New 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 More Boo! 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?
Read More Ratio analysis: Extracting actionable data from your financials
Here are four categories of financial ratios that can help you make better, more-informed decisions about your company’s financial future.
Read More Warning for retailers and other businesses using the LIFO method
Normally, the last-in, first-out (LIFO) accounting method is an effective way to defer taxes. But beware: Retailers and other businesses that use this method could be hit with an unexpected tax bill if their inventory shrinks significantly due to supply chain issues
Read More Remote auditing: A brave new world
Pandemic-related lockdowns have forced auditors to conduct many procedures off-site. That change may not necessarily be temporary. After realizing the potential benefits, remote audit procedures may be part of the “new normal” going forward.
Read More How to account for collaborative agreements
Payments related to joint ventures and other so-called “collaborative arrangements” can be tricky to report under U.S. GAAP. Our accounting pros can help provide clarity and direction.
Read More Evaluating “going concern” concerns
Is your business struggling? If you have “substantial doubt” about its ability to continue normal operations, you may encounter financial reporting issues. Here’s important information to review.
Read More Last call for lease accounting
Private companies: Have you implemented the new lease accounting rules? If not, you can’t afford to procrastinate any longer. Here’s what you’ll need to do before year end and how it may impact your financials.
Read More Are your risk-management practices keeping up with the times?
A new report highlights the mounting risks that businesses and not-for-profits face today. Here’s how to fortify your defenses.
Read More Cyber risks: A critical part of your auditor’s risk assessment
Data breaches are becoming more frequent, aggressive and sophisticated. Here are some shocking statistics from the “Cost of a Data Breach Report 2022,” along with ways your auditor can help evaluate and mitigate your organization’s risk.
Read More New law puts “book income” in the crosshairs
Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are concerned that the new law could compromise the perceived objectivity of U.S. accounting rulemakers.
Read More Is your current bad debt allowance reasonable?
A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In light of this uncertainty, many companies are re-evaluating their allowances for uncollectible receivables.
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