Home » Accounting & Bookkeeping Services
taxable income, tax return , tax, tax accounting, financial accounting, financial reporting , gaap, generally accepted accounting principles, tax accounting, financial statements, financial reporting, bookkeeping services, bookkeeping, cpa, certified public accountants, certified public accountant, accountancy service, ahca, contador, ahca consulting, tax , accounting, accountants, accountant, accountants in miami

Accounting & Bookkeeping Services

Accounting & Bookkeeping Services provided by Accountants in Miami. Professional Accountants rendering accounting and bookkeeping services.

Accounting or accountancy is the measurement, processing, and communication of financial and nonfinancial information about economic entities such as businesses and corporations. Accounting, which has been called the “language of business” measures the results of an organization’s economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms “accounting” and “financial reporting” are often used as synonyms.

Accounting & Bookkeeping Services can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting, and cost accounting. Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization’s financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators, and suppliers; and management accounting focuses on the measurement, analysis, and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

Even though Accounting & Bookkeeping Services has existed in various forms and levels of sophistication throughout many human societies, and the double-entry accounting system in use today was developed in medieval. Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms, and professional bodies. Financial statements are usually audited by accounting firms and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. As of 2012, “all major economies” have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).

Financial accounting

Financial accounting (or financial accountancy) in the field of Accounting & Bookkeeping Services concerned with the summary, analysis, and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision-making purposes.

Accounting & Bookkeeping Services and Financial accountancy is governed by both local and international accounting standards. Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions, and rules that accountants follow in recording and summarizing and in the preparation of financial statements.

On the other hand, International Financial Reporting Standards (IFRS) is a set of passionate accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board (IASB). With IFRS becoming more widespread on the international scene, consistency in financial reporting has become more prevalent between global organizations.

While financial Accounting & Bookkeeping Services is used to prepare accounting information for people outside the organization or not involved in the day-to-day running of the company, managerial accounting provides accounting information to help managers make decisions to manage the business.

Financial accounting and financial reporting are often used as synonyms.

  1. According to International Financial Reporting Standards: the objective of financial reporting is:

To provide financial information that is useful to exist and potential investors, lenders, and other creditors in making decisions about providing resources to the reporting entity.

  1. According to the European Accounting Association:

Capital maintenance is a competing objective of financial reporting.

Financial accounting is the preparation of financial statements that can be consumed by the public and the relevant stakeholders. Accounting & Bookkeeping Services financial information would be useful to users if such qualitative characteristics are present. When producing financial statements, the following must comply: Fundamental Qualitative Characteristics:

Relevance: Relevance is the capacity of financial information to influence the decision of its users. The ingredients of relevance are the predictive value and confirmatory value. Materiality is a sub-quality of relevance. Information is considered material if its omission or misstatement could influence the economic decisions of users taken based on the financial statements.

Faithful Representation: Faithful representation means that the actual effects of the transactions shall be properly accounted for and reported in the financial statements. The words and numbers must match what happened in the transaction. The ingredients of faithful representation are completeness, neutrality, and free from error.

Tax accounting

U.S. tax accounting refers to Accounting & Bookkeeping Services for tax purposes in the United States. Unlike most countries, the United States has a comprehensive set of accounting principles for tax purposes, prescribed by tax law, which is separate and distinct from Generally Accepted Accounting Principles.

The Internal Revenue Code governs the application of tax accounting. Section 446 sets the basic rules for tax accounting. Tax accounting under section 446(a) emphasizes consistency for a tax accounting method with references to the applied financial accounting to determine the proper method. The taxpayer must choose a tax accounting method using the taxpayer’s financial accounting method as a reference point.

Types of tax accounting methods

 Proper accounting methods are described in section 446(c)(1) to (4) which permits cash, accrual, and other methods approved by the Internal Revenue Service (IRS) including combinations.

After choosing an Accounting & Bookkeeping Services tax accounting method, under section 446(b) the IRS has wide discretion to re-compute the taxable income of the taxpayer by changing the accounting method to be used by the taxpayer to reflect the taxpayer’s income.

If the taxpayer engages in more than one business, the taxpayer may use a different method for each business according to section 446(d).

