Category: Assurance
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Bridging the Gap: Why Profits Don’t Always Mean Positive Cash Flow
Bills, bills, bills! From utilities and payroll to taxes and supplies, there’s always a bill that needs to be paid when you own a small business. When cash is short, it pays to understand the differences between profits and cash flow.
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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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FASB votes to exempt private companies from disaggregation of income statement project
As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB’s project to up the ante on expense disclosures.
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Overview of discontinued operations reporting
In today’s uncertain markets, your business may decide to discontinue unprofitable product lines or business units. Are you up to speed on the accounting rules for reporting discontinued operations?
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Achieving the right balance of working capital
Do you know the three keys to lowering your company’s working capital requirements?
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New-and-improved accounting rules for common control leases
Coming soon! The FASB recently issued amendments to help organizations that rent property from related parties report those arrangements on their balance sheets.
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Demystifying deferred taxes
When reviewing a company’s financial statements, you may wonder: What are deferred taxes and how does the company quantify them? Wonder no more.
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How to get more from your company’s income statement
Financial reporting is more than an exercise in compliance. Proactive owners and managers view their income statements as a diagnostic tool to gauge performance and fix inefficiencies and anomalies.
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Common accounting pitfalls for startups to avoid
Entrepreneurs often invest blood, sweat and tears to start new businesses. But few are experts in financial reporting. Don’t let accounting mishaps derail your startup!
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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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How to report software costs
Accounting for software costs is one of the gray areas in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.