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Accounting for property taxes

Real estate and personal property taxes can be a little tricky for some people to account for. For instance, in Arizona, taxes for the calendar year are generally due in two installments. The first installment for the first half of the year is due on October 1 and delinquent on November 1. The second installment …

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Compilations, Reviews, and Audits – What’s the Difference?

Banks and other interested parties are increasingly requesting financial statements prepared in accordance with generally accepted accounting principles (or other applicable financial reporting framework) that have either been compiled, reviewed or audited by an independent Certified Public Accountant.  There are varying degrees of service and reliability provided by a compilation, review or audit engagement so …

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