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The Importance of an Accurate Balance Sheet

Basis 365

A proper balance sheet can increase your chances of securing the funding you need to grow your business. Complying with Accounting Standards and Tax Regulations An accurate balance sheet is also vital for complying with accounting standards and tax regulations.

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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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2022 Federal Budget Highlights

DMCL

The budget proposes elimination of some impacts of the new IFRS 17, a new international accounting standard applicable to insurance contracts that would allow insurance companies to defer recognition of income under both generally accepted accounting principles and for tax purposes.