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Understanding Cash vs. Accrual Accounting

Withum

Moreover, cash basis accounting is not compliant with Generally Accepted Accounting Principles (GAAP), as established by the Financial Accounting Standards Board (FASB). GAAP mandates the use of accrual accounting, meaning businesses relying solely on cash basis accounting may face compliance issues.

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Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Bilateral Meeting

CPA Practice

The meeting was the thirty-fifth in a series of meetings between the FASB and the ASBJ to further the boards’ cooperative efforts to develop high-quality global accounting standards.

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End-of-Year Accounts Receivable Checklist: Ensuring Financial Stability for Your Clients into the New Year

CPA Practice

As the year comes to a close, clients will increasingly rely on their advisors to help them confidently close out their financials. By Jana Rzezniczek.

cpas 111
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Strong Businesses, Strong Strategic Partnerships

Basis 365

Financial Accounting Team: A dedicated accounting team is essential for daily bookkeeping, bill payment processing, payroll, sales invoicing, and financial statement preparation. Below, weve outlined key strategic partners every business should consider.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Preparing for Your First Financial Audit: A Checklist for Startups

Shay CPA

You should already be accounting for your stock-based compensation in your annual income statement because this is a requirement from the Financial Accounting Standards Board. Calculating this compensation means using the latest financial reporting value that you have for your company (e.g.,

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Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition

Shay CPA

Because of the Financial Accounting Standards Boards (FASBs) Accounting Standards Codification (ASC) 606 , its mandated that companies use whats called revenue recognition. On the surface, bookkeeping might not seem that complicated. A client or customer pays you money, so you record it on your books on the date it was paid.