Navigating the percentage-of-completion method

September 11, 2023

The accounting rules for reporting income from long-term contracts for book and tax purposes can be confusing. Here’s a brief overview of the accounting rules.

Financial statements at a glance

September 1, 2023

Can you name the three reports that make up a comprehensive set of financial statements under U.S. GAAP? To get a holistic assessment of your organization’s performance, it’s important to look beyond profits.

New report identifies high-risk areas in financial reporting

August 25, 2023

Which areas of your organization’s financial statements pose the greatest risk of material misstatement? Here’s a recent report that may help identify high-risk accounts and transactions.

Overhead allocations: Rising costs require a fresh, disciplined mindset

August 22, 2023

Here’s how to get control of your overhead allocations and make better-informed pricing decisions in today’s volatile marketplace.

Reporting UTPs on your financial statements

August 15, 2023

Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Here’s an overview of the accounting rules for uncertain tax positions under U.S. GAAP.

5 steps to track vehicle mileage in QuickBooks

August 14, 2023

Keeping tabs on business mileage can be time-consuming. Here’s how to use accounting software to simplify matters.