Revenue recognition and leases: FASB gives certain entities more time


Do you need more time to implement the new accounting rules on revenue recognition and leases? Good news: The FASB has approved one-year deferrals for certain entities.

Tags: audit

Independent assurance inspires confidence in sustainability reports


What is a “sustainability” report? What reporting standards apply? And why does your report need an external audit? Find the answers here.

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COVID-19: A reminder of why cross-training your accounting staff is key


Is your accounting department prepared for the unexpected? Find out why cross-training is invaluable in situations such as the COVID-19 crisis and how to implement it.

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Going, going, gone: Going concern assessments in the midst of COVID-19


Is your company struggling during the novel coronavirus (COVID-19) pandemic? You’re not alone. Here’s how to evaluate your company’s long-term viability and, if substantial doubts exist, how it will impact financial reporting.

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Auditing revenue


Why are private company auditors giving special attention to revenue recognition this audit season?

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Beware: Coronavirus may affect financial reporting


Anxiety about the coronavirus pandemic is spreading at least as fast as the virus itself. Investors and other financial statement users want to know how your business is managing this emerging risk factor.

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Lease or buy? Changes to accounting rules may change your mind


For decades, manufacturers, contractors and other capital-intensive entities have struggled with the decision to buy or lease fixed assets. Recent changes to the accounting rules add a new twist to the decision-making process.

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When to write off stale receivables


What percentage of your receivables will you actually collect? Inevitably, every business must write off some “bad debts.” Here’s how to estimate a reasonable allowance.

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4 steps to a stronger balance sheet


Market bulls and bears might disagree about when the next recession is coming. But everyone agrees that it’s smart to recession-proof your balance sheet … just in case.

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FAQs about audit confirmations


External confirmations can be a powerful audit tool. Find out the answers to common questions about this critical audit procedure.

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