NOW Analytics GAAP Align Spark Shift Energy Solutions
The analysis of the accounting practices of Spark Shift Energy Solutions revealed several areas requiring improvement to ensure compliance with GAAP (Generally Accepted Accounting Principles) and alignment with industry standards for electrical contractors (NAICS 238210). Key observations span across the Chart of Accounts, Balance Sheet, and Profit and Loss Statement, highlighting issues such as misclassified accounts, inconsistent revenue and expense reporting, missing depreciation, and insufficient disclosures for liabilities and related party transactions.
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