FASB proposes last-minute changes to lease accounting rules
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon.
Read MoreHow auditors use Benford’s Law to assess transactions
Statistical tools, like Benford’s Law, can help your auditors work smarter. But it’s important to recognize the limits of these tools.
Read MoreUsing agreed-upon procedures to target specific items of concern
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
Read MoreHow to report software costs
Accounting for software costs is one of the gray areas in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.
Read MoreIs it time to update your accounting practices?
Have your accounting procedures and systems kept up with the times? Here are five tips to consider.
Read MoreReap the benefits of QuickBooks software solutions
Many small and midsized businesses use QuickBooks for bookkeeping purposes. Are you taking advantage of all that your accounting software has to offer?
Read MoreWhat to do if your CFO or controller leaves
The Great Resignation has caused significant turnover at many organizations. And finding replacements for high-skill positions can be challenging in today’s labor market. Here are four questions to ask if your accounting team leader unexpectedly leaves.
Read MoreAccounting policies and procedures are essential for nonprofits, too
Not-for-profit entities may not focus on earnings per share, but that doesn’t mean they can afford to neglect their accounting function. Here are some tips to help nonprofits run a well-oiled accounting department
Read MorePreparing for year-end inventory counts
A physical inventory count gives a snapshot of how much inventory your company has on hand at year end. Are you ready to start counting?
Read MoreSEC Chair Gensler warns about conflicts of interest
The SEC is committed to preventing conflicts of interest. Regardless of whether your organization is public or private, here’s what you should know to protect the perceived reliability of your audited financial statements.
Read MoreNew accounting rules for supplier finance programs
Newly issued rules on how to report supplier finance programs will provide critical information on the financial health of companies. Here’s what you should know if your company participates in these kinds of arrangements.
Read MoreBoo! Consider a surprise audit to keep your accounting department on its toes
Routine financial statement audits are great for corporate governance. But could your organization also benefit from periodic “surprise” audits?
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