Pretax (accounting) profit, as reported on your company’s income statement, is a key metric that lenders, investors, and other stakeholders use to assess financial performance. However, business owners should also...... Read More
Financial statements provide valuable insights into a company’s economic performance, aiding managers, lenders, and investors in their evaluations. However, they offer only a partial view and may fail to highlight...... Read More
It’s critical for business owners and managers to understand how to present contingent liabilities accurately in the financial statements. Under U.S. Generally Accepted Accounting Principles (GAAP), some contingent losses may...... Read More
Running a closely held business is challenging. Owners usually prioritize core business operations — such as managing employees, serving customers and bringing in new sales — over tedious bookkeeping tasks....... Read More
As calendar-year entities wrap up financial reporting for the year, their external auditors work behind the scenes to prepare for audit season. Here’s what you can do to help facilitate...... Read More
In recent years, the accounting rules have undergone significant changes, including updated standards for reporting revenue, leases and credit losses. While business owners and managers often express frustration over the...... Read More
When reviewing their income statements, business owners tend to focus on profits (or losses). But focusing solely on the bottom line can lead to mismanagement and missed opportunities. Instead, you...... Read More
Profitable businesses often experience cash flow shortages, particularly if they’re experiencing rapid growth. Business owners may wonder why they owe taxes when they regularly struggle to find cash to cover...... Read More
Timing is critical in financial reporting. Under accrual-basis accounting, the end of the accounting period serves as a “cutoff” for when companies recognize revenue and expenses. However, some companies may...... Read More
Public companies are required to evaluate and report on internal controls over financial reporting using a recognized control framework under rules set forth by the Securities and Exchange Commission (SEC)....... Read More
© Axley & Rode, LLP
Responsive website by
GroupM7 Design™
Privacy Policy
Terms of Service
1307 S. 1st St.
Lufkin, TX 75901
Phone: (936) 634-6621
Fax: (936) 699-5799
420 North St.
Nacogdoches, TX 75961
Phone: (936) 569-9518
Fax: (936) 569-6073
203 N. Houston Ave.
Livingston, TX 77351
Phone: (936) 327-3166
Fax: (936) 327-3522
247 East Houston
Jasper, TX 75951
Phone: (409) 384-4666
Fax: (409) 384-3988
