Category: Bookkeeping 101

What Is the 3-Day Rule When Trading Stocks?

May 27, 2020 Bookkeeping 101 by ann
Available-for-Sale Security Comprehensive income includes net income and unrealized income, such as unrealized gains or losses on hedge/derivative financial instruments and foreign currency transaction gains or losses. Comprehensive income provides a holistic view of a company’s income not fully captured on the income statement. Unrealized gains and losses for available-for-sale securities are included on the
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BizFilings Share Amendment Filing Service

May 27, 2020 Bookkeeping 101 by ann
This valuation is based on several factors, including the sales or fees earned, fair market value of your assets. The person who performs the valuation will inform you of approximate worth of your company. Authorized shares become issued shares when “issued” or distributed to a stockholder. Shares that are not issued are usually called authorized
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Types of Audit

May 26, 2020 Bookkeeping 101 by ann
The development of cost-beneficial audit strategies and audit plans will, of course, be based on the auditor’s knowledge of these policies and principles, particularly for special purpose frameworks. All accounting estimates that could be material to the financial statements have been developed. The PCAOB establishes auditing and related professional practice standards for registered public accounting
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Audit Procedures: Definition

May 26, 2020 Bookkeeping 101 by ann
Audit Assertions are claims made by the management in their financial statements.These claims may be implicit (not directly stated but implied) or explicit (directly stated). You know, it is the responsibility of management to provide financial statements to external auditors. Can audit procedures be revised during the substantive testing? The assertion of completeness is an
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Attestation Services: The Tools That May Help You Avoid an Audit

May 26, 2020 Bookkeeping 101 by ann
Using an independent third-party to perform auditing, attestation and assurance services can ensure that you receive unbiased reports and informative opinions in regards to the procedures, protocols, internal systems and accounting data used throughout your organization. Partners, LLC is a certified public accountant firm who offers these services to a range of organizations so they
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