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Guide to accountant responsibilities

ThomsonReuters

As outlined by Garcia , for CPAs in financial accounting, some of the top responsibilities to clients include: Providing timely and trusted answers Staying on top of emerging regulatory activities Helping clients implement and consistently apply high-quality accounting standards Partnering when clients need help navigating certain situations.

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Top accounting issues in 2023

ThomsonReuters

The ability to prioritize and monitor tasks, track any regulatory changes, leverage customizable templates for schedules and tax work papers, and set up rules and permissions for each user within the firm. The lease accounting standard became effective in 2019 for public companies.

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Ways to prevent financial reporting errors

ThomsonReuters

accounting standards require prior statements to be corrected and the corrections to be disclosed. The CPA will judge the information based on how well it complies with accounting standards. What is a financial statement restatement? When there are errors in financial reporting, U.S.