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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. What does that look like for a transportation company? Are your rates high enough? Are you spending the right amount on fleet maintenance?

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2022 Federal Budget Highlights

DMCL

While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was undoubtedly influenced by the recent announcement of a coalition with the NDP.

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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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Profit and Loss Statement (P&L): A Beginner’s Guide

Snyder

When you prepare these financial reports, you must comply with generally accepted accounting principles (GAAP). Columns in the statement may be displayed by: location, contact, e-commerce stores, product, tags, tax, payment processor, month. P&Ls are used by the government for tax purposes. Obtaining net income.

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The Rundown: A Guide to Busy Season 2023

Cherry Bekaert

For example, a transportation service contract may require the supplier to use a specifically identifiable truck. Logistics, transportation, warehousing and data center service contracts are among the most common places to look for embedded leases. Service contracts are the most likely to contain an embedded lease.