Accounting Archives - Experienced Las Vegas CPA Firm | Larry L. Bertsch, CPA & Associates

December 15, 2021 By LLBCPA

How to Prepare Financial Statements For Your Business

You went into business to do whatever it is that you love to do. Unfortunately, somewhere along the line, you learned a hard lesson … running a business requires a lot more tasks than what you originally signed up for. One of the most challenging aspects – a responsibility that strikes fear in the hearts of anyone without an accounting degree – is keeping track of your financials.

Financial statements are not only necessary when you seek credit or a loan, or when you have a board or investors you have to answer to. They are also important for you to understand where your business is and what you need to do to make it better. Thankfully, running financial reports on your company doesn’t have to be a frightening experience. With the right know-how and the right expert support with your bookkeeping, you’ll become a “numbers person” in no time.

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November 15, 2021 By LLBCPA

8 End-of-the-Year Accounting Resolutions To Better Your Business

The COVID-19 pandemic has thrown most businesses through a loop.

For a while, it looked like we may never get back to normal, and now that “normalcy” seems around the corner, we’ve run into a host of new problems. They range from labor shortages to supply chain issues to what’s become known as a “hybrid workforce,” where formerly remote employees are now splitting time between the office and home.

With all these challenges that seem to continue growing, the last thing you should worry about as a business owner is your accounting. Now is the perfect time to resolve to hire a professional accounting firm to take care of the details you don’t have enough hours in the day to tackle.

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October 21, 2020 By Larry L. Bertsch, CPA and Associates

How Can I Detect Fraud or Embezzlement in My Business?

One of the many responsibilities of a business owner is that of detecting fraud and embezzlement. Most cases of theft on this level are carried out by an employee or a trusted business insider, such as an accountant. The ripple effects of a major theft incident can create serious complications that can linger on for many years, and in some extreme cases, it can even cause a business to completely shut down. Fortunately, there are several methods that business owners and high-level managers alike can utilize to successfully detect fraud and embezzlement before it’s too late.

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September 15, 2020 By Larry L. Bertsch, CPA and Associates

How Forensic Accountants Help the Divorce Process

A divorce can be a stressful experience, especially when it concerns sorting out complicated financial matters. To make the process run as smoothly as possible, divorce lawyers and people seeking a divorce often hire a forensic accountant to help locate hidden assets.

Using a forensic accountant in a divorce can help reveal important information that can facilitate divorce proceedings. The forensic accountant can help achieve complete financial transparency by uncovering hidden assets. They can also provide professional asset and income valuations, determine the correct child support income, and so much more. Read on to find out why you need a forensic accountant during a divorce.

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June 22, 2020 By Larry L. Bertsch, CPA and Associates

What Are the Principles of GAAP?

If you’re doing accounting tasks for your business, you’ve probably heard of the Generally Accepted Accounting Principles (GAAP), but you may now know exactly what they are. However, applying them will ensure that your business’s finances are represented fairly and accurately. So, what are the principles of GAAP? Read on to learn about the principles and how they should be used for your own accounting practices.

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