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Fraud auditors try to control a situation before something happens, whereas a forensic accountant may be hired after the fact. A forensic accountant is usually hired after a company suspects theft, fraud or embezzlement. If a company is taken to court by a former or current employee over a compensation dispute, a forensic accountant would […]

Item 2 doesn’t apply in this case, so it doesn’t matter if you’re subject to backup withholding. A bank or lending institution may ask for a W-9 as part of the process of setting up a new account, as interest and dividend payments are furnished through Form 1099-INT. Participants in a contest that may win […]

For example, if a company pays $12,000 for an annual insurance coverage, their monthly prepaid insurance expense is $1,000 ($12,000/12 months). This method guarantees that expenses are accurately allocated during the prepaid period, reflecting the steady utilization of insurance coverage. Prepaid insurance is nearly always classified as a current asset on the balance sheet, since […]

Content Do Bookkeeping the Right Way With a Bookkeeping Checklist Key Differences Take the confusion out of bookkeeping TestGorilla helps you choose the best candidates by evaluating the skills needed for bookkeeping Intuit Bookkeeping Professional Certificate Review A bookkeeper could also be involved in helping create the financial strategy of a business. LinkedIn Learning is […]