It’s almost time for year-end inventory counts. You might need to alter your approach if COVID-19 cases are rising in locations your inventory is stored.Read More
Archive for the ‘Audit’ Category
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Preparing for the Possibility of a Remote Audit
Thanks to COVID-19, many companies are preparing for a remote audit. Are you ready for this brave new world in financial reporting?Read More
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Accrual-Basis Accounting: 2020 Revenue Recognition Cutoffs
Accounting is time-sensitive. Here’s a primer on cutoffs for reporting revenue and expenses to help companies that use accrual-basis accounting.Read More
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Beware of Vishing (Voice Phishing) Scams
A recent fraud alert from the Cybersecurity Infrastructure Security Agency explains how scammers use voice phishing (or “vishing”) to access company recordsRead More
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How to Report COVID-19-Related Debt Restructuring
COVID-19-related loan modifications may be exempt from the complex accounting rules for troubled debt restructurings, if certain conditions are met.Read More
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Reporting Discontinued Operations
Many businesses have undergone strategic shifts during the pandemic–ensure that change is within the scope of accounting rules for discontinued operations.Read More
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Avoid Personal Liability for Unpaid Federal Payroll Taxes
Though cash may be tight, employers should avoid the temptation to skimp on federal taxes that have been withheld from employees’ paychecks.Read More
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Levels of Assurance: Choosing the Right Option for Your Business Today
Here are some important factors to consider when evaluating whether your company’s current level of assurance is the best option.Read More
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How to Plan for a PPP Audit
The SBA and Treasury announced PPP loan borrowers of $2 million or more should expect an audit. Here are some ideas to help facilitate the process.Read More
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Overcoming the Challenges of Remote Auditing During the COVID-19 Crisis
Here is how you can facilitate the transition to remote auditing and help ensure timely, transparent financial reporting.Read More