Home
/
Posts
/
News
/
‘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.

by Shared by Accountants Daily | 9 Jul, 2019

Government needs to broaden the base and lift the rate of GST, says IPA CEO

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.