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.
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.
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.