In accrual-basis accounting, timing is everything. One core principle of U.S. Generally Accepted Accounting Principles (GAAP) is the matching concept, which requires organizations to recognize expenses in the same period...... Read More
Although footnote disclosures appear at the end of reviewed or audited financial statements, they’re far more than a regulatory formality. They provide critical insight into a company’s accounting policies, unusual...... Read More
If your company’s financial statements are audited, chances are your auditor will send out external confirmations. These information requests may be sent directly to your customers, vendors, banks, attorneys and...... Read More
Turnover in finance and accounting (F&A) leadership is on the rise. In 2024, CFO turnover among Standard & Poor’s 500 companies hit 17.8%, tying a record high in 2021, according...... Read More
In today’s volatile economic climate, organizations face mounting pressures that can increase the risk of fraudulent activities. Auditors play a pivotal role in identifying and mitigating these risks through comprehensive...... Read More
On May 12, 2025, the Financial Accounting Standards Board (FASB) finalized new guidance that clarifies how to identify the acquirer in mergers and acquisitions (M&As) involving variable interest entities (VIEs). The...... Read More
The month-end close is a pain point for many small to midsize businesses. While internal accounting teams often aim to wrap up the close within three days, a recent survey...... Read More
For many businesses, accounts receivable (AR) are more than just a line item on the balance sheet. This account provides a key indicator of potential cash flow, customer relationships and...... Read More
Performing a mid-year QuickBooks® cleanup is a smart habit that small business owners and bookkeepers can adopt to stay ahead of their financial responsibilities. Waiting until year end to review...... Read More
In recent years, interest rates have increased and credit has tightened. Under these conditions, which are expected to persist in the coming months, securing a commercial loan can be challenging...... Read More
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