Assurance Tag

The Securities and Exchange Commission requires certain public companies to publish quarterly financial statements to give investors insight into midyear performance. Though interim reporting generally is not required for private companies, stakeholders in smaller entities can benefit even more than those of public companies from...

In today’s global economy, multinational corporations engage in numerous cross-border transactions. But how they report those transactions is often vague. To help reduce stakeholders’ exposure to potential hidden risks, the Financial Accountability & Corporate Transparency (FACT) Coalition wants multinationals to disclose more information about corporate...

CPAs typically report historical financial performance, but sometimes they are hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports to choose from when predicting future performance: These prospective statements present an entity’s expected financial position, results...

There are three types of financial statements under U.S. Generally Accepted Accounting Principles. Each one reveals different, but equally important, information about your company’s financial performance. And, together, they can be analyzed to help owners, management, lenders, and investors make informed business decisions. Profit or loss The...

Businesses use two types of audits to gauge financial results: internal and external. Here is a closer look at how they measure up. Focus Internal auditors go beyond traditional financial reporting. They focus on a company’s internal controls, accounting processes, and ability to mitigate risk. Internal auditors...