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Comments on Accounting
Post
Accounting
The following users marked this post as Casual browser:
| User | Comment | Date |
|---|---|---|
| Conrado | (no comment) | Mar 15, 2024 at 22:40 |
| JohnRando | (no comment) | May 16, 2024 at 14:50 |
Site Name
Accounting
Description
I quote r/Accounting.
The most basic definition of accounting is to track and communicate financial information or data about an organization or entity to stakeholders (investors, banks, business owners). Accounting may be for internal business purposes or for regulatory filings such as Annual 10-K reports for publically traded companies (Google, Walmart, Coca-Cola, etc). There exists a standard framework of principles that have been developed which are known as U.S. Generally Accepted Accounting Principles (GAAP). These standards are set and ‘codified’ by the profession with input from the public and regulators.
Topics
Topics covered would include:
Audit: Ensuring that financial reporting information (and at times the internal controls) is materially reasonable. Testing and validating information and discussing and inquiring with clients.
Tax: Preparing returns, researching tax issues (rules, special credits, transfer pricing, etc), ensuring client’s tax analysis and preparation are correct. Provide advice to client on transactions and ways to handle intended changes in business.
Advisory: Advisory is a broad term to describe non-audit/tax services offered by public accounting firms. The section below outlines the different types of advisory.
Special Features
This needs MathJax.
2 comment threads