inDinero Accounting

JUNE 29, 2023

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. What are Generally Accepted Accounting Principles (GAAP)?

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Withum

JANUARY 12, 2024

Obtaining a PPA is important for several reasons, particularly the following: Accurate Financial Reporting PPAs ensure that the financial statements of the acquiring company accurately reflect the fair value of the assets and liabilities acquired in the business combination.

Real Estate 75

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Acterys

NOVEMBER 27, 2023

For FP&A teams to be most effective, they need powerful, easy-to-use tools that help them quickly analyze data, create financial reports and distribute that information among stakeholders. Learn more about the major types of FP&A reports and how to leverage them to monitor your business’ financial health and performance.

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Withum

JANUARY 24, 2023

Although an independent financial statement audit may not gain the day-to-day attention of management the same way as growing revenue or projecting cash flows; for many, there will come a time when an audit becomes a vital part of the company’s lifecycle. Auditors can only work as quickly as the requested information is provided.

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Basis 365

FEBRUARY 20, 2023

A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. It's one of the most important financial documents to help you make informed decisions, plan for the future, and secure financing. What is a Balance Sheet?

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Basis 365

MARCH 23, 2023

A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. It's one of the most important financial documents to help you make informed decisions, plan for the future, and secure financing. If your balance sheet isn’t correct, your income statement is incorrect.

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Cherry Bekaert

OCTOBER 25, 2023

A summary of those changes follows: Staff Accounting Bulletin No. 120 Staff Accounting Bulletin (SAB) 120 provided accounting and disclosure guidance for “spring-loaded awards.” Spring-loaded awards are share-based compensation awards granted shortly before an entity announces favorable information (e.g.,

financial statements 111

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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?

accounting principles 52

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CPA Practice

AUGUST 23, 2023

The Financial Accounting Standards Board (FASB) issued a new standard on Wednesday that addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. 1, 2025, and early adoption is permitted.

Account 52

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Basis 365

JULY 28, 2023

This comprehensive exploration will delve into the top accounting issues encountered by tech product-building companies, shedding light on the complexities in their financial operations. Revenue Recognition One of tech companies' most critical accounting challenges is accurately recognizing revenue.

Technology 52

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SkagitCountyTaxServices

JUNE 8, 2022

FASB, based in Norwalk, Connecticut, is an independent, private sector organization that establishes accounting standards for financial reporting in the U.S. It was started some 50 years ago as a successor to the Accounting Principles Board. FASB works to improve financial reporting within the U.S. Standard setter.

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Basis 365

JULY 27, 2023

By implementing effective inventory management practices, companies can ensure that the inventory's value is accurately accounted for, leading to more precise financial statements and reports. Accurate valuation helps businesses determine the actual inventory cost and enables them to report their financial position accurately.

E-commerce 52

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Withum

OCTOBER 20, 2022

The new lease accounting standards only apply to financial statements reported under Generally Accepted Accounting Principles (GAAP). Many real estate companies report their financial statements on the income tax basis of accounting and, therefore, do not need to apply the new lease accounting standards.

Real Estate 78

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CPA Practice

AUGUST 3, 2023

This free, comprehensive practice aid is regularly updated to keep practitioners informed of the rapidly evolving digital assets landscape, enabling them to adapt to changes effectively. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively.

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Basis 365

APRIL 18, 2023

This scalability ensures that CFOs have the necessary support to manage their company's financial records and reporting requirements, regardless of their business size or growth trajectory. CFOs understand the importance of accurate bookkeeping in maintaining financial integrity and compliance with regulatory requirements.

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ThomsonReuters

FEBRUARY 1, 2024

GAAP rules for outstanding checks Staying up to date with GAAP standards Accurately tracking and presenting financial information can be complex, even for smaller organizations. Enter Generally Accepted Accounting Principles, more commonly known as GAAP. What are the main principles of the GAAP framework?

Non-Profits 52

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Basis 365

FEBRUARY 1, 2024

In the complex world of business, a robust accounting system supports the foundation of financial clarity and control. It's not just about crunching numbers – it's about crafting a strategic architecture that empowers informed decisions, optimizes operations, and navigates the complexities of compliance.

accounting system 59

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Basis 365

MARCH 1, 2023

For example, your warehouse manager might be great at getting orders out on time, but how informed are they about what does and does not go into a product’s unit cost? What impact does their work in the inventory management system have on the financial statements? The same goes for inventory managers.

accounting system 104

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Withum

JANUARY 29, 2024

4] PE and VC Fund management and the board of directors reporting their financial statements under Generally Accepted Accounting Principles (GAAP) may face unique issues in reporting the fair value of their investments in the context of these dynamics. and the realization of a decrease from peak value in 2021 of 73%. [3]

accounting and finance 64

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Ryan Lazanis

JULY 11, 2023

Bank Account Reconciliation : Staff accountants maintain accurate bank account records by diligently reconciling financial records with bank statements, promptly detecting and addressing discrepancies. Handle accounts payable and accounts receivable functions, including invoice processing and collections.

