The Future of Accounting: How to Embrace Cutting-Edge Technology

Thursday, February 29, 2024
Technology is transforming the accounting profession. When businesses moved from paper ledgers to spreadsheets, it improved the timeliness, accuracy and integrity of accounting-related data. Likewise, cloud computing and the ability...... Read More

Tips for QuickBooks Users: 5 Mistakes to Avoid During Bank Reconciliation

Thursday, February 22, 2024
Reconciling bank accounts is critical to ensuring the accuracy of your company’s accounting records. The primary purpose of a bank reconciliation is to confirm that the transactions recorded in your...... Read More

What is Your External Auditor’s Responsibility for Cybersecurity?

Thursday, February 15, 2024
Data breaches can be costly. The average total cost of a data breach has risen to roughly $4.45 million, according to a 2023 survey of information technology (IT) security professionals...... Read More

FASB Issues New Segment Expense Disclosure Rules

Thursday, February 08, 2024
On November 27, 2023, the Financial Accounting Standards Board (FASB) issued updated accounting rules on segment reporting. The guidance concludes several years of discussions aimed at providing investors with better...... Read More

Why it is Important to Track Tools and Small Equipment?

Thursday, February 01, 2024
Is your business constantly replacing its tools and small equipment? Certain items that can fit in a backpack, pocket or even the armrest of a vehicle — such as power...... Read More

Overview of the offsetting rules

Thursday, January 25, 2024
As companies explore hedging strategies in today’s uncertain economy, management might need to become familiar with the accounting rules for offsetting. Here are the basics, including what needs to be...... Read More

Accounting for M&As

Thursday, January 18, 2024
Business merger and acquisition (M&A) transactions have significant financial reporting implications. Notably, the company’s balance sheet will look markedly different than it did before the business combination. Here’s some guidance...... Read More

Shareholder advances: Debt or equity?

Thursday, January 11, 2024
From time to time, owners of closely held businesses might need to advance their companies money to bridge a temporary downturn or provide funds for an expansion or another major...... Read More

Teaching your accounting staff to master the art of negotiation

Thursday, January 04, 2024
Effective negotiation skills are critical when hiring a CEO or salesperson who deals with major contracts on a regular basis. Yet these skills aren’t necessarily at the forefront when looking...... Read More

Ways to speed up your month-end close

Thursday, December 28, 2023
Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel to round up data from across the organization. This process...... Read More