Cutoffs: What Counts in 2020 vs. 2021
As year end approaches, it is a good idea for calendar-year entities to review the guidelines for recognizing revenue and expenses. There are specific rules regarding accounting cutoffs under U.S.
As year end approaches, it is a good idea for calendar-year entities to review the guidelines for recognizing revenue and expenses. There are specific rules regarding accounting cutoffs under U.S.
From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners
The coming audit season might be much different than past seasons. As many companies continue to operate remotely during the COVID-19 pandemic, audit procedures are being adjusted accordingly. Here is
A conflict of interest could impair your auditor’s objectivity and integrity and potentially compromise you company’s financial statements. That is why it is important to identify and manage potential conflicts
Cash flow is a top concern for most businesses today and forecasts can help you predict potential shortfalls and proactively address working capital gaps. They also can help avoid late
On September 30, the Financial Accounting Standards Board (FASB) finalized a rule to defer the effective date of the updated long-term insurance standard for a second time. The deferral will
Remote audit procedures can help streamline the audit process and protect the parties from health risks during the COVID-19 crisis. However, seeing people can be essential when it comes to
On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other non-profit organizations receive known as
Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to injury, some also have fallen victim to arson, looting, or natural
Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic will