Most business owners aren’t careless with money. They obsess over profit margins and expenses, and carefully analyse their bank balances. Over time, however, many people fall for accounting myths that sound like common sense. These myths crop up in meetings, tax chats, and casual conversations – and they stick. The problem is, some of these ideas distort the way you see your business. They can make you feel more profitable than you are, hide looming cash problems, or cause you to delay decisions until it’s too late. Busting these myths won’t only sharpen your numbers – it might unlock the growth that’s been out of reach for too long. “Depreciation is just a paper loss” Depreciation is often described as being a “non-cash” expense, which leads some to think it’s not a real cost. But depreciation is very real. It reflects the wear and tear on your assets, equipment, vehicles, and even your office fittings. (Buildings tend to be an exception to this rule.) Like it or not, that slow ...