The Best Way to Find the Right Construction Accountant

If you’re a construction contractor, the odds are you’ll require the services of an outside accountant from time to time. At first glance, it can be difficult to tell the difference between all of the Certified Public Accountants (CPAs) [...]

By |2022-07-19T18:43:17-04:00July 21st, 2022|Categories: Audit, Blog, Construction, Justin Scripps|Comments Off on The Best Way to Find the Right Construction Accountant

8 Tips to Maximize Your Valuation When Preparing for Exit by Acquisition

In the current economic landscape, it’s common for startups and businesses to seek a buyout or acquisition — in fact, it’s frequently the goal from the start.  Preparing for acquisition as early as possible can help alleviate the stress [...]

By |2022-07-20T17:44:24-04:00July 20th, 2022|Categories: Audit, Blog, Jeffrey R. Stark|0 Comments

Last Call for Lease Accounting Standard

The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with the changes. That means private companies and private not-for-profit [...]

By |2022-07-26T10:41:47-04:00July 11th, 2022|Categories: Audit, Blog, Lease Accounting|Comments Off on Last Call for Lease Accounting Standard

What is Auditor Independence?

Auditor independence is one of the most important requirements for audit firms. It’s why investors and lenders trust CPAs to provide unbiased opinions about the presentation of a company’s financial results. The Association of International Certified Professional Accountants (AICPA) [...]

By |2022-07-05T10:23:48-04:00July 7th, 2022|Categories: Audit, Blog|Comments Off on What is Auditor Independence?

Business Stress Test: Three Steps to Lower Your Risk

The pandemic and the ensuing economic turmoil have put tremendous stress on businesses. Many companies that appeared healthy on the surface, on their financial statements, quickly realized that they weren’t prepared for the unexpected. A so-called “business stress test” [...]

By |2022-06-29T14:06:46-04:00July 1st, 2022|Categories: Audit, Blog, Tax|Comments Off on Business Stress Test: Three Steps to Lower Your Risk

What Retailers Using Last In First Out (LIFO) Need to Know

Recent supply shortages may cause unexpected problems for some businesses that use the last in, first out (LIFO) method for their inventory. Here’s an overview of what’s happening so you won’t be blindsided by the effects of so-called “LIFO [...]

By |2022-06-29T13:48:12-04:00June 30th, 2022|Categories: Audit, Blog|Comments Off on What Retailers Using Last In First Out (LIFO) Need to Know

Leveraging Financial Statement Footnotes

Numbers tell only part of the story. Comprehensive footnote disclosures, which are found at the end of reviewed and audited financial statements, provide valuable insight into a company’s operations. Unfortunately, most people don’t take the time to read footnotes [...]

By |2022-06-14T15:50:08-04:00June 11th, 2022|Categories: Audit, Blog|Comments Off on Leveraging Financial Statement Footnotes

What’s the Difference Between Forecasts and Projections?

Financial statements look at historical performance. But there are times when you want forward-looking reports to help your business make strategic investment decisions, evaluate the viability of a turnaround plan or apply for a loan. Your accountant can help [...]

By |2022-05-24T17:55:08-04:00June 2nd, 2022|Categories: Audit, Blog|Comments Off on What’s the Difference Between Forecasts and Projections?

How Inflation May Impact Your 2022 Financial Statements

Business owners and investors are understandably concerned about skyrocketing inflation. Over the last year, consumer prices have increased 8.3%, according to the latest data from the U.S. Bureau of Labor Statistics. The Consumer Price Index (CPI) covers the prices [...]

By |2022-07-05T11:55:50-04:00May 31st, 2022|Categories: Audit, Blog|Comments Off on How Inflation May Impact Your 2022 Financial Statements
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