Contributor: Denis C. Higgins

Accounting & Audit Alert- Forecasts vs. projections: What’s the big difference?

Financial statements look at historical performance. But there are times when you want forward-looking reports to help your business make strategic investment decisions, evaluate the viability of a turnaround plan or apply for a loan.

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Management letters: Follow up on your auditor’s recommendations

Maintaining the status quo in today’s volatile marketplace can be risky. To succeed, businesses need to “level up” by being proactive and adaptable. But some managers may be unsure where to start or they’re simply

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Do you know the signs of financial distress in a business?

Financial statements tell only part of the story. Investors, lenders and other stakeholders who know how to identify red flags of impending problems can protect their own financial interests. Additional due diligence may be needed

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Goodwill in a bad economy

In today’s volatile economy, many businesses and nonprofits have been required to write down the value of acquired goodwill on their balance sheets. Others are expected to follow suit — or report additional write-offs —

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- FAQs about fair value in accounting

In recent years, accounting rule makers have issued guidance that requires certain items on the balance sheet to be reported at “fair value.” Here are some answers to frequently asked questions about this standard of

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Deciding between cash and accrual accounting methods

Small businesses may start off using the cash-basis method of accounting. But many eventually convert to accrual-basis reporting to conform with U.S. Generally Accepted Accounting Principles (GAAP). Which method is right for you? Cash method

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Timing counts: Reporting subsequent events

Major events or transactions — such as a natural disaster, a cyberattack, a regulatory change or the loss of a large business contract — may happen after the reporting period ends but before financial statements

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Eyes on related parties

Business transactions with related parties — such as friends, relatives, parent companies, subsidiaries and affiliated entities — may sometimes happen at above- or below-market rates. This can be misleading to people who rely on your

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- New audit committee survey reveals trends on risks, ESG reporting and more

In late January, a survey entitled “Audit Committee Practices Report: Common Threads Across Audit Committees” was published by Deloitte and the Center for Audit Quality, an affiliate of the American Institute of Certified Public Accountants.

READ MORE

Posted In: Alerts & Advisories

2022 Largest Accounting Firms Announced

We are, once again, proud to announce that we have been named as a top firm in Massachusetts by the Boston Business Journal. Published on February 10, 2022, we are ranked as the 16th largest

READ MORE

Posted In: Awards