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Risk is a fact of life in business. There are basic risks that apply to every business, but certain industries face unique risks in their field. Can you identify bookkeeping risks?
Common Small Business Bookkeeping Problems:
Accountants, tax professionals, and audit firms, are example, all gather, process, and store sensitive client data. But they don’t just crunch numbers. They must also contend with individual and corporate clients who may be anxious or worried about tax liabilities, a myriad of federal and state regulations, increasingly dense and ever-changing tax codes, and immovable deadlines that can ratchet up the stress factor and make for very long workdays (and nights) at certain times of the year.
Common Accounting Mistakes That Put Small Businesses at Risk: