When To Write Off Stale Receivables
Accounts receivables are classified under current assets on the balance sheet if you expect to collect them within a year or within the operating cycle, whichever is longer. However, unless
Accounts receivables are classified under current assets on the balance sheet if you expect to collect them within a year or within the operating cycle, whichever is longer. However, unless
The rules for reporting leasing transactions are changing. Though these changes have been delayed until 2021 for private companies (and non-profits), it is important to know the possible effects on
Auditors use various procedures to verify the amounts reported on your financial statements. In addition to reviewing original source documents and comparing trends from prior years, they may reach out
Roughly half of chief financial officers (CFO) believe an economic recession will hit by the end of 2020, and about three-quarters expect a recession by mid-2021, according to the 2019
Contingent liabilities reflect amounts that your business might owe if a specific ‘triggering’ event happens in the future. Sometimes companies are unclear when they are required to report a contingent
Finding the right person to lead your company’s finance and accounting department can be challenging in today’s tight labor market. While it may be tempting to simply promote an existing
Before you jump headfirst into the year-end financial reporting process, review the role independent audit committees play in providing investors and markets with high-quality, reliable financial information. Recent Securities and
Construction contractors, professional service firms, specialty manufacturers, and other companies that work on large projects often struggle with job costing. Full cost allocations are essential to gauging whether you are
Some benefit plans are required to include an opinion from an independent qualified public accountant (IQPA) when filing Form 5500 each year. The IQPA examines the plan’s financial statements and
You already may have reviewed a preliminary draft of your company’s year-end financial statements. But without a frame of reference, they do not mean much. That is why it is