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Preparing for Your First Financial Audit: A Checklist for Startups

Shay CPA

Accrual accounting can be somewhat complicated, especially for software as a service (SaaS) companies, so we have a guide to help you better understand it. Theres another similar component of GAAP thats relatively new and applies to many startups: lease accounting. As of 2022, all U.S. And this isnt just an audit-specific to-do.

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Accounting Isn’t a Stand-Alone Activity

SMBAccountant

The bank asks for your balance sheet when you apply for a line of credit to cover payroll or other expenses while you’re waiting to collect from your customers. While it is absolutely possible that a member of the accounting staff could participate in some sort of fraud, management’s involvement is imperative.

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IRIS Software Group unveils IRIS Elements Enterprise for accountancy firms serving complex clients

Accounting Insight

IRIS Software Group , a leading global provider of accounting, edtech, HR and payroll solutions, today announced the launch of IRIS Elements Enterprise , the latest tier in its existing cloud-based accounting suite.

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How to Use ChatGPT to Create Forms and Templates for Accounting Firms

CPA Practice

Internal Audit Checklist: For conducting audits within the firm to ensure compliance with accounting standards and regulations. Financial Statement Template: To prepare standardized financial statements for clients, such as balance sheets, income statements, and cash flow statements.

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GAAP: What It Is and Why Your Investors Expect It

inDinero Accounting

The history of GAAP dates back to 1929 when the Committee on Accounting Procedure was founded by the American Institute of Accountants and tasked with developing uniform accounting standards. More Examples of Accrual Accounting Two examples of accrual accounting are accrued salaries and wages and accrued payroll taxes.

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Should you hire a Controller or a Bookkeeper?

Basis 365

They record transactions, reconcile accounts, and generate financial statements. In addition, bookkeepers typically handle day-to-day financial tasks such as invoicing, accounts payable, and accounts receivable. They may also manage payroll and prepare sales tax filings.

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On-Demand Webinar: Year-End Healthcare Tax and A&A Update

Withum

From the tax side, John will provide a 2023 annual update on year-end employer payroll tax and 1099 reporting, including developments from both the Federal and state and local levels. Identify 2023 and 2024 payroll and benefits updates, best practices, and recommendations. Define upcoming AICPA and FASB updates.