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Where’s Your GAAP: Transportation and Logistics Companies Need Clean Financials to Grow and Sell

Anders CPA

A net income sheet that has more ups and downs than an amusement park usually means one thing: The company’s bookkeeper is not using GAAP – generally accepted accounting principles. If this period crosses over two years, it can even impact tax liabilities, causing a company to under-pay one year and then over-pay the next.

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ShayCPA Looks Back on 2023

Shay CPA

including complying with the required financial reporting and taxes. Again, we shared our tax and financial reporting expertise. Specifically, Shrimanker touched on the tax implications of the different entity types those companies might choose (e.g., The two helped the founders think through establishing operations in the U.S.,

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Guide to accountant responsibilities

ThomsonReuters

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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AICPA Dealership Conference – Updates and Takeaways

Withum

Set in New Orleans, Louisiana this year, there was plenty of fun (Phillies Astros World Series Game 1) and information to go around. Important Tax Considerations With 2022 coming to an end, there are several important tax topics and considerations a dealer should be aware of over the next few years.

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Understanding MRR vs. Recognized Revenue: A Guide for Startups

Shay CPA

You also need to track recognized revenue — and that’s a whole different ball game. Revenue recognition is a separate beast, and one that requires you to adhere to generally accepted accounting principles (GAAP). Long story short, keeping tabs on your MRR isn’t rocket science, but it does require some work.

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What is COGS in Accounting and How to Calculate It?

Snyder

” COGS is also an accounting term under U.S. Generally Accepted Accounting Principles (GAAP) that requires businesses to apply certain inventory costing principles. Increasing COGS means decreasing net income which is beneficial for income tax purposes but means less profit for the shareholders.

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Accounting for Startups

inDinero Accounting

We’ll cover the various services startups need from accountants and the things accountants look out for while doing their work. There are many good reasons for the way things work – GAAP (generally accepted accounting principles) has been honed for decades. All of these should be managed and handled by your accountant.

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