Why Can’t My Profitable Business Pay Its Bills?
If your profitable business has trouble making ends meet, it’s not alone. Many business owners mistakenly equate profits with cash flow, leading to ...
New-and-Improved Accounting Rules for Common Control Leases
On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The updated ...
Beware of the Gray Areas in Accounting
Accounting and auditing standards have come under scrutiny in the wake of recent high-profile bank failures. Investigations are currently underway ...
Coming Soon: 5 Accounting Rules that Take Affect in 2023
It can be challenging to keep track of which accounting rules are changing, when the changes kick in and for which types of entities. Plus, ...
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ASC 842: Impact of New Lease Accounting Standard on Private Companies
The long-awaited accounting standards update (ASU) for leases is finally at our doorstep. ASU 2016-02, and its subsequently issued amendments, ...
Worried About An IRS Audit? Prepare In Advance
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your ...
FASB Proposes Last-Minute Changes To Lease Accounting Rules
Accounting Standards Codification Topic 842, Leases, requires organizations to report the full magnitude of their long-term lease obligations on ...
Using Agreed-Upon Procedures to Target Specific Items of Concern
Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a ...
How External Confirmations Are Used During an Audit
Risks abound in today’s uncertain marketplace. Nearly two-thirds of senior finance leaders said that the volume and complexity of corporate risks ...