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How to navigate accounting assumptions

ThomsonReuters

To help accounting professionals navigate accounting assumptions, this article explores the basic accounting assumptions, how they relate to generally accepted accounting principles (GAAP) , and more. They are rooted in facts, data analysis, and research. And remaining aware of relevant assumptions when serving clients is critical.

Account 96
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Inventory Planning 101: Unlocking the Secrets of Optimal Inventory Forecasting

Acterys

Senior Industry Analyst Ted Rossman explained that this rise “marks the slowest year-over-year retail sales growth since 2020,”. In this blog, we cover some basics about inventory planning: what it is, why do you need it, and what are its benefits and challenges. Why do you need to plan your inventory? Let’s get started.

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Inflation Tax: The Hidden Threat to Your Money in 2021

LyfeAccounting

So quick math here… Basically, if you had $100 this month last year, well it’s worth about $96 today just based on that 4.2% Basically, the average inflation for last year was 1.4% Basically, the average inflation for last year was 1.4% This is so that we can position inflation as your friend and not your enemy.

Tax 87
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Accounting advisory: What you need to know

ThomsonReuters

But what does accounting advisory mean and how can your firm take advantage of this unique opportunity to showcase your knowledge and build deeper relationships with your clients? Let’s take a look at the basics. What is accounting advisory?

Account 88
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Financial Reporting in the COVID-19 Era for Accounting Professionals

ThomsonReuters

One of the most intimidating tasks facing companies’ financial representatives today is the urgent need to provide extensive disclosures detailing the pandemic’s impact and how that risk is being managed. Basically, this is an evaluation of your company’s chance of survival. Do you have a shortage of working capital?

Account 52
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Stocks vs. Real Estate Investing – Which is Better in 2021?

LyfeAccounting

Income from Dividends or Cash Flow. It basically means that the asset you invest in will increase in value over time. For example, the S&P index fund, which is composed of 500 of the largest companies in the United States, had an average annualized return of 10% since its inception in 1926. Tax Advantages.

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How To Start a Bookkeeping Business in 2022 [Step by Step]

Ryan Lazanis

Great news, because this step-by-step guide will cover the critical 7 steps you’ll need to follow to set up a modern bookkeeping practice and to land your first clients. How to create your core offering. Marketing your bookkeeping services to find new clients. Chapter 2: Create & Package Your Core Offerings.