Posts Tagged ‘Accounting’

Accounting & Audit Alert- Navigating the percentage-of-completion method

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how

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Posted In: Alerts & Advisories

Accounting & Audit Alert- New report identifies high-risk areas in financial reporting

In July 2023, the Public Company Accounting Oversight Board (PCAOB) published a report that highlights common areas of audit deficiencies for public companies. Private companies face similar challenges when reporting their financial results. Internal accounting

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Overhead allocations: Rising costs require a fresh, disciplined mindset

From utilities and interest expense to executive salaries and insurance, many overhead costs have skyrocketed over the last few years. Some companies have responded by passing along the increases to customers through higher prices of

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Selecting a qualified auditor for your employee benefit plan

Does your organization offer health care and retirement benefits for its employees? Benefit plans with 100 or more participants are generally required to have their annual reports audited under the Employee Retirement Income Security Act

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Accounting & Audit Alert- Receivables: Quality counts

For many companies, a significant line item on the balance sheet is accounts receivable. But can you take the amount reported at face value, or could there be more to the story? It’s important to

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Supplement your financial statements with timely flash reports

Timely financial information is critical to a successful business or nonprofit organization. In today’s dynamic marketplace, you may need to act fast to ward off potential threats and risks — and jump on new opportunities.

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Accounting & Audit Alert- Is QuickBooks right for your nonprofit?

Not-for-profit organizations exist to achieve nonfinancial or philanthropic goals, not to make money or build value for investors. But they still need to monitor their financial health — that is, how much funding is coming

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Posted In: Alerts & Advisories

Accounting & Audit Alert- FASB votes to exempt private companies from disaggregation of income statement project

Private companies can breathe a sigh of relief: The Financial Accounting Standards Board (FASB) and the Private Company Council have agreed to give them a pass on a coming proposal that, if approved, would require

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Overview of discontinued operations reporting

Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs and falling consumer confidence. If your company is planning a major strategic shift this year, management may need

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Achieving the right balance of working capital

Working capital — the funds your company has tied up in accounts receivable, accounts payable and inventory — is a critical performance metric. During times of rising inflation and interest rates, managers search for ways

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Posted In: Alerts & Advisories