Eide Bailly

Pictured Below: Brad Theisen of Eide Bailly

Pictured Below: Kevin Besikof of Lurie Besikof Lapidus & Company

Pictured Below: Kevin Besikof, Brad Theisen & Jim Schmidt
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