Counto

FEBRUARY 22, 2024

Whether you’re handling your own bookkeeping or working with an accountant, knowing these terms will help you make informed decisions about your business’s financial health. It’s a valuable tool for planning and decision-making, especially during tight financial periods.

Accruals 52

Accruals Financial Statements Accounting Accounting 52

Accounting Tools

SEPTEMBER 7, 2023

These activities include the preparation of financial statements and tax returns , setting up accounting processes, and analyzing costs. Given the complexity of modern business systems and the need to ensure that they produce accurate financial statements, accountants form a large part of the administrative staff of an organization.

Financial Statements 40

Financial Statements Accounting Accounting CPA 40

Accounting Tools

OCTOBER 14, 2023

Related Courses GAAP Guidebook International Accounting What are Statements of Position? Statements of position are recommendations regarding accounting issues that are occasionally produced by the American Institute of Certified Public Accountants ( AICPA ). The last statement of position was issued in 2013.

Auditing 40

Auditing Financial Accounting Accounting Accounting 40

Accounting Tools

JULY 11, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Audit? A financial audit is the examination of the financial records of an entity by a certified third party examiner.

Auditing 40

Auditing Financial Statements Financial Records Tax 40

Accounting Tools

SEPTEMBER 29, 2023

The attest function is the process of conducting an examination of an entity’s financial statements by a third party, where the outcome is the third party’s formal certification that the financial statements fairly present the entity’s financial results and financial position.

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

SEPTEMBER 24, 2023

Related Courses How to Conduct an Audit Engagement The Balance Sheet The Income Statement The Statement of Cash Flows What are Audited Financial Statements? Audited financial statements are the financial statements of an organization that have been examined by a certified public accountant (CPA).

Financial Statements 40

Financial Statements Auditing CPA Financial Reporting 40

Accounting Tools

JUNE 8, 2023

Attest is a statement made by a certified public accountant that the financial statements of a client fairly represent the client’s financial results and financial position. Related Courses How to Conduct an Audit Engagement What is Attest?

Financial Statements 40

Financial Statements CPA Auditing Accounting 40

Accounting Tools

SEPTEMBER 29, 2023

Assurance services are provided by an independent third party to verify that financial transactions or documents are correct. Assurance services are a core activity for certified public accountants , primarily through their auditing activities. Related Articles Accountant’s Liability Attestation Engagement Types of Audits

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

NOVEMBER 2, 2023

These parties include lenders , creditors , investors , regulators, and anyone else who reads the person’s financial reports. If accountants do not adhere to these responsibilities, outside parties will have less trust in business organizations, which can impact their ability to obtain funding from the financial markets.

Accounting 40

Accounting Accounting Financial Statements CPA 40

Accounting Tools

MARCH 11, 2024

Accounting Research Bulletins are issuances of the Committee on Accounting Procedure (CAP), which was part of the American Institute of Certified Public Accountants ( AICPA ). The CAP was replaced by the Accounting Principles Board , which in turn was later replaced by the Financial Accounting Standards Board (FASB).

Accounting 40

Accounting Accounting Financial Accounting 40

Accounting Tools

SEPTEMBER 27, 2023

If performed by a certified public accountant (CPA), the CPA can express an opinion on the fairness of the entity's financial statements. This opinion is then issued along with the financial statements to the investment community.

Auditing 40

Auditing Financial Statements CPA Accounting 40

Accounting Tools

MAY 16, 2023

Auditors are needed in order to verify that processes are functioning as planned, and that the financial statements produced by an organization fairly reflect its operational and financial results. Types of Auditors An internal auditor works for the entity which he or she audits.

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Auditing Financial Statements Financial Records Financial Reporting 40

Accounting Tools

OCTOBER 8, 2023

In descending order, the levels are as follows: FASB Statements of Financial Accounting Standards and Interpretations, FASB Staff Positions, and AICPA Accounting Research Bulletins and Accounting Principles Board Opinions that are not superseded by actions of the FASB.

