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Year End Accounting Checklist: A Comprehensive Guide for Small Businesses

Year-End Accounting Checklist As the year comes to a close, it’s important for businesses to review and reconcile their financial records. Completing a year-end accounting checklist can help ensure that all necessary tasks are completed and that the business is ready for the new year. Here are some items that may be included on a […]

Where to Fax Form 2848

Where to Fax Form 2848 If you live in… Fax number Alabama, Arkansas, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, or West Virginia 855-214-7519 Alaska, Arizona, California, Colorado, Hawaii, […]

Jobs for Accountants Who Don’t Want to be Accountants

Exploring Alternative Careers Accounting is a versatile field that can lead to many other career opportunities outside traditional accounting roles. Accountants possess a unique set of skills that can be beneficial in a variety of industries. Here are some alternative career paths that accountants can explore: From Accounting to Business Analysis Accountants are skilled at […]

What is Accumulated Amortization and How Does it Work?

Understanding Accumulated Amortization Accumulated amortization is a contra asset account that records the total amount of amortization expense that has been charged against an intangible asset. It is a measure of the decrease in value of an intangible asset over time due to usage or obsolescence. Amortization is the process of allocating the cost of […]

What is a Double Entry Journal: A Clear Explanation

Understanding The Double Entry Journal Double-Entry Accounting vs Single-Entry Accounting Double-entry accounting is a bookkeeping method that records every financial transaction in at least two accounts. It is a more complex system than single-entry accounting, which only records transactions in one account. With double-entry accounting, every transaction has an equal and opposite effect in two […]

What to Bring to CPA Exam: Essential Items You Need to Have

What to Bring to the CPA Exam On the day of the CPA exam, it is important to bring the necessary documents and items to ensure a smooth and stress-free experience. Here is a list of what to bring to the CPA exam: Identification You must bring two forms of identification, including one government-issued ID […]

What Is a General Ledger Report: A Comprehensive Guide

Understanding The General Ledger Report A general ledger report is a financial management tool that provides a summary of all the financial transactions made by a business. It is an essential document that records all transactions in the general ledger, which is a master accounting document that provides a complete record of a business’s financial […]

When Do Transcripts Update: A Comprehensive Guide

When Do Transcripts Update According to the IRS, tax transcripts can update any day of the week. However, mass updates on daily accounts usually occur on Tuesdays, and mass updates on weekly accounts usually occur on Fridays. The updates typically occur overnight, and the new information is available on the transcript the next day. It […]

How Much Does a Partner at an Accounting Firm Make? A Comprehensive Guide

The road to becoming a partner is long and rigorous, with many years of education and experience required. One of the most common questions among aspiring accountants is how much does a partner at an accounting firm make? Partners at accounting firms can expect to earn very high salaries and receive generous compensation packages. In […]

How to Quit Big 4: A Comprehensive Guide for Professionals

Quitting a job is never an easy decision, especially when it comes to leaving a prestigious firm like the Big 4 accounting firms. Big 4 firms are known for their high salaries, excellent benefits, and prestige, making it hard for employees to leave. However, there are various reasons why someone might want to quit a […]