CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

income tax 110

income tax Tax accounting standards financial statements 110

CPA Practice

MARCH 16, 2023

The Financial Accounting Standards Board released a proposed Accounting Standards Update (ASU) on Wednesday that addresses requests from investors for improved income tax disclosures.

income tax 111

income tax Tax accounting standards financial statements 111

CPA Practice

JUNE 24, 2024

Request for Information (RFI) Form: To formally request additional information or clarification from clients on specific financial matters. Internal Audit Checklist: For conducting audits within the firm to ensure compliance with accounting standards and regulations.

accounting firms 124

accounting firms cpa firm Account accounted 124

SMBAccountant

NOVEMBER 21, 2022

Financials statements and performance are no different. If incorrect or inaccurate data is used or missing, the financial performance and indicators used to determine success, value, creditworthiness, and financial viability are also not correct. An owner wants to do some tax planning. Permalink

Account 130

Account accounted accountant bookkeeping 130

Accounting Insight

MAY 1, 2024

Before delving into the potential impact of AI in accounting, it’s essential to understand the role AI plays in modern accounting practices. In modern accounting, AI is being used to automate several tasks, including data entry, invoice processing and financial statement analysis.

Account 64

Account accounted accountant bookkeeping 64

CPA Practice

MAY 29, 2024

Compliance Staying up-to-date with the latest regulations is crucial in the accounting profession to ensure compliance with evolving requirements and to avoid costly penalties or legal issues. When accountants demonstrate strong regulatory knowledge and competence, they maintain professional credibility.

Account 59

Account accounted accountant Technology 59

KROST

APRIL 12, 2022

After many years of public comment on the challenges of presenting GAAP financial statements for small businesses, the AICPA issued the Financial Reporting Framework for Small and Medium-Sized Entities. If the cost of your financial statements is greater than the benefits gained.

accrual accounting 52

accrual accounting financial statements accounting and finance auditor 52