Measuring Fair Value For Financial Reporting
Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported at fair value, such as asset retirement obligations and
Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported at fair value, such as asset retirement obligations and
Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept
More than half of recent college graduates plan to start a business someday, according to the results of a survey published in August by the American Institute of CPAs (AICPA).
Audited financial statements come with a special bonus: a ‘management letter’ that recommends ways to improve your business. That is free advice from financial pros who have seen hundreds of
What is the purpose of a corporation? For the last 50 years, the answer was “to maximize shareholder value.” But, on August 19, CEOs of 181 leading U.S. businesses, including
Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm. Here is what grant recipients should
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, such a disposal
It is important for franchisors to periodically audit individual franchisees. These routine ‘check-ups’ are especially valuable in a store’s early years of operations or if performance starts to deteriorate. They
The average company’s balance sheet understates its value by 80 percent, according to Sarah Tomolonius, co-founder of the Sustainability Investment Leadership Council. Why? Intangible assets are not recorded on the
On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply