Consider stress testing to lower risks

July 1, 2022

Businesses today are dealing with unprecedented levels of operational, financial, compliance, reputational and strategic risks. Stress testing may be the key to keeping those risks in check.

What are the typical steps in a DOL audit?

June 24, 2022

For employers that sponsor an ERISA-compliant retirement or health care plan, a DOL audit is always a possibility. Here’s what to expect if it happens to you.

Warning for retailers and other businesses using the LIFO method

June 22, 2022

Normally, the last-in, first-out (LIFO) accounting method is an effective way to defer taxes. But beware: Retailers and other businesses that use this method could be hit with an unexpected tax bill if their inventory shrinks significantly due to supply chain issues.

Private business owners: Don’t wait until year end to evaluate financial performance

June 16, 2022

The year is almost half over. Is your business on track to meet its goals for 2022? Interim financial reporting can help gauge your progress.

Dig deeper! Find hidden treasure in financial statement footnotes

June 8, 2022

Exploring financial statement footnotes can be a rewarding endeavor.

Contingent liabilities: To report or not to report?

June 3, 2022

Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting contingencies can be challenging. Here’s a refresher on the accounting rules for disclosing and estimating expected losses.