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Whether you actively seek to expand your practice, increase your efficiency, or "fill the gaps" with bookkeeping and accounting needs that arise during tax preparation, you'll wonder how you ever lived without this Handbook!
- Guidance, worksheets, and tons of journal entries showing how to record common transactions in tax-basis accounting records.
- Overview of ethical and regulatory considerations, working with client records, preparing financial statements.
- How to create the accounting records you need to prepare tax returns and provide valuable financial information to your clients.
- Just a few of the many topics covered: Bookkeeping basics; Recording tax adjustments in the general ledger; Reconciling the tax return and general ledger; Recording the purchase/creation of an entity; Booking equity transactions; Using software with client records; Accounting for inventory - LIFO, FIFO, UNICAP; Converting cash to accrual; Accounting for business liquidations - including departing partners and the sale of a business; Recording auto trade-ins; Recording shareholder loans; Changing accounting methods; Changing accounting years.
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These Similar Products Also Available:
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| Tab 1: References and Worksheets | | | Bank Reconciliation Form, Client Letters and Checklists, Other Sample Worksheets, Reference Sources.
| | Tab 2: Bookkeeping Basics | | | IRS Practice Regulations for EAs and CPAs, Other Professional Requirements.
| | Tab3: Business Start-Up Considerations | | | Recording the Purchase/Creation of an Entity, Accounting Methods—Cash vs. Accrual, Types of Entities, Tax Year Alternatives.
| | Tab 4: Working With Client Records | | | Using Software With Client Records, Preparing the Trial Balance, Recording Tax Adjustments in the General Ledger, Reconciling the Tax Return and General Ledger, Record Retention Requirements, Creating and Examples of Charts of Accounts.
| | Tab 5: Entity Changes | | | Converting Type of Entity, Changing Accounting Methods, Changing Accounting Years.
| | Tab 6: Revenue and Receivables | | | Converting Cash to Accrual, Revenue, Accounts Receivable, Bad Debt.
| | Tab 7: Inventory | | | LIFO, FIFO, UNICAP, Inventory Transactions, Cash Method of Accounting, Obsolescence, Shrinkage, Personal Use of Inventory.
| | Tab 8: Fixed Assets | | | Auto Trade-Ins and Other Like-Kind Exchanges, Employee Use of Company-Owned Automobiles, Automobile Allowances, Leasehold Improvements, Obsolete Fixed Assets, Purchased vs. Constructed Assets.
| | Tab 9: Investments | | | Investment Transactions, Original Issue Discount, Earnings on Investments, Reconciling Sales of Investments, Reinvested Dividends.
| | Tab 10: Intangible Assets | | | Recording Intangible Assets, Amortization.
| | Tab 11: Liabilities | | | Converting Cash to Accrual, Current Liabilities, Economic Performance Requirements, Bank Overdrafts, Income Received in Advance, Payroll Liabilities, Long-Term Debt.
| | Tab 12: Owners' Equity | | | Recording Equity Transactions, Equity Section of the Balance Sheet, Treasury Stock, Retained Earnings.
| | Tab 13: Expenses | | | Travel and Entertainment, Charitable Contributions, Income Taxes, Recurring Items.
| | Tab 14: Payroll and Employee Benefit Programs | | | Compensation and Salaries of Related Parties, Recording Payroll Information, Reconciling To Payroll Returns, Reclassifying Cost of Goods Sold, Independent Contractor Issues.
| | Tab 15: Interest Income and Expense | | | Notes Receivable, Notes Payable, Mortgages Payable, Imputed Interest, Interest Receivable, Interest Payable.
| | Tab 16: Business Liquidation/Dissolution | | | Departing Partner, Sale of Business, Satisfaction of Liabilities, Distribution of Assets and Liabilities.
| | Tab 17: Shareholder and Related Entity Transactions | | | Shareholder Loans, Shareholder Distributions, Shareholder Basis and At-Risk Rules, Rent, Other Expenses.
| | Tab 18: Index |
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