FASB finalizes new crypto standard in record time
Good news: Companies that invest in or exchange cryptocurrency assets will soon be allowed to report them at fair value.
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Outlook
News, views, and ideas shaping the future.
Lydia Ritze
- Sep 11
- 2 min
Navigating the percentage-of-completion method
The accounting rules for reporting income from long-term contracts for book and tax purposes can be confusing. Here’s a brief overview.
Chris Luckhaupt
- Sep 11
- 2 min
Could your business benefit from interim financial reporting?
You may want to engage in “interim” financial reporting to produce insightful information more frequently.
Linden Bumpass
- Sep 1
- 3 min
Financial statements at a glance
To get a holistic assessment of your organization’s performance, it’s important to look beyond profits.
Stu Collopy
- Aug 7
- 2 min
Start cross-training your accounting team today
Cross-training is one way your organization can attract & retain skilled accounting personnel even with the talent crisis getting worse.
Kristen Mull
- Jul 17
- 2 min
Strong billing processes are critical to healthy cash flow
Business owners: Cash flow is the lifeblood of a successful company, and your billing processes have a huge impact on it.
Chris Luckhaupt
- Jul 17
- 2 min
Supplement your financial statements with timely flash reports
Here’s how daily or weekly flash reports can help your organization become more responsive to changing market conditions.
Nathan Oswald
- Jul 17
- 2 min
Turning receivables into cash
Collecting cash from customers takes time & patience. To bridge the cash gap, consider these strategies to monetize outstanding receivables.
Charlie Halcomb
- Jun 19
- 2 min
Why can’t my profitable business pay its bills?
When you own a small business and cash is short, it pays to understand the differences between profits and cash flow.
Chris Luckhaupt
- Jun 2
- 2 min
How to leverage AI in your accounting department
While AI software can’t yet replace humans for complex accounting tasks, here’s how you could put it to the test at your organization.
Lydia Ritze
- May 30
- 2 min
FASB votes to exempt private companies from disaggregation of income statement project
As costs rise, investors & lenders are eyeing profits closely.Here’s the latest info on FASB’s project to up the ante on expense disclosures
Nathan Oswald
- May 22
- 2 min
Overview of discontinued operations reporting
In today’s uncertain markets, your business may decide to discontinue unprofitable product lines or business units.
Karen Keller
- May 8
- 2 min
How to use QuickBooks as a fraud detection tool
Many organizations use QuickBooks for everyday accounting tasks. But did you know this software can also function as a fraud detection tool?
Linden Bumpass
- May 1
- 2 min
Reporting non-GAAP measures
Warning: Non-GAAP metrics can sometimes mislead investors! That’s why some stakeholders want a formal definition of EBITDA to be added.
Chris Luckhaupt
- Apr 20
- 2 min
Spring cleaning in QuickBooks
Over time, it’s common for accounting records to become cluttered. Here are some ways for QuickBooks users to clean things up.
Kristen Mull
- Apr 20
- 3 min
New-and-improved accounting rules for common control leases
The FASB recently issued amendments to help organizations that rent property from related parties report those arrangements on balance sheet
Charlie Halcomb
- Mar 13
- 2 min
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.
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.
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