If the taxpayer wants to change a tax accounting method, section 446 of the Internal Revenue Code requires the taxpayer to obtain the consent of the Internal Revenue Service. There are two kinds of changes: obtaining a letter of approval from the IRS, and obtaining a series of more routine changes, each of which is an automatic change. To get the automatic change, the taxpayer must fill out a form and return it to the IRS.

The taxpayer can adopt another method if the taxpayer files a tax return using that method for two consecutive years. This is different from changing a tax accounting method under the release of the IRS because, in the case of adopting another method, the IRS may assess fines and reallocate taxable income. If the taxpayer wants to return to the previous method, the taxpayer must ask for permission from the IRS, following the 446(e) procedure.

Accounting & Bookkeeping Services or the taxpayer fails to request a change of method of accounting then, according to section 446(f), the taxpayer does so at his or her peril by exposure to penalties.

writing a business plan for home health care, why do i need an accountant for my small business, why do i need an accountant, when to hire an accountant for a small business, what does a cpa charge per hour, understanding cash flow statement, understand cash flow statement, tu contador en miami, top cpa firms in miami, the outsourced accountant, taxes en miami, tax services miami fl, tax services, tax preparation miami, tax preparation, tax planning, tax miami, tax firm miami, tax filing miami, tax en miami, tax cpa, tax consultants, tax accounting miami, tax accountants near my location, tax accountant near me, tax accountant miami, tax accountant florida, tax accountant, talk to an accountant , start up costs on balance sheet, start up costs capitalized, start up cost capitalization, start up business accountant, start home health agency business, small cpa firms near me, small business tax preparation south florida, small business tax preparation near me, small business tax cpa, small business tax accountants, small business tax accountant near me, small business set up accountant, small business cpa services, small business cpa near me, small business cpa, small business accounting services near me, small business accounting professionals, small business accounting miami, small business accounting firms, small business accounting, small business accountant near me, small business accountant miami, small accounting firms near me, s corp accounting, reviewed financial statements, quality accounting and tax service, public accounting, public accountant near me, profit & loss statement, professional financial statements, professional accounting and tax, physician accounting services, physician accountant, pharmacy accounting services, pharmacy accountant, personal cpa, payroll and bookkeeping services near me, p&l miami, p&l accounting & tax services, organizational costs gaap, new business startup accountants, need accounting help, need accountant for small business, miami tax services, miami tax preparation, miami tax expert, miami pro tax and accounting, miami cpa firms, miami cpa, miami bookkeeping services, miami bookkeeping, miami bookkeepers services, miami bookkeepers, miami accounting firm, miami accounting, miami accountants, miami accountant, medicare cost report preparation, medicare cost report for home health agency, looking for accounting services, looking for a good tax accountant, local business accountants, llc and s corp differences, la contabilidad, income tax miami, income tax accountant in miami, income tax accountant, how to read a cash flow statement, how to read balance sheet, how to find the best accountant, how to find an accountant for small business, how to find an accountant, how to find a tax accountant, how to find a new accountant, how to find a good tax accountant, how to find a good cpa, how to find a good accountant, how to choose a tax accountant, how much does a cpa charge per hour, how much cpa charge per hour, how do you find a good accountant, how do i find a good accountant, how can a cpa help a small business, home health care services business plan, home health care business plan, home health care agency business plan, home health business plan, home health agency business plan, hiring an accountant for small business, hire a cpa, hire a business cpa, hha business plan & proof of financial ability to operate, healthcare tax accountant, healthcare accounting services, healthcare accounting companies miami, healthcare accountants, health care licensing application proof of financial ability to operate, health care agency business plan, good tax accountants near me, good accountant, gaap organizational costs, finding a good cpa, finding a cpa for small business, find a tax accountant, find a personal accountant, financial statements, financial accounting, does a small business need an accountant, do you need an accountant for small business, do i need an accountants or cpa, difference between s corp and llc, difference between llc and s corporation, difference between llc and s corp, difference between llc and corp, despachos de contadores en miami, despachos de contadores, despachos de contabilidad en miami, despachos contables en miami, despachos contables, declaracion de impuestos, cpa near me for small business, cpa miami florida, cpa miami fl, cpa miami, cpa in miami, cpa firms in miami florida, cpa firms in miami, cpa firm miami, cpa firm, cpa charge per hour, cpa certified professional accountant, cpa accounting, cpa, cost report preparation, cost report medicare, corporate tax, contadores publicos cerca de mi, contadores miami, contadores en miami, contadores cerca de mi, contadores, contador publico en miami, contador publico , contador publico near me, contador publico cerca de mi, contador miami florida, contador miami, contador en miami, contador accountants, contador, contabilidad financiera, condominium association audit, condo association audits, compiled financial statements, compare llc and s corp, companias de contabilidad en miami, cloud accounting miami, certified public accounting firm, certified public accountants, certified public accountant services, certified accountant, capitalizing start up costs, capitalized start up costs, capitalization of startup costs, business plan for home health care, business plan for home care agency, business plan for a home health care agency, business financial accounting, business accounting firms, business accountants, business accountant in miami, business accountant, bookkeeping services miami fl, bookkeeping services in miami, bookkeeping services, bookkeeping professionals, bookkeeping miami, bookkeeping, bookkeeper services, bookkeeper miami, bookkeeper in miami, bookkeeper, best online accountants for small business, best cpa for small business, best business accountants, best accounting firms in miami, best accounting firms for small business, best accountants in miami , best accountant, basic bookkeeping services, basic accounting services, are startup costs capitalized or expensed for gaap, ahca proof of financial ability to operate form 3100-0009, ahca proof of financial ability to operate, ahca form 3100-0009, ahca form 3100, ahca cpa, accounting tax firms, accounting software miami, accounting services miami fl, accounting services miami, accounting services in miami, accounting services, accounting professional, accounting principles miami, accounting miami, accounting in miami, accounting firms miami, accounting firms in miami, accounting firms in florida, accounting firms, accounting firm, accounting and tax services, accounting and tax outsourcing, accounting and tax, accounting, accountants vs cpa, accountants near me, accountants in florida, accountants for small business owners near me, accountants, accountant to help start a business, accountant miami, accountant in miami, accountant for my small business, accountant firms near me, accountant, accountancy service, a public accountant
Gustavo A Viera, Partner
Daivisi Viera, Partner