Auditing 40

Auditing Financial Reporting Financial Accounting Accounting 40

Counto

JANUARY 11, 2024

The Importance of an Income Statement & How to Read it When it comes to evaluating a business’s financial health, investors, lenders, and business owners rely on three core financial statements: income statements (also known as profit and loss statements), balance sheets, and cash flow statements.

Financial Statements 40

Financial Statements Record Keeping Tax Accounting 40

Accounting Tools

MAY 19, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What is a Partial Income Statement? A partial income statement reports information for only part of a normal accounting period. It should never be included in an otherwise full set of financial statements without complete disclosure.

Financial Statements 40

Financial Statements Accounting Accounting 40

Intuit

NOVEMBER 20, 2023

Accounting is an umbrella term that encompasses many roles you can undertake, such as: Bookkeeping Financial Analysis Auditing Budgeting Actuary Clerk Tax Preparation Even within these positions, there are various sub-roles that thousands of companies are always hiring for. Sounds simple and appealing?

Tax 130

Tax Accounting Accounting QuickBooks 130

Accounting Tools

DECEMBER 12, 2023

Audit evidence is the documentation collected by an auditor as part of his or her review of the financial accounts, internal controls , and other matters needed to certify a client’s financial statements. Related Articles Agreed-Upon Procedures Audit Documentation Audit Trail Due Professional Care Permanent File

Auditing 40

Auditing Collections Financial Statements Financial Records 40

Accounting Tools

JULY 9, 2023

A basic bookkeeping position requires training in a two-year associates degree program, while anyone wanting to get on the track to becoming a controller or audit partner must obtain an accounting degree from a certified four-year program. A certified bookkeeper certification is also available for those planning to be a bookkeeper.

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Certified Bookkeeper Accounting Accounting CPA 40

Counto

JANUARY 8, 2024

Step 6: File Incorporation Documents Prepare the necessary incorporation documents, including the Memorandum and Articles of Association (MAA), and submit them to ACRA through the online portal. Singapore does not impose a minimum paid-up capital requirement, so you can decide the amount as per your needs.

Auditing 52

Auditing Financial Statements Financial Records Tax 52

Accounting Tools

MARCH 26, 2023

An auditor’s report is a written statement made by an external auditor , stating that party’s opinion on whether a client’s financial statements comply with the applicable accounting framework and are free of material misstatements. The opinion states that a client’s financials are fairly presented, except for a specified issue.

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Nanonets

JANUARY 8, 2024

Bank Reconciliation is the process of matching the company's cash books to the bank statement. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Match the deposits in the two statements. This severely impacts a company’s profitability.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Financial Records 52

Nanonets

JANUARY 8, 2024

Bank Reconciliation is the process of matching the company's cash books to the bank statement. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Match the deposits in the two statements. This severely impacts a company’s profitability.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Accounting 52

Accounting Tools

SEPTEMBER 20, 2023

Related Courses Closing the Books Public Company Accounting and Finance The Soft Close The Year-End Close How a Public Company Closes the Books A publicly held company is required by the Securities and Exchange Commission (SEC) to file a large report concerning its financial condition at the end of each quarter.

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

JULY 23, 2023

A large reserve may be caused by low-quality customers, which may in turn be caused by a company's reduced attention to screening the financial condition of prospective customers. Related Articles Bad Debt Recovery How to Write Off a Bad Debt When the Bad Debt Expense can be Negative The Difference Between Bad Debt ad Doubtful Debt

Accruals 40

Accruals Accounts Receivable Accounts Receivable Account Receivables 40

Nanonets

MAY 7, 2023

It ensures that credit card transactions match your bank statement transactions. This article will define credit card reconciliation and discuss the two types of reconciliation. You're not being charged interest on purchases made before the last statement arrived because those charges should be included in the next statement.

Bank Reconciliation 52

Bank Reconciliation General Ledger Reconciling Billing 52

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. They ensure compliance in financial reporting and can cut discrepancies and inefficiencies. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process.

