Posts Tagged ‘Financial Statements’
By Edelstein on July 11, 2023
Timely financial information is critical to a successful business or nonprofit organization. In today’s dynamic marketplace, you may need to act fast to ward off potential threats and risks — and jump on new opportunities.
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Posted In: Alerts & Advisories
By Edelstein on May 22, 2023
Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs and falling consumer confidence. If your company is planning a major strategic shift this year, management may need
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Posted In: Alerts & Advisories
By Edelstein on April 10, 2023
What do you do with your financial statements after your CPA delivers them? If you’re like most business owners and managers, you breathe a sigh of relief that they’re finished, file them away and go
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Posted In: Alerts & Advisories
By Edelstein on March 13, 2023
Organizations that understand how auditors verify account balances and transactions can minimize disruptions during audit fieldwork and maximize the effectiveness of financial statement audits. Here’s a summary of the types of “substantive evidence” auditors gather
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Posted In: Alerts & Advisories
By Edelstein on February 13, 2023
It can be challenging to keep track of which accounting rules are changing, when the changes kick in and for which types of entities. Plus, implementing the necessary revisions to your organization’s procedures and systems
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Posted In: Alerts & Advisories
By Edelstein on November 14, 2022
How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count is essential at year end. For calendar-year entities, year end is fast approaching on December
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Posted In: Alerts & Advisories
By Edelstein on September 20, 2022
Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a specific aspect of an organization’s financial or nonfinancial information. What’s covered? Agreed-upon procedures
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Posted In: Alerts & Advisories
By Edelstein on August 1, 2022
Under U.S. Generally Accepted Accounting Principles (GAAP), financial statements are normally prepared based on the assumption that the company will continue normal business operations into the future. When liquidation is imminent, the liquidation basis of
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Posted In: Alerts & Advisories
By Edelstein on June 27, 2022
The pandemic and the ensuing economic turmoil have put tremendous stress on businesses. Many companies that appeared healthy on the surface, on their financial statements, quickly realized that they weren’t prepared for the unexpected. A
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Posted In: Alerts & Advisories
By Edelstein on June 14, 2022
How often does your company generate a full set of financial statements? It’s common for smaller businesses to issue only year-end financials, but interim reporting can be helpful, particularly in times of uncertainty. Given today’s
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Posted In: Alerts & Advisories