In baseball, the triple play is a high-impact defensive feat that knocks the competition out of the inning. In business, you have your own version — three key financial statements
In accrual-basis accounting, timing is everything. One core principle of U.S. Generally Accepted Accounting Principles (GAAP) is the matching concept, which requires organizations to recognize expenses in the same period
Although footnote disclosures appear at the end of reviewed or audited financial statements, they’re far more than a regulatory formality. They provide critical insight into a company’s accounting policies, unusual
To stay ahead of their financial responsibilities, one smart habit that small business owners and bookkeepers can adopt is performing a mid-year QuickBooks® cleanup. Waiting until year end to review
If your organization’s financial statements are audited, chances are your auditor will send out external confirmations. These information requests may be sent directly to your customers, vendors, banks, attorneys, and
Turnover in finance and accounting (F&A) leadership is on the rise. In 2024, chief financial officer (CFO) turnover among Standard & Poor’s 500 companies hit 17.8%, tying a record high
In this uncertain economic climate, organizations face mounting pressures that can increase the risk of fraudulent activities. Auditors play a critical role in identifying and mitigating these risks through comprehensive
The Financial Accounting Standards Board (FASB) finalized, on May 12, 2025, new guidance that clarifies how to identify the acquirer in mergers and acquisitions (M&As) involving variable interest entities (VIEs). The
The month-end close is a pain point for many small to midsize organizations. While internal accounting teams often aim to wrap up the close within three days, a recent survey
For many businesses, accounts receivable (AR) are more than just a line item on the balance sheet. This account is a key indicator of potential cash flow, customer relationships, and
