Monthly: GAAP Balance Sheet and Income Statement

RIA firms are expected to maintain their accounting records according to Generally Accepted Accounting Principles, or GAAP. This means reconciling the previous month's financials and generating a monthly balance sheet and income statement. The SEC and most state jurisdictions do not specify the date by which this must be done; those that do tend to use the 10th of the following month. The firm's accounting must be done on an accrual basis, not on a cash basis. Many accountants do not realize... For details, click here: https://community.cs2compliance.com/event/monthly-gaap-balance-sheet-and-income-statement-7 https://community.cs2compliance.com/event/monthly-gaap-balance-sheet-and-income-statement-7