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Articles by Accounting & Assurance Department

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Review the comprehensive list of blog posts and insights on accounting, tax, and audit from Accounting & Assurance Department - Phoenix Tucson AZ.

Private companies: Are you on track to meet the 2022 deadline for the updated lease standard?

August 20, 2021 September 23, 2021 Accounting & Assurance Department Assurance, Nonprofit FASB, GAAP, leases, long-term leases

Coming soon: Private companies and nonprofits that rent equipment, vehicles and real estate will need to update their accounting systems for major changes to the rules for long-term leases under U.S. GAAP.

Don’t assume your profitable company has strong cash flow

June 17, 2021 October 6, 2021 Accounting & Assurance Department Assurance cash flow, financial statements, GAAP

If your business’s bottom line is strong, that’s good news. But you still need to keep a close eye on cash flow. Here’s why.

Using your financial statements to evaluate capital budgeting decisions

May 21, 2021 Accounting & Assurance Department Assurance, Financial & Professional Services, Manufacturing capital investment, financial statements, growth, strategic investments

Taking your business to the next level may require a major infusion of capital. A disciplined approach to evaluating capital investment decisions can help get the biggest bang for your buck.

How auditors assess cyber risks

March 22, 2021 March 25, 2021 Accounting & Assurance Department Assurance, SOAR audit, cybersecurity, oversight, PCAOB, risk, risk assessment

Companies that fail to secure sensitive customer data and intellectual property won’t last long. Auditors can help measure and mitigate your company’s risk of a cyberattack.

Accounting for property, plant and equipment assets

February 19, 2021 February 22, 2021 Accounting & Assurance Department Assurance depreciation, financial reporting, financial statements, GAAP, PPE, Section 179

Which asset costs must be capitalized, how long will an asset provide value and which depreciation method is appropriate? Click the link for answers to common questions on reporting property, plant and equipment.

Should my distressed company consider a debt restructuring?

February 15, 2021 February 19, 2021 Accounting & Assurance Department Assurance, COVID-19 COVID-19, debt, debt restructuring, FASB

Many companies are struggling to make their loan payments during the COVID-19 crisis. Debt restructuring could provide relief.

Financial keys to securing a commercial loan

February 8, 2021 February 17, 2021 Accounting & Assurance Department Assurance commercial loan, FASB, GAAP

Applying for a commercial loan can be tedious and time-consuming, especially in today’s uncertain marketplace. Here’s what to expect.

Footnote disclosures: The story behind the numbers

February 1, 2021 February 2, 2021 Accounting & Assurance Department Assurance FASB, financial statement footnotes, financial statements

Financial statements do more than quantify a company’s performance. They also provide qualitative information about business operations and risk factors. Here are the basics about footnote disclosures.

View your financial statements through the right lens

January 28, 2021 February 2, 2021 Accounting & Assurance Department Assurance EBITDA, financial statements, KPIs

Business owners, do you get a little bleary-eyed looking at your financial statements? The right KPIs can help you see things more clearly.

Assessing and mitigating key person risks

January 21, 2021 January 22, 2021 Accounting & Assurance Department Assurance key people, key person, risk, risk management

Is the success of your business tied to certain “key” people? Many startups, professional service firms and small businesses are at risk of losing a key person. Here are ways to identify and shore up this critical risk factor.

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