Strategic Business Advisory & Tax’s Post

✨ 𝐌𝐨𝐬𝐭 𝐕𝐢𝐞𝐰𝐞𝐝 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐓𝐚𝐥𝐤 𝐨𝐟 𝟐𝟎𝟐𝟒! Will Hill and Julie Smith, MBA | The 3 Processes Every Firm Should Have Automated In our top-rated session, industry experts Will Hill and Julie Smith, MBA, shared insights on automating essential firm processes. They revealed the top three processes to streamline, helping firms boost efficiency and productivity like never before. 🎥 Catch the highlights here: https://hubs.li/Q030zTnC0 #PracticeManagement #MostViewedTalk #EfficiencyInAction #BeInsightful #IA #InsightfulAccountant #TopProAdvisor #Accounting #Accountant #TopProAdvisor #Top100ProAdvisor #APPAcademy #QuickBooks #Tax #Accounts #Financial #CPE #EarnCPECredits

✨ 𝐌𝐨𝐬𝐭 𝐕𝐢𝐞𝐰𝐞𝐝 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐓𝐚𝐥𝐤 𝐨𝐟 𝟐𝟎𝟐𝟒! Will Hill and Julie Smith, MBA | The 3 Processes Every Firm Should Have Automated In our top-rated session, industry experts Will Hill and Julie Smith, MBA, shared insights on automating essential firm processes. They revealed the top three processes to streamline, helping firms boost efficiency and productivity like never before. 🎥 Catch the highlights here: https://hubs.li/Q030zTJd0 #PracticeManagement #MostViewedTalk #EfficiencyInAction #BeInsightful #IA #InsightfulAccountant #TopProAdvisor #Accounting #Accountant #TopProAdvisor #Top100ProAdvisor #APPAcademy #QuickBooks #Tax #Accounts #Financial #CPE #EarnCPECredits

✨ 𝐌𝐨𝐬𝐭 𝐕𝐢𝐞𝐰𝐞𝐝 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐓𝐚𝐥𝐤 𝐨𝐟 𝟐𝟎𝟐𝟒! Will Hill and Julie Smith, MBA | The 3 Processes Every Firm Should Have Automated In our top-rated session, industry experts Will Hill and Julie Smith, MBA, shared insights on automating essential firm processes. They revealed the top three processes to streamline, helping firms boost efficiency and productivity like never before. 🎥 Catch the highlights here: https://hubs.li/Q030zynN0 #PracticeManagement #MostViewedTalk #EfficiencyInAction #BeInsightful #IA #InsightfulAccountant #TopProAdvisor #Accounting #Accountant #TopProAdvisor #Top100ProAdvisor #APPAcademy #QuickBooks #Tax #Accounts #Financial #CPE #EarnCPECredits

Discover how Access Accountants can significantly enhance the profitability of accounting firms with several key features. 💰 👉https://ow.ly/XGv350TcbWS #WeAreAccess #FreedomToDoMore #Accountingandaccountants #AccessAccountants #ProfitabilityEnhancement #AccountingFirms #BusinessGrowth #AccountingSolutions

✨ 𝐌𝐨𝐬𝐭 𝐕𝐢𝐞𝐰𝐞𝐝 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐓𝐚𝐥𝐤 𝐨𝐟 𝟐𝟎𝟐𝟒! Will Hill and Julie Smith | The 3 Processes Every Firm Should Have Automated In our top-rated session, industry experts Will Hill and Julie Smith, MBA, shared insights on automating essential firm processes. They revealed the top three processes to streamline, helping firms boost efficiency and productivity like never before. 🎥 Catch the highlights here: https://hubs.li/Q030zx6p0 #PracticeManagement #MostViewedTalk #EfficiencyInAction #BeInsightful #IA #InsightfulAccountant #TopProAdvisor #Accounting #Accountant #TopProAdvisor #Top100ProAdvisor #APPAcademy #QuickBooks #Tax #Accounts #Financial #CPE #EarnCPECredits

👉 Accounting is the language of business. In the United States, the accounting language is called GAAP, which stands for Generally Accepted Accounting Principles. The accounting language in the rest of the world is called IFRS, which stands for International Financial Reporting Standards. While both languages are similar, here are some noteworthy differences: IFRS INCOME STATEMENT: 2 years allowed BALANCE SHEET: Increasing order of liquidity  CASH FLOW STATEMENT: Flexibility with location INTERIM REPORTS: Each interim period is an integral part of fiscal year NON-STANDARD METRICS: Alternative EPS allowed R&D COSTS: Capitalized when specific conditions are met INCOME TAXES: Recognized as assets when probable INVESTMENT PROPERTY: A separate category BIOLOGICAL ASSETS: Included in inventory LEASES: Single category on balance sheet  CONTINGENT LIABILITIES: Recognized when > 50% likely INVENTORIES: LIFO not allowed FIXED ASSETS: Fair value allowed INTANGIBLES: Fair value allowed LEASES: IFRS 16 effective 2019 DEBT ISSUANCE COSTS: Costs are netted against the outstanding debt REVENUES: IFRS 15 effective 2018 GAAP INCOME STATEMENT: 3 years required BALANCE SHEET: Decreasing order of liquidity  CASH FLOW STATEMENT: No flexibility with location INTERIM REPORTS: Each interim period is an integral part of fiscal year NON-STANDARD METRICS: Alternative EPS is prohibited R&D COSTS: Expensed INCOME TAXES: All differed taxes recognized  INVESTMENT PROPERTY: Not separate BIOLOGICAL ASSETS: Measured at fair value, separate from Inventory LEASES: Categories for operating & finance leases  CONTINGENT LIABILITIES: Recognized when > 75% likely INVENTORIES: LIFO allowed FIXED ASSETS: HIstorical cost INTANGIBLES: HIstorical cost LEASES: ASC 842, effective 2018 DEBT ISSUANCE COSTS: ASU 2015-03 REVENUES: ASC 606, effective 2018 Was this helpful? Let me know in the comments section below! All credit to Wall Street Prep for this great summary. 🧕You can reach me here for your bookkeeping needs. https://lnkd.in/gJM3j3e #bookkeeping #bookkeeper #bookkeepingservices #accountingsoftware #quickbooks #quickbooksonline #xero #xeroaccounting #wave #freshbook #cloudaccounting #propertybusiness #realestatebusiness #ecommercebusiness #lawfirm #smallbusiness #mediumbusiness #restaurantbusiness #healthcare #construction #consultancy #fiverr #fiverrseller #fiverrfreelancer #upwork #upworkfreelancer

Uncover 5 cool tips to keep those awesome accounting and finance pros sticking around! 💡💼Check it out here https://okt.to/aMJvyP #TalentRetention #FinanceTalentSolutions #AccountingTalent #RetainTopTalent

Help a business owner you know with this key accounting insight! Found it helpful? Credit: ssstik.io_@heathhillgreen_1718049707095.mp4 #BusinessFinance #AccountingHelp #SuccessTips

Perform a thorough evaluation of your accounting and finance functions with the resources in this premium KnowledgeLeader tool. #accounting #internalaudit #internalcontrols https://dy.si/u3u6h

To the CAs in my network, looking for some inspiration on how can you keep across the latest finance and accounting trends and practices, and upskill yourself? Get some inspiration: https://ow.ly/51Ub30sEoQq #CAANZ #DifferenceMakers