According to the "Occupational Fraud 2024: A Report to the Nations" by the Association of Certified Fraud Examiners (ACFE), four antifraud measures have been linked to a reduction of at...... Read More
Accurate bookkeeping is vital for the smooth operation of a successful small business. The challenges stemming from poor bookkeeping practices can lead to substantial, long-lasting repercussions. Here are four common...... Read More
Audit committees act as gatekeepers of the accounting and financial reporting processes, encompassing the efficacy of the company's control environment. Yet, with the regulatory scene growing more intricate and organizations...... Read More
Many businesses prioritize increasing product and service sales to enhance profitability. However, solely concentrating on sales volume doesn't always lead to higher profits. In reality, funneling more sales through a...... Read More
Precise and prompt financial information is crucial for executives, board members, investors, and other stakeholders to make informed decisions. However, not all recipients of your financial statements will understand the...... Read More
Interim financial reporting is crucial for managing a successful business. Yet, when reviewing midyear financial reports, it's important to acknowledge their potential shortcomings. These reports might not be as reliable...... Read More
Inventory is a key balance sheet item for many companies. Depending on the nature of your operations, inventory may include raw materials, work-in-progress (WIP) inventory, and finished goods. While you...... Read More
Reporting on environmental, social, and governance (ESG) matters is an increasingly crucial area of corporate compliance. While ESG reporting and disclosure apply primarily to public companies, there are efforts aimed at requiring private companies...... Read More
External auditors spend a lot of time during fieldwork evaluating how businesses report work-in-progress (WIP) inventory. Here’s why this warrants special attention and how auditors evaluate whether WIP estimates seem...... Read More
At Financial Executives International’s Corporate Financial Reporting Insights Conference last November, staff from the Securities and Exchange Commission (SEC) expressed concerns related to the use of financial metrics that don’t...... Read More
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