Posts Tagged ‘Audit’

Accounting & Audit Alert- Use visual aids to enhance financial reporting

Graphs, charts, tables and other data visualizations can be inserted in your financial statement disclosures to improve transparency and draw attention to key accomplishments. As your organization prepares its year-end or quarterly financials, consider presenting

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Coming soon: 5 accounting rules that take effect in 2023

It can be challenging to keep track of which accounting rules are changing, when the changes kick in and for which types of entities. Plus, implementing the necessary revisions to your organization’s procedures and systems

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- 5 benefits of outsourcing your accounting needs

CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll and sales tax filings. Should your organization outsource its accounting needs? Here

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- How to report software costs

What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is embedded software, according to recent comments by Financial Accounting Standards Board (FASB) Vice Chair James Kroeker.

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Digital assets’ potential benefits and risks

Digital assets such as cryptocurrencies and non-fungible tokens (NFTs) are growing and disrupting the way consumers and businesses pay, bank, and invest. A recent survey by Capitalize found that 60 percent of respondents would like

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Preparing for year-end inventory counts

How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count is essential at year end. For calendar-year entities, year end is fast approaching on December

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- New accounting rules for supplier finance programs

Does your company use supplier finance programs to buy goods or services? If so, and if you must adhere to U.S. Generally Accepted Accounting Principles (GAAP), there will be changes starting next year. At that

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- The future of the audit in 5 predictions

Technology is taking auditors into the 22nd century. While auditors are beginning to explore the possibilities afforded by technology, including predictive analytics and the cloud, expectations are changing quickly. Soon, investors and regulators alike will

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- SEC Chair Gensler warns about conflicts of interest

Securities and Exchange Commission (SEC) Chair Gary Gensler spoke during a recent webcast to commemorate the 20-year anniversary of the Sarbanes-Oxley Act. Gensler recommended that the SEC take a “fresh look” at its rules on

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- FASB proposes last-minute changes to lease accounting rules

Accounting Standards Codification Topic 842, Leases, requires organizations to report the full magnitude of their long-term lease obligations on their balance sheets — a historic first. For private companies and nonprofits, the changes take effect

READ MORE

Posted In: Alerts & Advisories