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.
Tag: financial reporting
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.
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.
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?
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.
8 ways to insulate your construction company against rising costs
Sky-high costs for labor and materials are still putting a chill on many construction companies’ profitability. Contractors, click here for eight ways you can protect yourself.
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!
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.
Accounting for property, plant and equipment assets
Which asset costs must be capitalized, how long will an asset provide value and which depreciation method is appropriate? Click the link for answers to common questions on reporting property, plant and equipment.
