Is Your Company Following the Accounting Rules for Cutoffs?
Under the accrual method of accounting, the end of the accounting period serves as a strict cutoff for recognizing revenue and expenses. However, during economic downturns, managers may be tempted to artificially inflate earnings or Read More
Mar 16, 2023
Financial Reporting Check-Up: How Fiscally Fit Is Your Company?
Comprehensive financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP) include three reports: the balance sheet, income statement, and statement of cash flows. Together these reports can be powerful diagnostic tools to help evaluate Read More
Nov 30, 2022
Accuracy Counts in Inventory Management
Is the amount of inventory on your company's balance sheet accurate? Depending on the nature of a company's operations, its balance sheet may include inventory, consisting of raw materials, work-in-progress and/or finished goods. Inventory items Read More
Sep 30, 2022
Reporting Software Costs
On June 22, the Financial Accounting Standards Board (FASB) unanimously voted to add a project to its rulemaking agenda to modernize the accounting and disclosure rules for reporting software costs. Here's an overview of the Read More
Sep 14, 2022