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They prepare the income statement, balance sheet, and statement of cash flows using the accrual accounting method. Familiarity with Generally Accepted AccountingPrinciples (GAAP) is essential.
Outsourcing your bookkeeping to the right firm will give you the support you need for cashmanagement, AP/AR, financial close and taxes. You can also hire a consulting group to provide accounting support on a project basis.
What are we referring to when we say cash? And that difference can vary when we think about cash if we’re formally trained in accounting, we think that the generally accepted accountingprinciple of cash is the way to go. Because there’s certain principles that govern accounting.
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