Archive for Category: Accounting

Hidden liabilities: What’s excluded from the balance sheet?

Financial statements help investors and lenders monitor a company’s performance. However, financial statements may not provide a full picture of financial health. What’s undisclosed could be just as significant as the disclosures. Here’s how a CPA can help stakeholders identify unrecorded items either through external auditing procedures or by...

Read More

Auditing Related-Party Transactions

Business owners generally prefer to work with entities they know and trust. But related-party transactions can provide opportunities for individuals to act in a manner that’s inconsistent with the interests of shareholders. That’s why auditors take pains to identify and properly address related-party transactions.

Read More

Tips for Choosing The Right CPA for Your Business

Tips for choosing the right CPA for your business The right certified public accountant can make or break your business. Errors in accounting can lead to the horrors of bankruptcy and might even send you to court for unintentional tax evasion.  Conversely, the right accountant can deliver smooth and...

Read More

What to Look for When You Need Professional Financial Services

What to Look for When You Need Professional Financial Services Your business is at stake. That is just the sole but significant reason why you must be very careful in choosing a firm that has a strong impact in your financial future. There are a number of professional financial...

Read More

How much do you know about the FASB Update 2015-11?

In July of 2015, the Financial Accounting Standards Board (FASB) issued Update 2015-11 Inventory (Topic 330), which will amend guidance within Topic 330.  If you are currently valuing your inventory using a method other than Last-in, First-out, (LIFO) or the retail inventory method, you need to make sure you...

Read More