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Accounts Payable Accounts Payable Auditing AP 52

Nanonets

MAY 3, 2023

Finchat is another financial chatbot – one that solves a different problem. Finchat also includes transcripts of quotes from the company’s executives in addition to pure financial data. Predict by Planful Planful is a financial performance management software. However, it still needs to be fed the right data.

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Data Entry Tax Computation Budgeting 94

CapActix

JULY 3, 2023

If you are running a small business in the USA and still thinking about whether it is a smart decision to outsource your accounting and bookkeeping work or not, then this article is for you. Small businesses can keep track of their financial records, bookkeeping accuracy, etc. Data and transactions will be encrypted.

Bookkeeping 52

Bookkeeping Outsourced Bookkeeping Bookkeeping Services Accounting 52

IMA's Count Me

AUGUST 29, 2021

IMA Website: [link] About the CMA Certification: [link] For nearly 50 years, the CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals. The first question is about the certified management accountant or CMA program that was launched in 1972 by IMA.

Management Accounting 40

Management Accounting Financial Analysis Accounting Accounting 40

Future Firm

AUGUST 2, 2023

In this article, you’re going to get a ton of inspiration plus a whole bunch of tips for picking amazing accounting firm names. Here are some examples: Smith Bookkeeping Solutions Brown Financial Consulting Jordan and Johnson Accounting & Tax Services Patel & Associates Certified Public Accountants Etc.

Accounting 52

Accounting Accounting Auditing Tax 52

Accounting Tools

SEPTEMBER 6, 2023

In essence, public accounting involves being an independent third party that examines the financial statements and supporting systems of client companies to see if their financial statements fairly represent the results, financial position , and cash flows of the clients.

Financial Statements 75

Financial Statements Accounting Accounting Auditing 75

Nanonets

FEBRUARY 15, 2024

Scoring Example: Supplier A scores 85, offering the best balance of cost ($52,000 per unit), quality (ISO 9001 certified), delivery time (3 months), and comprehensive after-sales service. Documentation: Payment details are recorded in the Payment Voucher , and the transaction is entered into the financial system for reconciliation.

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Purchase Order Invoicing Budgeting Collections 52

IMA's Count Me

MARCH 22, 2020

So as I'm going through this and I come across some of your other work here and I saw an article that you put out there, I believe it was accounting today. The article was written about whether or not gap is really in touch with today's economy. And they're much smaller entities.

Accounting 40

Accounting Accounting CPA Reconciling 40

Future Firm

APRIL 4, 2022

This simple statement helped become the gatekeeper for all other future decisions in the business. Financial statements preparation? I was able to grow my public accounting firm quickly by hiring certified public accountants and professional bookkeepers thanks to many of the marketing strategies that worked well.

Bookkeeping 98

Bookkeeping Bookkeeping Services XERO QuickBooks 98

Accounting Tools

JUNE 12, 2023

Also, auditors will only certify financial statements if they have been prepared using the accrual basis of accounting. Disadvantages of the Accrual Basis A small business may have a difficult time enacting the accrual basis, since it requires some knowledge of accounting systems , and especially of reversing journal entries.

Accruals 40

Accruals Financial Statements Bookkeeping Invoicing 40

Cloud Accounting Podcast

JUNE 28, 2020

If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. 6,000 a year is 500 bucks a month. Blake Oliver: [00:12:06] Yeah.

Bookkeeping 40

Bookkeeping QuickBooks Payroll Auditing 40

Cloud Accounting Podcast

JULY 20, 2020

Regulator Orders Big Four to Separate Audit Practices by 2024 – Wall Street Journal 32:27 – Debating the CPA License: Martin Zych + Blake Oliver + Brian Tankersley - CPA Review & More 33:40 – FASB Concepts Statement No. 8 – Conceptual Framework for Financial Reporting. David Leary: [00:14:47] I read the article three times.

Accounting 40

Accounting Accounting Auditing QuickBooks 40