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‘Widespread misunderstanding’: Accountants cautioned on journal entries

‘Widespread misunderstanding’: Accountants cautioned on journal entries

Accountants have been cautioned from using accounting entries as a substitute for a transaction actually occurring, with the issue an ongoing pain point for the tax office.

  • Shared by Accountants Daily
  • July 10, 2019
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Speaking to Accountants Daily, former ATO technical director Vincent Licciardi said he has seen a widespread misunderstanding among the accounting industry about what accounting entries actually are and how they are used.

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