Close-up on sources of substantive audit evidence
What do auditors use to verify account balances? Anticipating document requests and inquiries can help make your next audit more efficient.
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Outlook
News, views, and ideas shaping the future.
Karen Keller
- Feb 3
- 2 min
Common accounting pitfalls for startups to avoid
Few entrepreneurs are experts in financial reporting. Don’t let accounting midhaps derail your startup.
Nathan Oswald
- Jan 28
- 3 min
Auditing accounting estimates
Here's what auditors are looking for & why they've upped the ante on audit procedures related to estimates & the use of specialists.
Chris Luckhaupt
- Jan 16
- 2 min
5 benefits of outsourcing your accounting needs
Should your organization outsource its accounting needs? Here are some potential advantages to consider.
Karen Keller
- Dec 30, 2022
- 2 min
FAQs about QuickBooks
What software does your organization use for its accounting needs? Here are answers to FAQs about one of the most popular options: Quickbook
Lydia Ritze
- Dec 9, 2022
- 3 min
How to report software costs
Accounting for software costs is a gray area in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.
Chris Luckhaupt
- Dec 2, 2022
- 3 min
Is it time to update your accounting practices?
Have your accounting procedures and systems kept up with the times? Here are five tips to consider.
Linden Bumpass
- Nov 28, 2022
- 2 min
What to do if your CFO or controller leaves
Finding replacements for high-skill positions can be challenging. Here are four questions to ask if your accounting team leader leaves.
Kristen Mull
- Nov 14, 2022
- 3 min
Preparing for year-end inventory counts
A physical inventory count gives a snapshot of how much inventory your company has on hand at year end. Are you ready to start counting?
Chris Luckhaupt
- Oct 24, 2022
- 2 min
Manageable growth should be a strategic planning focus
Is significant growth a part of your company's strategic plan? Growing a business too quickly can lead to serious financial problems.
Charlie Halcomb
- Oct 10, 2022
- 3 min
SEC Chair Gensler warns about conflicts of interest
Here’s what you should know to protect the perceived reliability of your audited financial statements.
Nathan Oswald
- Sep 30, 2022
- 3 min
FASB proposes last-minute changes to lease accounting rules
Related-party leases continue to be a sticking point, but help may be coming soon.
Lydia Ritze
- Sep 16, 2022
- 2 min
Using agreed-upon procedures to target specific items of concern
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
Chris Luckhaupt
- Sep 7, 2022
- 2 min
Want to see into the future? Delve deeper into forecasting
Financial forecasting in action: If your business wants to see what’s ahead, historical data a expert opinion can help paint the picture.
Linden Bumpass
- Sep 2, 2022
- 3 min
Is your current bad debt allowance reasonable?
In light of a recent survey of audit partners, many companies are re-evaluating their allowances for uncollectible receivables.
Charlie Halcomb
- Aug 29, 2022
- 3 min
New law puts “book income” in the crosshairs
Accounting professionals are concerned that Inflation Reduction Act could compromise the perceived objectivity of US accounting rulemakers.
Joe Edwards
- Aug 24, 2022
- 2 min
Evaluating an ESOP from a succession planning perspective
Business owners: If combining an employee retirement plan with a succession planning vehicle intrigues you, check out an ESOP.
Stu Collopy
- Aug 8, 2022
- 2 min
How external confirmations are used during an audit
External confirmations are one of the simplest, but most effective, audit tools. Do you understand how they work?
Nathan Oswald
- Aug 8, 2022
- 3 min
Evaluating “going concern” concerns
Is your business struggling? Here's important information to review if you have "substantial doubt" about its ability to continue operations
Charlie Halcomb
- Jul 11, 2022
- 2 min
Last call for lease accounting
Private companies: Have you implemented the new lease accounting rules? If not, you can’t afford to procrastinate any longer.
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