Asset Impairment in 2020 Financial Statements
Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be
Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently published new guidance on how companies can promote ‘risk appetite’ as part of decision-making. It is especially relevant in
Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to compile data from across the organization. Under normal conditions, this
Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting
Sustainability reports explain the impact of an organization’s activities on the economy, environment, and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reports, with
Many people are currently working from home to help prevent the spread of COVID-19. Your external auditors are no exception. Fortunately, in recent years, most audit firms have been investing
Private companies and most non-profits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the
Financial statements are not particularly meaningful without a relevant basis of comparison. There are two types of benchmarks that a company’s financials can be compared to – its own historical
Imagine this scenario: A company’s controller is hospitalized for COVID-19, and she is the only person inside the company who knows how its accounting and payroll software works. She also
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the coronavirus (COVID-19) crisis. Those provisions