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Role of CPAs in the Overall Economy

Withum

CPAs provide independent auditing to assure lenders and investors that companies seeking credit or capital have statements that present fairly the results of its operations and the companies’ financial position and cash flow, that the statements are free from material misstatement, and that the auditors making the attestations are independent.

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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data. You’re considering an IPO. Don’t forget that all public companies must comply with GAAP.

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The Role Of An Accountant: A Guide To Today’s Accountant’s Roles, Duties, And Responsibilities

Snyder

From early Mesopotamian records of goods sold and bought around 7,000 years ago to the first bookkeepers recording barters of goods around 2000 B.C. From the first attempts at single-entry bookkeeping in the 1400s to the invention of double-entry bookkeeping almost a hundred years after.