Levels Of Assurance: Choosing The Right Option For Your Business Today

The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to reduce financial reporting costs — but a downgrade may [...]

By |2020-08-28T13:44:47-04:00August 28th, 2020|Categories: Audit, Blog, GAAP, Uncategorized|Tags: , , , , |Comments Off on Levels Of Assurance: Choosing The Right Option For Your Business Today

Asset Impairment is Expected to Hit 2020 Financial Statements

Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be considered a “triggering event” that warrants interim impairment testing. [...]

By |2020-06-19T13:42:33-04:00June 19th, 2020|Categories: Audit, Blog, COVID-19, GAAP|Tags: , , , , |Comments Off on Asset Impairment is Expected to Hit 2020 Financial Statements

Year-End Accounting Recap

The Financial Accounting Standards Board (FASB) hasn’t issued any major new accounting rules in 2019. But there have been some important developments to be aware of when preparing annual financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Deferral of [...]

By |2019-12-27T13:03:03-05:00December 27th, 2019|Categories: Audit, Blog, GAAP, Tax|Tags: , , , |Comments Off on Year-End Accounting Recap