Footnote Disclosures: The Story Behind the Numbers

The footnotes to your company’s financial statements give investors and lenders insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed business and investment decisions. Here are four important issues that you [...]

By |2021-01-29T12:43:11-05:00January 29th, 2021|Categories: Audit, Blog|Tags: , , , , , , , |Comments Off on Footnote Disclosures: The Story Behind the Numbers

Accounting for Property, Plant and Equipment Assets

Businesses and not-for-profit entities capitalize machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to properly report these long-lived assets under U.S. Generally Accepted [...]

By |2021-01-22T13:08:08-05:00January 22nd, 2021|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on Accounting for Property, Plant and Equipment Assets

Red Flags of Deadbeat Debtors

Unfortunately, many businesses have experienced problems with collections during the COVID-19 pandemic. Accounts receivable are a major item on most companies’ balance sheets. Slow-paying — or even nonpaying — customers or clients adversely affect cash flow. Proactive measures can [...]

By |2020-12-30T12:44:18-05:00December 30th, 2020|Categories: Audit, Blog|Tags: , , , |Comments Off on Red Flags of Deadbeat Debtors

FASB to Delay Long-Term Insurance Standard … Again

On September 30, the Financial Accounting Standards Board (FASB) finalized a rule to delay the effective date of the updated long-term insurance standard for a second time. The deferral will give insurers more time to properly implement the changes [...]

By |2020-11-10T13:48:31-05:00October 9th, 2020|Categories: Audit, Blog|Tags: , , , , , |Comments Off on FASB to Delay Long-Term Insurance Standard … Again

Reporting Embedded Leases

In 2016, the Financial Accounting Standards Board (FASB) published guidance that requires major changes to how leases are reported on financial statements. One area of the guidance that’s especially complicated relates to “embedded” leases. Updated guidance Organizations are required [...]

By |2020-07-10T14:10:11-04:00July 10th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |Comments Off on Reporting Embedded Leases

4 Steps to a Stronger Balance Sheet

Roughly half of CFOs believe an economic recession will hit by the end of 2020, and about three-quarters expect a recession by mid-2021, according to the 2019 year-end Duke University/CFO Global Business Outlook survey. In light of these bearish [...]

By |2020-02-21T13:16:51-05:00February 21st, 2020|Categories: Blog|Tags: , , , |Comments Off on 4 Steps to a Stronger Balance Sheet

Feeling lucky? How to find a pot of gold in your financials

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 |2018-04-11T15:09:19-04:00March 10th, 2018|Categories: Blog|Tags: , |Comments Off on Feeling lucky? How to find a pot of gold in your financials
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