Category: Assurance
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Management letters: Follow up on your auditor’s recommendations
Take your audited financials to the next level by implementing the improvements contained in the management letter.
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Do you know the signs of financial distress in a business?
Financial distress rarely happens overnight. There are usually red flags indicating that trouble is brewing, but it might take some effort to spot them.
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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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FAQs about fair value in accounting
Got questions about fair value under U.S. GAAP? Here are some answers to help take the guesswork out of reporting these estimates.
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Deciding between cash and accrual accounting methods
Do you know the differences between cash and accrual accounting methods? Some small business owners are unaware of the options that are now available to them.
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Timing counts: Reporting subsequent events
In today’s marketplace, conditions are ever-changing. By the time you issue year-end financial statements, you may be dealing with a major development that’s affecting your company’s performance. Which developments must be recognized or disclosed in your financials?
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New audit committee survey reveals trends on risks, ESG reporting, and more
What are the top concerns your organization is currently facing? This is just one of the questions audit committee members were asked in a recent survey about the audit process in 2021.
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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.
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Preparations vs. compilations
Small business owners: Can you name the key differences between prepared and compiled financial statements?
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Reporting and managing inventory
Are inefficient inventory practices dragging down your business? It’s important to regularly review your approach.
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Commission fraud: When salespeople get paid more than they’ve earned
When structured and managed correctly, a commission program can boost employee compensation and morale. But it also can tempt salespeople to commit fraud. Here’s how to contain the threat.