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Benford’s Law is a long-standing statistical precept that remains as relevant and widely accepted in fighting fraud as ever. By wielding it effectively, experts can cut down fraudsters who unknowingly reveal their wrongdoings in dubious digits. Historical background The rule is named for Frank Benford, a physicist...

Did you know that the Financial Accounting Standards Board recently extended the simplified private-company accounting alternatives to non-profit organizations? Many merging non-profits, including educational institutions and hospitals, welcome these practical expedients. Here are the details. Alternative for goodwill The first alternative accounting method allows for the amortization...