Measuring fair value for financial reporting
Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are…
Third Quarter Industry Newsletters
Quarterly collection of current topics, news alerts and industry updates. Auto Dealerships Newsletter – September 26, 2019 Business Valuation…
Year-End Strategies to Reduce AGI
Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI…
FAQs about CAMs
In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires…
Why do companies restate financial results?
Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies…
Is an HSA right for you?
To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts…
AUP engagements: A middle ground between audits and consulting services
Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a…
Measuring “fair value” for financial reporting purposes
The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs…
The chances of IRS audit are down but you should still be prepared
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as…
Predicting future performance
CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future….