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So far Thomson Reuters has created 366 blog entries.

Auditing Accounting Estimates

When companies report financial results, they often rely on accounting estimates made by management. Examples include the allowance for doubtful accounts, warranty obligations, costs of pending litigation, goodwill impairment and the fair values of acquired intangible assets. How do [...]

By |2023-01-30T12:45:48-05:00February 3rd, 2023|Categories: Audit, Blog|Comments Off on Auditing Accounting Estimates

Forms W-2 and W-3 Are Due to Be Filed Soon

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must file W-2 and W-3 forms. Form W-2, Wage [...]

By |2023-01-25T18:57:46-05:00January 26th, 2023|Categories: Blog, Tax|Comments Off on Forms W-2 and W-3 Are Due to Be Filed Soon

Form 1099-NEC

Are you a business that pays creative freelancers, independent contractors, and other non-employees? If so, then understanding Form 1099-NEC is essential for staying compliant with tax regulations. This article breaks down everything you need to know about Form 1099-NEC [...]

By |2023-01-24T12:33:04-05:00January 24th, 2023|Categories: Blog, Tax|Comments Off on Form 1099-NEC

Year-End Spending Package Tackles Retirement Planning (SECURE Act 2.0) and Conservation Easements

On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 [...]

By |2023-01-17T10:09:23-05:00January 3rd, 2023|Categories: Blog, Tax|Comments Off on Year-End Spending Package Tackles Retirement Planning (SECURE Act 2.0) and Conservation Easements

Understanding and Avoiding a Cash Gap

Every business experiences occasional cash shortages. When this happens, owners often assume they should go out and sell more. But this strategy can sometimes compound money troubles over the short run. Why? The answer lies in a concept known [...]

By |2022-12-27T17:59:28-05:00December 27th, 2022|Categories: Blog|Comments Off on Understanding and Avoiding a Cash Gap

What to do if Your Controller or CFO Leaves

A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to assess the department’s performance and create a vision for how it should perform in the future. Here are four [...]

By |2022-11-29T15:10:19-05:00November 29th, 2022|Categories: Audit, Blog|Comments Off on What to do if Your Controller or CFO Leaves

What is Fair Value in Accounting?

In recent years, the accounting rules for certain balance sheet items have transitioned from historical cost to “fair value measurements.” Examples of assets that may currently be reported at fair value are asset retirement obligations, derivatives and intangible assets [...]

By |2022-11-23T05:00:40-05:00November 23rd, 2022|Categories: Audit, Blog|Comments Off on What is Fair Value in Accounting?

How Auditors Assess Cyber Risks

As businesses and not-for-profit entities increasingly rely on technology, cyber risks are becoming more sophisticated and aggressive. Auditors must factor these threats into their risk assessments. They can also help you draft cybersecurity disclosures and brainstorm ways to mitigate [...]

By |2022-11-19T05:01:05-05:00November 19th, 2022|Categories: Audit, Blog, Industries, Technology|Comments Off on How Auditors Assess Cyber Risks

How to Prepare for Year-End Physical Inventory Counts

As year-end approaches, it’s time for calendar-year entities to perform physical inventory counts. This activity is more than a compliance chore. Proactive companies see it as an opportunity to improve operational efficiency. Inventory basics Under U.S. Generally Accepted Accounting [...]

By |2022-11-15T05:00:26-05:00November 15th, 2022|Categories: Audit, Blog, Construction, Industries, Manufacturing & Distribution, Retail, Tax|0 Comments
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