impairment testing: When to consider triggering events On March 30, the Financial Accounting Standards Board (FASB) published an updated accounting standard. On events that trigger impairment testing under U.S. Generally…
Changes to accounting rules may change your mind on if you lease or buy The rules for reporting leasing transactions are changing. Though these changes have been delayed until 2021…
Measuring fair value for financial reporting Financial reporting for business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported…
Management letters: Have you implemented any changes? Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business and your internal controls. That’s…
Accounting Software Trouble? Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems. And depending…
Financial statements tell your business’s story, inside and out Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show…
Using knowledge management to develop your succession plan As the old saying goes, “Knowledge is power.” This certainly rings true for succession planning in business, as those who best understand…
A buy-sell agreement is critically important for businesses with more than one owner. It protects the owners and the business when expected and unexpected changes occur. When creating or updating…
Check these key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines…
Is your business competitive? One important component of assessing your business is knowing if your business is competitive. To reach any level of success, you must to be competitive with…