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ThomsonReuters

APRIL 6, 2023

Additionally, crediting accounts receivable by $250,000 means a decrease in the accounts receivable by the same amount. GAAP for accounts payable and receivable The Generally Accepted Accounting Principles (GAAP) are a set of rules specific to the United States that are designed to provide oversight for accounting practices.

accounts payable 52

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Going Concern

MARCH 15, 2023

” in regards to the recent collapse of Silicon Valley Bank and Signature Bank, the banks’ auditors are insisting that, having exercised requisite due professional care, their unqualified opinions were based on the information available to them at the time and as such, the firm stands behind them.

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Basis 365

JUNE 22, 2022

You can rely on the services of an outsourced accounting company to help you stay ahead of your competitors. What financial statements are eCommerce companies required to make? Outsourced accounting provides financial diagnostic tools for eCommerce businesses. Companies can go through downturns without knowing why.

Account 52

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Going Concern

JUNE 28, 2022

EY further admits that during the Enforcement Division’s investigation of potential cheating at the firm, EY made a submission conveying to the Division that EY did not have current issues with cheating when, in fact, the firm had been informed of potential cheating on a CPA ethics exam.

auditor 98

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Basis 365

JULY 21, 2023

Service-based businesses, such as marketing agencies or management consultants, face several accounting issues that are unique to their industry. The overall accounting issue revolves around the matching of project-related revenue with the corresponding costs. Systems can help in this area as well.

Account 52

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CPA Practice

DECEMBER 11, 2023

Source: [link] Enhanced Financial Reporting and Auditing : AI will improve financial reporting and auditing processes. AI-powered algorithms will analyze large datasets and identify anomalies and potential risks more precisely, leading to more accurate and reliable financial statements.

Technology 124

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Cherry Bekaert

SEPTEMBER 8, 2023

The Final Rules retained much of the key requirements from the proposed rules, including the annual audit requirement for each private fund, preparation and distribution of detailed fund-level information in quarterly statements, fairness opinions for adviser-led secondaries, and books and records amendments.

audit 52

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inDinero Accounting

APRIL 30, 2021

Mission-based organizations in compliance with Generally Accepted Accounting Principles (GAAP) should prepare these financial statements: Statement of Financial Position (Balance Sheet) provides a picture of the NFP’s assets and liabilities. The nonprofit term for the financial statement makes it explicit.

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LyfeAccounting

MARCH 10, 2021

CPA accounting services most commonly include compilations, reviews, audits of financial information, and certain tax services. Compilations are basically financial statements that are prepared by an outside accountant. Reviews are where a CPA merely reviews financial statements for accuracy.

CPA 52

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ThomsonReuters

JULY 8, 2021

The good news is technology can now support consistent, accurate, automated global reporting and alleviate local issues related to language translation and country-specific tax rules, document formats and filing requirements, and generally accepted accounting principles. _. Watch the entire episode.

Technology 98

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Accounting Insight

APRIL 26, 2023

In fact, AI can enhance the work of accountants by providing them with better data and insights to make more informed decisions. AI will make accounting less secure. Another theory about AI in accounting is that it will make accounting less secure.

Technology 52

Technology Account accountant accounted 52

Going Concern

JUNE 29, 2022

That afternoon, the manager informed an EY human resources employee of the tip, which was then relayed to others in EY’s human resources group. As stated in our Global Code of Conduct, we are people who demonstrate integrity, respect and always doing the right thing.” Alright so mostly caught up now?

auditor 113

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ThomsonReuters

JANUARY 18, 2024

Accounting assumptions In an effort to help ensure information is reliable and consisten t, accounting assumptions are a set of guidelines that indicate how a company operates and business transactions are recorded. Accountant vs. CPA vs. tax preparer: What are the differences?

Account 59

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CPA Practice

SEPTEMBER 5, 2023

This free, comprehensive practice aid is regularly updated to keep practitioners informed of the rapidly evolving digital assets landscape, enabling them to adapt to changes effectively. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively.

audit 59

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Shay CPA

MARCH 22, 2023

And that means that founders need to be informed about the potentially significant impact. generally accepted accounting principles (GAAP), software development costs are typically expensed as incurred instead of capitalized. As a result, this change affects your 2022 tax filings.

Tax 52

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Shay CPA

JANUARY 25, 2023

In short, it’s the process of recognizing revenue received from customers at the right time periods for financial statement purposes. To provide a clearer picture, according to generally accepted accounting principles (GAAP), the company should use accrual-based accounting. We just threw a lot at you.

accrual accounting 52

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Withum

FEBRUARY 1, 2023

Every year the top dealership accounting firms and CFOs converge to discuss the latest hot topics as they relate to dealerships and dealership accounting issues. This year, a group from Withum attended to bring all of the best information back to our clients and our team.

accounting and finance 52

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