Contributor: Denis C. Higgins

Accounting & Audit Alert- How to minimize turnover in your accounting department

The demand for qualified accounting and finance personnel has grown, as business owners struggle to manage unpredictable cash flows, increased costs, and new government policies and financial aid packages. Plus, the potential job market for

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Preparing for the possibility of a remote audit

The coming audit season might be much different than seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, audit procedures are being adjusted accordingly. Here’s what might change as auditors

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Posted In: Alerts & Advisories

Accounting & Audit Alert- How effectively does your business manage risk?

From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise

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Accounting & Audit Alert- Best practices when forecasting cash flow

Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers

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Accounting & Audit Alert- Avoiding conflicts of interest with auditors

A conflict of interest could impair your auditor’s objectivity and integrity and potentially compromise you company’s financial statements. That’s why it’s important to identify and manage potential conflicts of interest. What is a conflict of

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Accounting & Audit Alert- Gifts in kind: New reporting requirements for nonprofits

On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are

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Accounting & Audit Alert- Auditing revenue

Traditionally, audit procedures for private companies tend to focus on the balance sheet. That is, auditors evaluate whether the book values of the company’s assets are overstated and its liabilities are understated. However, the income

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Accounting & Audit Alert – How to report COVID-19-related debt restructuring

Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex

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Accounting & Audit Alert- Reporting discontinued operations today

Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need

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Accounting & Audit Alert- Levels of assurance: Choosing the right option for your business today

The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to reduce financial reporting costs —

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Posted In: Alerts & Advisories