Tax time is often a time when companies revisit their processes and procedures to see that they’re operating in a way to maximize profits. Many small businesses with revenues up to $20 million might even re-visit their accounting methods. If you’ve been using the cash-based method of accounting, it may be time to switch to accrual based accounting. Here are three reasons it could be time to make a change in your small business accounting methods.
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IFRS stands for International Financial Reporting Standards and is essentially a guideline for doing business with.
