The takeaways crucial to ensuring business sustainability and continuous improvement.
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Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation
When a CPA realizes his business-owner client has never paid sales tax, it can be a jaw-dropping moment.
When they realize the client has owned and operated a successful business for years and is nearing 100 years old, it could cause an aneurysm.
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Byron Patrick, CPA/CITP, CGMA, vice president of Client Success at the B3 Method Institute, kicks off the fourth episode of Accounting ARC by explaining how his experience in this real-world example illuminates the often-overlooked complexities of sales tax compliance. Patrick recounts how the scenario underscores the necessity of keeping accurate records and the potential disasters of neglect, emphasizing the long-term impact on business operations.
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