Accounting Standards Codification Topic 842, Leases, requires organizations to report the full magnitude of their long-term lease obligations on their…
Under U.S. Generally Accepted Accounting Principles (GAAP), financial statements are normally prepared based on the assumption that the company will…
In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported…
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count…
Auditors typically deliver financial statements to calendar-year businesses in the spring. A useful tool that accompanies the annual report is…
Many types of businesses — such as homebuilders and manufacturers — turn raw materials into finished products for customers. Production…
Timing counts in financial reporting. Under the accrual method of accounting, the end of the accounting period serves as a…
Strategic investments — such as expanding a plant, purchasing a major piece of equipment or introducing a new product line…
The use of audit analytics can help during the planning and review stages of the audit. But analytics can have…
Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the…