December 26, 2018 Accounting for Overhead Costs Don’t let your accounting department get overwhelmed by indirect “overhead” costs. Here’s how to get control over your overhead allocations. Read More
December 14, 2018 Cybersecurity Matters Cyberattacks can diminish a company’s revenue, deplete its assets, and, in extreme cases, impair value over the long run. With … Read More
December 6, 2018 A Look at the 4 Steps to Auditing Accounts Payable Auditing accounts payable is as easy as 1, 2, 3, 4. To facilitate fieldwork next audit season, let’s discuss the … Read More
November 30, 2018 Why Revenue Matters in an Audit: A Spotlight Though balance sheet accounts are the customary focus of auditors, revenue is a key income statement account. And it may … Read More
November 20, 2018 A Fresh Look at Percentage of Completion Accounting The accounting rules for reporting income from long-term contracts for book and tax purposes can be confusing. However, starting in … Read More
November 12, 2018 LIFO Lessons Learned When Reporting Inventory Costs Do the tax benefits of LIFO outweigh the financial reporting challenges? It’s not right for every business. Here’s how to … Read More
November 2, 2018 Risk Assessments When Preparing Financial Statements How risky is your business? Learn how CPAs factor risk assessments into their audit procedures. Read More
October 24, 2018 Assessing The Effectiveness of Internal Controls How strong are your internal controls? Most public companies must answer this question annually, despite a recently expanded SEC definition … Read More
October 19, 2018 Audit Opinions: How Your Financial Statements Measure Up Lenders and investors look to your company’s audit opinion letter for insight. They know which types of audit opinions tend … Read More
October 15, 2018 Cloud Computing Setup Costs: Expensed Or Capitalized? Moving to the cloud? The FASB recently issued guidance on how to account for the costs of setting up business … Read More
October 9, 2018 Auditing Royalty Agreements: How It Works Who’s monitoring your licenses? Whether due to error or fraud, underpayments may happen when your company licenses intellectual property to … Read More
September 25, 2018 Cash vs. Accrual Reporting: Which Is Right? Tax reform has opened the door for more companies to use the simpler cash method of accounting. While simpler is … Read More