Benefits of Outsourcing Your Accounting

Virtual Accounting Services functions are migrated to an external Virtual Accountant has many benefits such as: 1) Cost reduction: The most apparent benefit of outsourcing accounting services to an accounting firm is the reduction in personnel related costs – recruitment, salaries, benefits, office space and other costs synonymous with staff. A number of businesses who outsource their business functions reported at least a 30% reduction in business costs without a decrease in productivity. 2) Quality of Work: Accountants thrive on reputation and to build their business they must offer a quality service. Businesses that outsource their accounting services benefit from a competitive market where firms must provide exceptional services to retain their clients. 3) Focus on core areas: Outsourcing allows a business to focus on the core business functions which can boost productivity by at least 32% according to a recent survey. Access to innovation: To maintain a competitive edge, accounting firms endeavour to stay at the cutting edge by investing in advanced accounting systems and techniques for the benefit of their clients. Rather than invest heavily on a new accounting system and staff training, organisations now prefer to outsource these services to benefit from these new technology developments.
4) Pool of Expertise: Businesses tend to benefit from a pool of experts and sustainable source of professional accountants. Reputable accounting firms recruit exceptional and qualified personnel to ensure they deliver on their service contracts and retain the loyalty of their clients. Companies that outsource their accounting services benefit from such expertise without the added cost of recruiting top level staff.
5) Faster Turnaround: Accountants operate based on targets and deadlines. They know the in and out of tax deadlines and other legal requirements, so they aim to file records on time by providing a quick turnaround service to their clients.

Accounting & Bookkeeping Services

Accounting & Bookkeeping Services provided by Accountants in Miami. Professional Accountants rendering accounting and bookkeeping services.
Facebook
Twitter
LinkedIn

Welcome to the Gutenberg Editor

The goal of this new editor is to make adding rich content to WordPress simple and enjoyable. This whole post is composed of pieces of content—somewhat similar to LEGO bricks—that you can move around and interact with. Move your cursor around and you’ll notice the different blocks light up with outlines and arrows. Press the

Read More »
Robopragma pkv Bandarqq Robopragma Robopragma upgrade akun pro PKV Games http://s3.ascp.org/index.html Parlay pkv games situs parlay bola terpercaya Sbotop dominoqq
pkv
pkv games
bandarqq pkv games mix parlay pkv Pkv Games