Overview of offsetting rules
Derivatives and other arrangements can help your business hedge against financial risks. How should these transactions be presented on your financial statements?
Category: Assurance
Is your company ready for year-end inventory counts?
For retailers, manufacturers, and many other businesses, a significant amount of working capital is tied up in inventory. A year-end physical count of raw materials, work-in-progress, and finished goods is essential.
Shareholder advances: Debt or equity?
Times are tough for many companies. If you need to advance your business money to make ends meet, how should the transaction be reported on your financial statements?
4 ways to prepare for next year’s audit
It’s time to prepare for next year’s audit. Are you ready for fieldwork to begin?
FASB approves updated rules for disclosing income taxes
Updated rules have been approved that will require more detailed disclosures on income taxes to help stakeholders better understand your company’s tax position. Here’s what you should know.
Navigating the percentage-of-completion method
The accounting rules for reporting income from long-term contracts for book and tax purposes can be confusing. Here’s a brief overview of the accounting rules.
Financial statements at a glance
Can you name the three reports that make up a comprehensive set of financial statements under U.S. GAAP? To get a holistic assessment of your organization’s performance, it’s important to look beyond profits.
New report identifies high-risk areas in financial reporting
Which areas of your organization’s financial statements pose the greatest risk of material misstatement? Here’s a recent report that may help identify high-risk accounts and transactions.
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.
Reporting UTPs on your financial statements
Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Here’s an overview of the accounting rules for uncertain tax positions under U.S. GAAP.
Supplement your financial statements with timely flash reports
Here’s how daily or weekly flash reports can help your organization become more responsive to changing market conditions.
Start cross-training your accounting team today
There’s a talent crisis in the accounting profession that’s getting worse every year. Cross-training is one way your organization can attract and retain skilled accounting personnel.