> Accrual Method Of Accounting
In the context of a financial audit, audit findings represent weaknesses or deficiencies in internal controls, or instances of noncompliance with applicable laws and regulations, that are presented in an audit report.
While most people regard accounting as boring and tedious work, it's arguably the most important part of running a business. Connecticut accountants keep track of what money is coming in and what money is going out. But if your company gets stuck with a disgruntled or corrupt employee, you can find that the business could be owing money to the government and that it's in worse financial shape than it is on paper. With the help of an accounting professional in Connecticut, you could straighten everything out quickly.
[2] Excludes excise taxes collected,[3] Includes tax-exempt organization,[4] Collections of tax (withheld and not withheld) [5] Includes estimated tax. [Money amounts are in thousands of dollars] in Connecticut
Total Internal Revenue collections [2]
40,343,675
Corporation income tax [3]
6,015,532
Total [4,5]
33,547,299
Income tax not withheld and SECA tax [4,5]
8,460,558
Induvidual income emploment taxes withheld and FICA tax [4]
25,003,358
Source: Internal Revenue Gross Collections, by State, Fiscal Year 2001
Accountants are responsible for a wide variety of duties. They make sure that a company is run efficiently, that records are kept accurately and that taxes are paid on time. Generally, accountants will prepare, analyze and verify financial documents.
There are four types of Connecticut accountants:
Public Accountants
Management Accountants
Government Accountants
Internal Accountants
Each accountant specializes in one particular field to provide specialized services for a company or for private clients. Their expertise is especially important at large public companies who are forced to disclose their financial status to investors or the Securities and Exchange Commission. But if the government discovers discrepancies in a company's financial records, the company and its executives could be in some big trouble: They could face hefty fines and jail time.
Our Connecticut Accountants can guide you through many circumstances arising from starting your own business and also assist you with all of your tax questions.
Some typical issues Connecticut Accountants may help you with include:
Auditing
General Accounting
Business Matters
Financial Planning
Mergers and Acquisitions
Contact our Connecticut Accountants
If you live in the following cities and need an accountant, you should contact our Connecticut Accountants as soon as possible:
Branford
Bridgeport
Bristol
Cheshire
Danbury
East Hartford
East Haven
Enfield
Fairfield
Glastonbury
Greenwich
Groton
Guilford
Hamden
Hartford
Manchester
Meriden
Middletown
Milford
Naugatuck
New Britain
New Haven
New London
New Milford
Newington
North Haven
Norwalk
Norwich
Ridgefield
Shelton
South Windsor
Southington
Stamford
Stratford
Torrington
Trumbull
Vernon Rockville
Wallingford
Waterbury
West Haven
Westport
Wethersfield
Windsor
Did You Know?
You want to hire an accountant that practices GAAP.
Generally accepted accounting principles (GAAP) are the accounting rules used to prepare financial statements for publicly traded companies and many private companies in the United States.
Connecticut Audio & Video
Accounting Standards
Audio, RM, 32 Kbps, 3:30, 1/16/2002
Bob Edwards talks with Chuck Landes, Director of Audit and Attest Standards at the American Institute of Certified Public Accountants. Source: National Public Radio
Connecticut External Sites
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Corporate Accounting 
US Possessions tax credit, regardless of
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