GAAP vs. tax-basis: Which is right for your business?


U.S. Generally Accepted Accounting Principles have become more complex in recent years. And more GAAP changes are in the works. Here’s a simpler alternative that could provide relief for some private companies.

Tags: audit

How to keep track of small tools and equipment


How often are you replacing tools and other small equipment items? These assets may be lost by forgetful workers, damaged by negligent ones and stolen by thieves. Here’s an idea to help protect these assets and your company’s bottom line.

Tags: audit

Valuing profits interests in LLCs


Profits interest awards are a type of equity-based compensation that’s unique to limited liability companies. But estimating the fair value of these arrangements can be tricky — unless the rules are simplified.

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Reasons why cash is king


Balance sheets and income statements get all the attention. But the less popular statement of cash flows can be a powerful management tool, if you know how to interpret it…

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Nonprofits: New alternatives for reporting goodwill and other intangibles


When nonprofit organizations merge, reporting goodwill and other intangible assets can be complex and costly. Fortunately, new accounting guidance offers some welcome relief.

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Internal audit 2.0: Paperless and continuous auditing trends


Does your current internal audit approach take advantage of electronic recordkeeping? Learn the benefits of upgrading your audit program to match today’s technology.

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Measuring fair value for financial reporting


Does your business report any assets at fair value? Are these estimates reasonable? Here’s how a valuation specialist can help management meet its financial reporting responsibilities and ensure adequate controls over these measurements.

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Management letters: Have you implemented any changes?


It’s common for businesses to stick with the same policies, procedures and practices from year to year. Management letters offer fresh insights from the audit trenches. Here’s why you should heed your auditor’s advice.

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Budgeting is key to a successful start-up


Navigating a start-up business without a financial roadmap can be perilous. Here’s how to jumpstart the budgeting process.

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Auditing grant compliance


Got grants? Juggling multiple levels of grant compliance can be time consuming and frustrating. Here’s how our audit team can help streamline the process.

Tags: audit