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The Ripple Effect of Tariffs: Inventory, Pricing and Financial Statements

Withum

ASC 330 requires that companies analyze their inventory to ensure it is stated at the lower of cost or net realizable value, defined as the estimated selling price in the ordinary course of business, less the cost of transportation. How Else Do Tariff Costs Impact the Income Statement? Our tariff experts are happy to help.

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How to Use ChatGPT to Analyze Financial Statements

CPA Practice

AI tools like ChatGPT can be used to streamline financial statement analysis and other client accounting service tasks. Here’s an example of what it can do with an income statement. By Sandi Smith Leyva. An important reminder is that your data needs to be anonymized before entering it into any generative AI application.

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Think Like a Banker and Set up Your Transportation & Logistics Company for Success

Anders CPA

In a capital-intensive industry like transportation and logistics, a strong relationship with your financial institution can improve your bottom line by generating thousands of dollars of profit or enabling you to negotiate a better interest rate or a higher line of credit. The cleaner the financials, the better the interest rate.

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Transportation and Logistics Businesses: Control Overhead Costs with 3 Questions

Anders CPA

With so many expenses (some prepaid, some belonging to multiple categories), it’s essential to follow industry best practices when you prepare your financial statements. The two big groups of expenses are purchased transportation and operating expenses, and each can be subdivided into several more categories.

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Top Remote Accountants of the Week | November 27, 2024

Going Concern

TAX CANDIDATES FTE Tax Senior | Candidate ID #9084031 Certifications: CFE, CPA Education: BS, MS Accounting Experience (years): 20+ years of tax and accounting experience Work experience (detail): 5+ years in public accounting Controller experience with multiple entities 5+ years in senior tax roles Client tax advisory, planning and resolution Client (..)

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How to Improve Accounting for a Transportation Business: 4 Essential Cash Accounts

Anders CPA

Accounting software is exceptionally important for transportation businesses and owner-operators alike, but it’s not going to solve every problem. Your accounting management software only adds value if you’re maintaining proper financial records, cash flow statements, tax planning strategies, and forecasting practices.

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Partners Stand to Make Millions (Maybe) If EY Breaks Up

Going Concern

Much of the money raised in the IPO and borrowed by the consulting firm would go to pay off the firm’s auditing partners, who would remain in the traditional but slower-growing business of examining and signing off on companies’ financial statements. The split could happen as early as late 2023.

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