Demystifying the Audit Process
Audit and You Independent auditors provide many benefits to business owners and management: They can help uncover errors in your financials, identify material weaknesses in your internal controls, and increase…
Risk Management and Your Business
Fortifying your Business with Enterprise Risk Management Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves and wild animals by fortifying their entire communities with…
GAAP vs. Tax-Basis Reporting
GAAP vs. tax-basis reporting: Choosing the right model for your business Virtually every business must file a tax return. Some private companies choose to issue tax-basis financial statements, rather than…
Investors: Beware of the Wash Sale Rule
Don’t let the wash sale rule wash out the potential tax benefits of a capital loss. A tried-and-true tax-saving strategy for investors is to sell assets at a loss to…
Putting Hedging Strategies to Work for Your Business
Hedging Strategies The Financial Accounting Standards Board (FASB) recently issued some targeted improvements to its guidance that could encourage more companies to engage in hedging arrangements to minimize volatility in…
Risk Management Framework Maximizes Upsides
How effectively do you manage risk? Businesses can’t eliminate risk, but they can manage it to maximize the entity’s economic return. A new framework aims to help business owners and…
FASB: Close-up on Restricted Cash
The FASB wants to fix inconsistent reporting The Financial Accounting Standards Board (FASB) has amended U.S. Generally Accepted Accounting Principles (GAAP) to clarify the guidance on reporting restricted cash balances…
Private Companies and Financial Reporting
Private companies: Consider these financial reporting shortcuts For years, private companies and their stakeholders have complained that the Financial Accounting Standards Board (FASB) catered too much to large, public companies…
Timeliness Counts in Financial Reporting
Don’t delay in closing books Do you procrastinate when it comes to closing your books and delivering year-end financial statements? Lenders and investors may think the worst if an organization’s…
Digital Marketing for Your Business
Four digital marketing tips for every business You’d be hard pressed to find a company not looking to generate more leads, boost sales and improve its profit margins. The first…