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Understanding AI and automation in accounting

Accounting Insight

With constantly changing tax regulations and complex calculations, ensuring compliance can be a daunting task, especially for businesses that operate in various countries (and/or have clients who do.) AI-powered tax software can automate the process of tax preparation, minimising the risk of errors and ensuring accurate calculations.

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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? CPA vs. tax preparer: What are the differences?

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What is FRF for SME?

KROST

One of the many benefits of using the FRF for SME framework is that it was designed with business owners in mind, and it forms a meeting point between accrual accounting standards preferred by tax preparers and lenders and real-world business concerns like liquidity and cash flows.

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How to Improve Accounting for a Transportation Business: 4 Essential Cash Accounts

Anders CPA

Accounting software is exceptionally important for transportation businesses and owner-operators alike, but it’s not going to solve every problem. Your accounting management software only adds value if you’re maintaining proper financial records, cash flow statements, tax planning strategies, and forecasting practices.