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Reporting Discontinued Operations

Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset…

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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…

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Let’s find a better way to manage your receivables

Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including…

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The pros and cons of interim reporting

The Securities and Exchange Commission (SEC) requires certain public companies to publish quarterly financial statements to give investors insight into…

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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…

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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…

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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…

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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…

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Predicting future performance

CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future….

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Close-up on financial statements

There are three types of financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Each one reveals different, but equally…