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n a basic storage unit in an accounting system. Individual accounts accept debit and credit entries that reflect the different types of transactions made by the practice.
account book,
n a book in which the financial transactions of a business or profession are entered. Such books may be admitted as evidence.
account, open,
n a straightforward arrangement between the dental provider and the patient for the handling of financial payments due the dental provider and owed by the patient.
account, payable,
n a dollar amount owed to creditors for items or services purchased from them.
References in periodicals archive ?
Determining if the accountant meets the elements of being necessary or highly useful for providing legal advice depends on the facts and circumstances of each case.
Be sure that you have clear goals for your business and that your prospective accountant understands them," she says.
Most divorce cases involving an impartial accountant go to mediation, where the neutral CPA assists the mediator by presenting different financial options during the negotiations.
Also, in August, the SEC named Zoe-Vonna Palmrose as Deputy Chief Accountant for Professional Practice.
ACCOUNTANT is responsible for designing the engagement to provide reasonable assurance of detecting fraud, illegal acts, or violations of provisions of contracts or grant agreements that could have a material effect on the subject matter or audit opinion, and should be alert to situations or transactions that could be indicative of abuse.
The court in Kovel acknowledged the inherent difficulty in distinguishing between situations in which the lawyer needs the accountant to assist the lawyer in rendering legal advice to the taxpayer and other cases in which the lawyer or the client simply want to retain the accountant to perform accounting services unrelated to the rendering of legal advice.
Accountants are now asked to walk these clients through every aspect of the business, from leasing to buying and selling to financing.
Your accountant should also be willing to take the trouble to explain things clearly to you in a way you can understand.
Have your accountant set up your in-house bookkeeping system and periodically monitor it to ensure its effectiveness.
In other words, even if the accountant does not know of the third-party or the third-party is not within the "intended users of financial statements," the accountant is liable if the third-party is within a class of persons "who might reasonably be foreseen to rely upon the financial statements and the accountant's opinion.
Any experienced tax accountant will (or certainly should) know about every tax deduction listed in this book.
Local accountants expect business to jump during the coming tax season as puzzled taxpayers turn to them for help in deciphering the complex new rules and regulations.

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