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The Generally Accepted Accounting Principles that guide financial statement preparers is an area where accountancy and accounting intersect – this adds more confusion to how one term is distinct from the other. In practice, payroll administrators, accounts receivable clerks, accounts payable specialists, and bookkeepers fall under the category of accounting professionals. Despite these differences, accounting…

Cline Tax and Accounting focuses on building long-term relationships with its clients through accounting and tax services, as well as objective financial insights. The professionals at this firm assist businesses and individuals in different aspects of tax preparation and planning. They also have experience working with high-net-worth individuals, personalities in the entertainment industry, corporations, non-profits,…

The entire idea is to be on your game and make as few mistakes as possible. If you do not have the labor available, there are many brands of accounting software that can also keep an eye on things. A custom accounting system with robust AP automation is the key to making fewer mistakes. The…

Inventory valuation is used to determine the value of your stock at any given time, which is important for making informed decisions about buying and selling inventory. We recognize the unique challenges faced by family-owned vineyards and wineries, particularly in expanding into new markets and succession planning. Whether you’re focused on local or global expansion,…

The cost of business assets can be expensed each year over the life of the asset to accurately reflect its use. The expense amounts can then be used as a tax deduction, reducing the tax liability of the business. There are several steps to follow when calculating amortization for intangible assets. Since intangible assets are not easily…