Articles by Lydia Hunter
CPA, CGFM
Principal
Read the latest insights that Lydia Hunter has contributed. Lydia is a Principal for BeachFleischman and a member of the firm’s Accounting & Assurance Department and Nonprofit Segment Team.
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Would your nonprofit be ready for an audit?
BeachFleischman explains how your nonprofit can stay audit-ready throughout the year. From building a readiness timeline to organizing documents, managing contracts, and leveraging technology, these practical tips will help your team prepare for financial statement and Single Audits with confidence.
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Confirmations explained: Why auditors contact your bank, customers, and lawyers
Learn why auditors contact your customers, banks, and attorneys during audits. Explore how external confirmations support accuracy, evolving standards, and the role of AI.
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Boost cash flow with AR Aging Reports: What businesses need to know in the CECL era
Learn how AR aging reports support CECL compliance, improve collections, and forecast cash flow. Discover tools to optimize receivables management.
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Inventory management systems: What’s right for your business?
Carrying too much inventory can be costly. Here are two alternative inventory management systems that could reduce your business’s inventory carrying costs and boost profits.
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Overhead allocations: Rising costs require a fresh, disciplined mindset
Here’s how to get control of your overhead allocations and make better-informed pricing decisions in today’s volatile marketplace.
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Why some small businesses are switching to tax-basis reporting
Are you fed up with all the recent accounting rule changes? For many private companies, the new lease standard that went into effect in 2022 was the last straw. Here’s an alternative reporting framework to consider.
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Auditing accounting estimates
Auditors are skeptical of accounting estimates. Here’s what they’re looking for and why, in recent years, they’ve upped the ante on audit procedures related to estimates and the use of specialists.
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Contingent liabilities: To report or not to report?
Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting contingencies can be challenging. Here’s a refresher on the accounting rules for disclosing and estimating expected losses.
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Goodwill in a bad economy
Internally generated goodwill isn’t on the balance sheet. But acquired goodwill is another story. Do you know the rules for reporting acquired goodwill and subsequently testing it for impairment? This is a hot button for many organizations today.
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Let your financial statements guide you to optimal business decisions
Your financial statements might seem like so many numbers organized into rows and columns, but they could very well hold the data points you need to make the right moves this year.