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College of Business and Economics News

JoAnn Wood, Accountancy Adjunct Faculty, Quoted in IBR

JoAnn Wood, an adjunct instructor for the Department of Accountancy, was quoted in an article in the Idaho Business Review. The article is about the importance of keeping personal and business finances separate. Twenty-seven percent of small businesses use one checking account.

“If you have separate accounts, any tax accountant can go back through and easily separate out revenue and expenses from a bank statement,” said Wood. “If you go to a tax accountant and they start asking questions, you have start digging through every transaction you’ve made if they’re in the same account.”

Read the article “Accountants: Maintain work/life balance in your bank accounts” (subscription required).

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