Flash reports: Real-time financial reporting

October 1, 2021

Does your company prepare weekly or daily flash reports? These can be a powerful management tool to help anticipate potential risks and recognize emerging opportunities.

Is it time to upgrade your accounting system?

September 24, 2021

If you’re thinking about upgrading your company’s accounting system, cost is an important factor. But it’s not the only one. Here are four other critical issues to consider before you pick what’s right for your business.

Related-party transactions draw attention from auditors

September 17, 2021

Does your business interact with your friends, relatives and subsidiaries? If so, you may need to disclose the details of those transactions and relationships in your financial statements. Here’s why and how auditors pay special attention to related parties.

Restating financial results

September 13, 2021

Stakeholders are understandably alarmed when a company restates its financial results. However, the reasons for restatements can range from the mundane to the serious.

Want to find out what IRS auditors know about your business industry?

August 31, 2021

If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.

Private companies: Are you on track to meet the 2022 deadline for the updated lease standard?

August 20, 2021

Coming soon: Private companies and nonprofits that rent equipment, vehicles and real estate will need to update their accounting systems for major changes to the rules for long-term leases under U.S. GAAP.