Episode Details
Back to EpisodesTop Ten Strategies for Effective Management and Organizational Growth - Accounting ARC, Ep. 4
Description
The takeaways crucial to ensuring sustainability and growth.
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 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.
- Full episode notes here: https://cpatrendlines.com/2024/05/28/accounting-arc-with-liz-mason-byron-patrick-and-donny-shimamoto-center-for-accounting-transformation-strategies-for-effective-management-and-organizational-growtharc-4/
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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.