Small Business Saturday: The Antithesis Of Black Friday

American consumers know all too much of the annual madness that is Black Friday. Door buster specials, limited-time offers, and the price-driven deals draw masses of people to big retailers. We have seen it on television for many years now: the doors open at stores such as Wal*Mart, Target, and Best Buy, and a stampede of bargain hunters storm through the doors.

According to the National Retail Federation, holiday sales this season are projected to increase 3.7 percent to $630.5 billion…. http://ow.ly/V1E8k http://ow.ly/i/eImR6

Understanding Accounting and Black Friday

Every year people in America rush to retail stores the day after Thanksgiving in order to pick up the season’s hottest items on sale. Christmas shopping has begun and this favorite day is known as ‘Black Friday.’

Many retailers did not approve of the term Black Friday being used for this day because they felt it was negative. A different theory started circulating in the early ’80s that retailers had no financial gain from the first month of the year, January, through the eleventh month of the year, November but their gain came from Black Friday to the holiday season. As this was recorded using accounting practices, red ink would be used to show amounts in the negative whereas black ink would be used to show amounts in the positive. theory. http://ow.ly/V1Erm http://ow.ly/i/eInaV