Financial statements provide insights into a company’s historical performance. But the parties to a merger or acquisition are also interested in assessing the acquisition target’s potential to generate cash flow in the future....... Read More
A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases aren’t as great as they...... Read More
Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here are some answers...... Read More
Many calendar-year entities are currently preparing for the start of audit fieldwork. One proactive way to facilitate your financial statement audit is to encourage teamwork between your internal audit department...... Read More
The Financial Accounting Standards Board (FASB) made favorable changes to the accounting rules for crypto assets in December 2023. The updated guidance benefits reporting entities and external stakeholders alike. It’s...... Read More
How often do you reconcile your company’s internal financial records against your bank statements? Bank reconciliations are an essential internal control procedure that busy owners and managers sometimes overlook or...... Read More
Owners’ equity is the difference between the assets and liabilities reported on your company’s balance sheet. It’s generally composed of two pieces: capital contributions and retained earnings. The former represents...... Read More
Goodwill impairment is often a negative signal, indicating that a business combination may not have met management’s expectations due to internal or external factors. In recent years, uncertain markets, persistent...... Read More
Audit season is just around the corner for calendar-year entities. Understanding the types of source documents your audit team might request can minimize disruptions during audit fieldwork and maximize your...... Read More
A well-structured chart of accounts is essential for accurate financial reporting. A poorly organized chart, or one that groups transactions into vague, undefined categories, can hinder management’s ability to assess...... Read More
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