CPA Practice

OCTOBER 31, 2024

By Jim Wesloh Navigating the challenging landscape of cost accounting within the framework of federal contracting requires an understanding of both the Federal Acquisition Regulation (FAR) and Generally Accepted Accounting Principles (GAAP).

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ThomsonReuters

APRIL 18, 2023

To help ensure that financial reporting is transparent and investors have the most accurate and timely information they need to make informed investment decisions, public companies must disclose certain financial, and other information, to investors. What are the GAAP standards? What are the differences between GAAP and IFRS?

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ThomsonReuters

SEPTEMBER 2, 2021

To make things more complicated, most accounting departments use Generally Accepted Accounting Principles (GAAP) to calculate their financial position. GAAP procedures differ in important ways from income tax accounting rules. Calculate the current year’s temporary differences. Handling a large volume of data.

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Withum

FEBRUARY 1, 2023

However, prepackaged food is still limited to 50% and entertainment is still non-deductible. Lease Accounting – ASC 842 Considerations The FASB Accounting Standard update for ASC 842 (leases) is effective for fiscal years beginning after December 15, 2021, or calendar year December 31, 2022.

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Ryan Lazanis

JUNE 8, 2023

3) Improve Skills Accounting forums act as knowledge exchange hubs, where members are welcome to ask others how to become more effective in tackling various processes. Realize’s community is somewhat equally divided between individuals managing accounting practices and those overseeing tax practices.

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ThomsonReuters

APRIL 18, 2023

Misapplication of GAAP standards For today’s accounting professionals, and all of those involved in financial reporting, p reparing financial statements that are in compliance with generally accepted accounting principles (GAAP) is essential. Therefore, cash flow statements must be accurate.

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