If you work in real estate, you already know that lease accounting has become far more complex in recent years. The introduction of ASC 842 and IFRS 16 changed how
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In-kind donations—non-cash contributions of goods or services—can play a crucial role in supporting a business’s or nonprofit’s mission. These contributions, ranging from donated materials to professional services, hold tangible financial
Revenue recognition is one of the most critical aspects of business accounting. It determines when and how companies record revenue in their financial statements, directly impacting profitability, compliance, and investor
Too many non-profit organizations – aiming to maintain transparency and trust among stakeholders – cower at the sight of audits. But with the right guidance, even those without extensive financial
Navigating the complexities of the audit process within the death care industry requires a specialized approach, one that an experienced accounting firm can provide with finesse. This sector’s unique financial
Facing the prospect of an audit can be an overwhelming experience for businesses, emphasizing the critical need for meticulous preparation. MKS&H recognizes the nuanced challenges of audit preparedness and has
When it comes to taxes, the Internal Revenue Service (IRS) plays a crucial role in collecting revenue for the government. One of the ways the IRS ensures compliance with tax
Recently, the AICPA Auditing Standards Board (ASB) issued an updated Statement on Auditing Standards that will lead to some audit changes in how employee benefit plans that are subject to
Medical practices that work with insurance providers always need to be conscious of the accuracy of claims that they are submitting. If you suddenly receive an audit notification from one
As we approach the end of a particularly stressful and tumultuous year, it’s time to take a moment to assess the financial state of your business and complete your accounting