Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal…Read More
Archive for the ‘Financial Reporting’ Category
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Why Do Companies Restate Financial Results?
Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies that amended their annual reports increased by…Read More
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Reporting Discontinued Operations
Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset group or another component. In certain situations,…Read More
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Let’s Find a Better Way to Manage Your Receivables
Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to…Read More
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What States are Saying About Gender Pay Discrimination in Hiring
According to the American Bar Association (ABA): Gender-based wage discrimination remains a pernicious problem in the workplace despite enactment over 50 years ago of the Equal Pay…Read More
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The Untouchables: Getting a Handle on Intangibles
The average company’s balance sheet understates its value by 80%, according to Sarah Tomolonius, co-founder of the Sustainability Investment Leadership Council. Why? Intangible assets aren’t recorded on…Read More
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In Pursuit of Global Tax Transparency
Aggressive global tax strategies expose investors and other stakeholders to potential risks. A recent study highlights this problem and calls for rules mandating more detailed disclosures.Read More
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Lease Accounting for Contractors: New Rules on the Way
It’s been 13 years since the Financial Accounting Standards Board (FASB) started overhauling its lease standard. For some time now, the new rules have been scheduled to…Read More
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Private Companies: Beware of SEC Scrutiny
The Securities and Exchange Commission (SEC) doesn’t monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of…Read More
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Predicting Future Performance
CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. Prospective reporting options There are three types…Read More