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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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GASB 101: Compensated Absences Update

Cherry Bekaert

Contributor: Anthony Walsh The Governmental Accounting Standards Board (GASB) has issued Statement No. This new guidance supersedes GASB Statement No. This new guidance supersedes GASB Statement No. The goal of Statement No. 101, but it was removed in the final statement.

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Key Accounting Challenges Facing Professional Services Businesses

Basis 365

These challenges may require a perticular way to input the information in the accounting system to generate the output management needs to run their business or the implementation of a system that sits on top of the accounting system for the team to use in their day-to-day.

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Top accounting issues in 2023

ThomsonReuters

The ability to prioritize and monitor tasks, track any regulatory changes, leverage customizable templates for schedules and tax work papers, and set up rules and permissions for each user within the firm. The lease accounting standard became effective in 2019 for public companies. Batch-style data entry.

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Startup Accounting Guide: Everything You Need to Know in 2022

Accounting Seed

At that point, hiring an accountant may make more sense than handling your own bookkeeping. In some cases, an accountant is mandatory. For example, only a CPA can draw up audited financial statements for a publicly traded company. Set Up Financial Statements. Manage Payroll.

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Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots? | 12.23.22

Going Concern

Because robots can replace jobs, the idea goes, a stiff tax on them would give firms incentive to help retain workers, while also compensating for a dropoff in payroll taxes when robots are used. The concept has been publicly discussed by policy analysts, scholars, and Bill Gates (who favors the notion).

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