In recent years, environmental, social and governance (ESG) issues have become a hot topic. Many companies voluntarily include so-called “sustainability disclosures” about these issues in their financial…Read More
Archive for the ‘Financial Reporting’ Category
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How to Trim the Fat From Your Inventory
Inventory is expensive. So, it needs to be as lean as possible. Here are some smart ways to cut back inventory without compromising revenue and customer service….Read More
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Beware of Unexpected Tax Liabilities Under New Accounting and Tax Rules!
The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting…Read More
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Identifying and reporting critical audit matters
For over 40 years, the Securities and Exchange Commission (SEC) has required only a simple pass-fail statement in public companies’ audit reports. But the deadline for mandatory…Read More
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Use pay-ratio disclosures with caution
Starting in 2018, certain public companies must disclose the ratio of their CEO’s annual compensation to that of its “median employee.” The rule allows for significant flexibility…Read More
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It’s important to monitor your SEC filing status
As public companies grow, they may move from one filing status or issuer category to another. Recent and proposed changes to the Securities and Exchange Commission (SEC)…Read More
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Auditing the use of estimates and specialists
Complex accounting estimates — such as allowances for doubtful accounts, impairments of long-lived assets, and valuations of financial and nonfinancial assets — have been blamed for many…Read More
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Hidden liabilities: What’s excluded from the balance sheet?
Financial statements help investors and lenders monitor a company’s performance. However, financial statements may not provide a full picture of financial health. What’s undisclosed could be just…Read More
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Transitioning to remote audits
Are you comfortable communicating electronically with your auditors? If so, a logical next step might be to transition from on-site audit procedures to a more “remote” approach….Read More
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Consider these financial reporting issues before going private
Issuing stock on the public markets isn’t right for every business. Some public companies decide to delist — or “go private” — often due to the high…Read More