Changing From a Deduction to a Credit for Foreign Taxes May Open Up Statue of Limitations For Taxpayers

September 14, 2021

Everyone knows it is better to take a credit than a deduction for the same amount of expenses. But..

EU Issues Legislative Proposals on Anti-Money Laundering

September 8, 2021

In late July, the European Union (EU) unveiled an ambitious package of legislative proposals to..

Private Companies: Are You on Track To Meet the 2022 Deadline for the Updated Lease Standard?

August 23, 2021

Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after..

Financial Statements: Take the Time to Read the Entire Story

August 9, 2021

A complete set of financial statements for your business contains three reports. Each serves a..

Internal Control Questionnaires: How to See the Complete Picture

August 2, 2021

Businesses rely on internal controls to help ensure the accuracy and integrity of their financial..

Auditing Work in Progress

July 26, 2021

Many types of businesses — such as homebuilders and manufacturers — turn raw materials into..

Follow the Cutoff Rules for Revenue and Expenses

July 19, 2021

Timing counts in financial reporting. Under the accrual method of accounting, the end of the..

Accounting Methods: Private Companies Have Options

July 12, 2021

Businesses need financial information that’s accurate, relevant and timely. The Securities and..

Hit or Miss: Is Your Working Capital On-Target?

July 5, 2021

Working capital equals the difference between current assets and current liabilities. Organizations..

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