How do auditors verify account balances and transactions?
Audit season is just around the corner for calendar-year entities. Understanding the types…
Beyond the numbers: 5 red flags that may indicate financial distress
Financial statements help managers, lenders and investors evaluate a company’s financial performance. But…
5 reasons to outsource your bookkeeping
Running a closely held business is challenging. Owners usually prioritize core business operations…
The evolution of financial reporting
In recent years, the accounting rules have undergone significant changes, including updated standards…
Reminder: Profits and cash flow aren’t the same
Profitable businesses often experience cash flow shortages, particularly if they’re experiencing rapid growth.…
Cutoffs: When to report revenue and expenses
Timing is critical in financial reporting. Under accrual-basis accounting, the end of the…
Strong controls over financial reporting are essential
Public companies are required to evaluate and report on internal controls over financial…
Strong internal controls and audits can help safeguard against data breaches
The average cost of a data breach has reached $4.88 million, up 10%…
Understanding the ABCs of credits and debits
Bookkeeping fundamentals are essential to accurate financial reporting. Using software solutions — such…
Why auditors monitor journal entries
With a median loss of $766,000, financial misstatement schemes are the costliest type…