When a person becomes a CPA (Certified Public Accountant), they have attained a highly desirable rung in the accounting ladder. The reason for this is that, as a CPA, the person has...
Posted by KLSM CPA Firm PLLC on 01/09/2022
Generally Accepted Accounting Principle (GAAP) refers to a set of rules established to help publicly traded firms establish their financial statement. The rules serve as the foundation...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
What is an Accounting Method?An accounting method refers to the rules that a business follows when reporting income and expenses. The two main accounting methods are accrual accounting...
During an audit season, not-for-profit financial statement mistakes may cost you. The auditors will feel similar to medical professionals for not-for-profit financial statements. They...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 08/13/2018
When starting a new business, tracking expenses and income is a key part of the administration of your business affairs. However, it also means that you must choose what type of accounting...
While there are many decisions that you have to make when starting your new business, one of the most critical is the accounting method that you will use in your business. Once you...
Hello everyone, Joe Gormley, CPA here to answer your financial questions. One common observation I’ve seen about mid-sized businesses is that many prefer to cut corners when trying...
If you run a business, you are probably well aware of how much work goes into bookkeeping. There’s a reason Accountants charge so much for their services—and that reason is attention...