MyIRSRelief

MARCH 1, 2022

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs.

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Going Concern

FEBRUARY 27, 2023

In an article titled “Interactive Auditor-Client Negotiations: The Effects of the Accumulating Nature and Direction of Audit Differences” a team of researchers further examined what happens during these discussions and how the negotiations can affect the magnitude of audit adjustments made to financial statements.

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Going Concern

NOVEMBER 24, 2023

Furthermore, the perception of accounting as a tedious field, coupled with long working hours and a stressful environment, has contributed to the shortage​​​​. The shortage is also not limited to tax accountants but extends to those involved in financial planning, auditing, and other accounting tasks​​.

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Going Concern

JANUARY 26, 2024

Long Read Corporate Self-Oversight [ The American Prospect ] Four auditing firms examine the books of nearly every big U.S. How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations.

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ThomsonReuters

APRIL 18, 2023

Financial statements contain critical information about a company’s financial position, cash flows, and results of operations. They paint a picture of the company’s financial position and business performance and help management, investors, and other stakeholders make more informed economic decisions.

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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.

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Accounting Seed

NOVEMBER 18, 2022

Why Year End Reporting Matters The standard year-end reporting format includes a letter from you to your shareholders , a description of company goals and your vision for the business, annual financial statements, and your analysis and explanation of the year’s performance. Are you carrying more debt than you can handle?

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ThomsonReuters

OCTOBER 31, 2023

How to use AI to innovate Artificial intelligence (AI) is making its presence felt across many industries—and the accounting profession is no exception. While 51% of accounting professionals believe that ChatGPT and generative AI should be applied to tax, accounting, and audit work, opinions are divided about the usefulness of AI tools.

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Simple Accounts

MARCH 30, 2022

Different types of accounting are: Financial accounting, Cost accounting, Management accounting . A balance sheet is one of the important financial statements of a company. It is used to ascertain the financial position of a company on a particular date. Are accounting and auditing the same?

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ThomsonReuters

JANUARY 18, 2024

Types of accountants and niche practice areas There are, of course, various types of accountant jobs and areas of specialty. Responsibilities around AI in accounting Further illustrating this point are the advancements in innovative technology, such as AI, and its impact on the profession.

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xendoo

FEBRUARY 15, 2022

While an accountant may have some tax training, their understanding is typically more basic unless they specialize in tax accounting. An accountant’s regular duties vary based on their industry. If they work in public accounting, they may oversee or conduct an audit of a public company’s financial statements.

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MazumaBusinessAccounting

JANUARY 31, 2023

Some small business accountants also run payroll. At the end of the accounting period, accountants produce financial statements — balance sheets, income statements, and cash flow statements — to give you an overall picture of your company’s financial health.

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MazumaBusinessAccounting

FEBRUARY 1, 2023

Some small business accountants also run payroll. At the end of the accounting period, accountants produce financial statements — balance sheets, income statements, and cash flow statements — to give you an overall picture of your company’s financial health.

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Going Concern

FEBRUARY 19, 2024

PwC is gonna get sued over Evergrande : Evergrande’s liquidators are preparing for a potential lawsuit against PwC, which audited the now-collapsed Chinese property group for more than a decade, in a move that could lead to the Big Four accounting firm facing a high-profile negligence claim. CHECK THIS DUDE OUT. Good for you, sir.

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auditor Account accountant accounted 57

ThomsonReuters

APRIL 18, 2023

Solution: This means firms should consider a software solution that can do the following: Enable efficient research with a built-in, customizable tax law database that is tailored to meet the specific needs of the firm. Furthermore, professionals must adhere to new auditing standards SAS 134-140.

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ThomsonReuters

MARCH 19, 2024

Document generation and summarization: Generative AI models have the potential to automatically generate financial reports, invoices, or other accounting documents. They could also assist in summarizing lengthy financial statements or reports for quick insights.

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FraudFiles

NOVEMBER 5, 2020

Virtually all civil suits involve issues about money, and a certified public accountant is one of the best resources for sorting out the financial details. Examples of a more narrow tax focus could be estate planning, small business sales, or corporate audits.

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CPA Practice

AUGUST 17, 2023

We’ve just taken a lot of these paper-based processes and digitized them, but still have to do the same work.” “ Generative AI has the potential to give us the productivity boost we’ve been looking for, especially in audit and tax.” ~ Blake Oliver, CPA. I’m mostly tax, bookkeeping and accounting, and don’t do much A&A work.

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accounting firms Account accountant accounted 98

inDinero Accounting

APRIL 9, 2021

You’re making the switch to improve your board meetings with investors, get through an annual financial statement audit, complete your series A financing, or for an IPO. Seeing the cash-in and cash-out every month is reassuring, but you’re making the change in accounting method because your company’s growth depends on it.

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Accounting Seed

JANUARY 4, 2023

With a manual accounting system, you also draft tax returns and financial statements by hand, without computers. What is Automated Accounting? Automated and computerized accounting use software to manage a company’s bookkeeping. Have you figured your tax bill correctly?

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Account accountant accounted bookkeeping 52

LyfeAccounting

JANUARY 12, 2021

Well for one, your tax accountant will need to see your income and expenses for just the business to file those taxes. By keeping the supporting documents, it will help you to easily track and record the transactions in your accounting records. It will also serve as proof if you are ever audited by the IRS.

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