/Audit & Accounting

Avoiding potential Not-For Profit Accounting Pitfalls

By |2019-06-13T16:54:54+00:00May 15th, 2019|Audit & Accounting, Non-profits|

With almost any organization, your accounting function is important and should be reviewed regularly. I have seen the following six errors made by not-for-profits organizations. Make sure your finance department addresses each area.

Is it time for your mid-year checkup?

By |2018-07-19T00:43:09+00:00July 19th, 2018|Audit & Accounting|

Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results. Midyear financial reports can be a great tool to assess where you are. When reviewing midyear financial reports, however, recognize their potential shortcomings. These reports might [...]

How an asset sale could be to your company’s advantage

By |2018-05-18T18:05:22+00:00May 18th, 2018|M&A|

Even if your company offers strong growth potential, a business buyer may actually be more interested in something more tangible. For some buyers, an acquisition’s value lies in a specific set of assets, such as real estate, intellectual property, or ownership stakes in other businesses. Companies with valuable assets are in a strong position when [...]

How public companies can get ready for the new lease accounting standard

By |2018-05-09T19:01:11+00:00May 9th, 2018|Audit & Accounting|

A new lease accounting standard goes into effect in 2019 for public companies, which will change the reporting for leases. Although private companies have been granted a one-year reprieve, no business should wait until the last minute to start the implementation process. Some recently revised guidance is intended to ease implementation. Here’s an overview of what’s [...]

3 Ways to Prepare for an External Audit

By |2018-03-22T17:06:51+00:00March 22nd, 2018|Audit & Accounting|

If your company issues audited financial statements and follows a calendar year end, the following steps are a part of your existing external audit preparation procedures. Once the engagement letter is signed, the process begins with preliminary financial statements and possible year-end physical inventory counts. However, audits can be complicated, so taking time to additionally streamline [...]

What Public Companies Need to Know: FASB’s New Lease Accounting Standard

By |2017-08-18T17:34:34+00:00August 18th, 2017|Audit & Accounting|

Recently, the Financial Accounting Standards Board (FASB) issued its long-awaited, new lease accounting standard update, ASU No. 2016-02, Leases (Topic 842). This ASU affects the financial statements of companies that lease real property, equipment, vehicles and other fixed assets. Here are four things public companies need to know to implement and be compliant with [...]

Get your financial statements on track

By |2017-07-07T17:26:42+00:00July 7th, 2017|Audit & Accounting|

Do you procrastinate when it comes to closing your books and deliver your year-end financial statements late? Lenders and investors may think the worst if a company’s financial statements aren’t submitted in a timely manner. Here are three assumptions your stakeholders could make when your business has a late financial statement. 1. You’re hiding negative results No [...]

How can your company’s income statement improve business operations?

By |2017-06-15T00:29:43+00:00June 15th, 2017|Audit & Accounting|

By midyear, most businesses that follow U.S. Generally Accepted Accounting Principles (GAAP) have issued their year-end financial statements. But how many have actually used them to improve business operations in the future? Producing financial statements is more than a matter of compliance — owners and managers can use them to analyze performance and find ways [...]

Avoiding Potential Not-For-Profit Accounting Pitfalls

By |2019-06-13T21:33:28+00:00June 11th, 2017|Audit & Accounting, Non-profits|

With almost any organization, your accounting function is important and should be reviewed regularly. I have seen the following six errors made by not-for-profits organizations. Make sure your finance department addresses each area.

FASB Revises Reporting Requirements for Employee Share-Based Payments

By |2017-06-01T00:16:33+00:00June 1st, 2017|Audit & Accounting|

Has your company found the process of reporting share based payments, such as employee stock options and restricted stock, overly complex? The Financial Accounting Standards Board (FASB) agrees — and it has simplified the rules starting in 2017 for public companies and 2018 for private companies. Here’s how. Old rules Under current U.S. Generally Accepted [...]

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