Spotlight on auditor independence

Thursday, May 09, 2024
Auditor independence is the cornerstone of the accounting profession. Auditors’ commitment to follow the standards set forth by the American Institute of Certified Public Accountants (AICPA), the Securities and Exchange...... Read More

Cash vs. accrual accounting: What’s the difference?

Thursday, May 02, 2024
Financial statements are critical to monitoring your business’s financial health. In addition to helping management make informed business decisions, year-end and interim financial statements may be required by lenders, investors...... Read More

Why it’s important to get your company’s financials done on time

Thursday, April 25, 2024
Have you completed your company’s year-end financial statements yet? Most calendar-year entities issue their year-end financials by March of the following year. Lenders and investors may think the worst if...... Read More

Auditing revenue recognition

Thursday, April 18, 2024
The top line of an income statement for a for-profit business is revenue (or sales). Reporting this line item correctly is critical to producing accurate financial statements. Under U.S. Generally...... Read More

Liquidity overload: Why having too much cash may be bad for business

Thursday, April 11, 2024
In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have imminent plans to deploy their reserves. However, excessive “rainy day”...... Read More

Inventory management systems: What’s right for your business?

Thursday, April 04, 2024
If your business has significant inventory on its balance sheet, it can be costly. The carrying costs of inventory include warehousing, salaries, insurance, taxes, and transportation, as well as depreciation...... Read More

Solid financial reporting can help attract financing

Thursday, March 28, 2024
Financial reporting plays a key role when a business needs funds for continued operations and strategic investment opportunities. Lenders and investors will generally want to review your company’s financial statements...... Read More

Best Practices for M&A Due Diligence

Thursday, March 21, 2024
Engaging in a merger or acquisition (M&A) can help your business grow, but it also can be risky. Buyers must understand the strengths and weaknesses of their intended partners or...... Read More

Financial Data Transparency Act

Friday, March 15, 2024
As 2022 drew to a close, a surprising turn of events in municipal finance occurred: A federal bill to enhance financial data transparency for state and local governments unexpectedly became...... Read More

Auditing Concepts: Close-Up on Materiality

Thursday, March 14, 2024
As audit season begins for calendar-year entities, it’s important to review issues that may arise during fieldwork. One common issue is materiality. This concept is used to determine what’s important...... Read More