Generally, when reviewing their income statements, business owners tend to focus on profits (or losses). However, focusing solely on the bottom line can lead to mismanagement and missed opportunities. Instead,
When it comes to financial reporting, entities have different needs depending on their size, stakeholders, and regulatory requirements. Choosing the right type of accounting engagement is crucial for making sure
Profitable organizations often experience cash flow shortages, especially if they’re experiencing rapid growth. Business owners may wonder why they owe taxes when they regularly struggle to find cash to cover
In financial reporting, we know timing is critical. Under accrual-basis accounting, the end of the accounting period serves as a “cutoff” for when organizations recognize revenue and expenses. However, some
Public organizations are required to evaluate and report on internal controls over financial reporting using a recognized control framework under rules set forth by the Securities and Exchange Commission (SEC).
Is your organization planning to hire a new chief financial officer (CFO)? According to a recent survey, hiring managers look for more than financial expertise when vetting CFO candidates. In
According to a recent report, the average cost of a data breach is up 10% from last year, reaching $4.88 million. As organizations increasingly rely on technology, cyberattacks are becoming
For accurate financial reporting, bookkeeping fundamentals are essential. Using software solutions such as QuickBooks®, NetSuite®, or Xero™ can simplify double-entry accounting. However, knowing how the process works can provide reassurance
External auditors have primary responsibility for audit quality. However, in the financial reporting process, the audit committee plays an important oversight role. When evaluating the composition of your organization’s audit
Proactive working capital management is essential to successful organizational operations. According to a new study by The Hackett Group, a digital transformation and AI strategy consulting firm, organizations, on average,
