This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
accounting firms accounting standards financial statements 
CPA Practice
JUNE 24, 2024
I asked ChatGPT what forms it recommended for a CPA firm. Here is the answer I got (since ChatGPT is nondeterministic, you won’t get the exact same answer I got.): For a CPA (Certified Public Accountant) firm, creating and utilizing various forms and templates can significantly streamline practice management tasks.
125 
CPA Practice
JULY 23, 2024
Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting.
122 This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Cash Flow Secrets Every Upskilled CPA Should Know
Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape
Outsourcing Vs. In-House: The Ultimate Battle For Better Collections
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
The Silent Crisis: Why Finance Lags in Digital Transformation and How to Accelerate AI Adoption
CPA Practice
SEPTEMBER 7, 2023
The Financial Accounting Standards Board (FASB) unanimously approved new rules on Sept. I think this [standard] moves the needle there. I think we heard overwhelmingly from investors that allocate capital based on the use of financial statements that this will provide them better information to make their decisions.”
Cash Flow Secrets Every Upskilled CPA Should Know
Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape
Outsourcing Vs. In-House: The Ultimate Battle For Better Collections
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
The Silent Crisis: Why Finance Lags in Digital Transformation and How to Accelerate AI Adoption
Accounting Insight
NOVEMBER 5, 2024
The IRIS Elements suite now offers three tiers: IRIS Elements Essential for smaller practices and startups, IRIS Elements Professional for mid-tier firms and, now, IRIS Elements Enterprise for firms serving complex clients. “In
Cherry Bekaert
AUGUST 31, 2023
Contributors: Jack McKee, Manager, Government & Public Sector With staffing challenges and exceedingly more complex Government Accounting Standards Board (GASB) requirements , many government and public sector organizations are finding it difficult to focus on their core mission and deliver results for constituents.
98 
Basis 365
JUNE 29, 2023
A bookkeeper is responsible for maintaining accurate and up-to-date financial records for a business. They record transactions, reconcile accounts, and generate financial statements. In addition, bookkeepers typically handle day-to-day financial tasks such as invoicing, accounts payable, and accounts receivable.
90 
CPA Practice
JANUARY 17, 2023
For accounting firms, this is the calm before the storm. The year is over, and it’s likely to be a few weeks before year-end financial reports start coming in from your clients. What the ASC 842 lease accounting standard could mean to your clients. This doesn’t impact the income statement. By Ane Ohm.
Going Concern
MARCH 24, 2023
This article will explore how firms can transform a disengaged team and provide actionable insights firm leaders can set in motion today. Firm Watch Ex-BDO USA Workers Advance Narrowed 401(k) Plan Fee Challenge [ Bloomberg Law ] Former BDO USA LLP employees who accused the accounting firm of mismanaging their $1.2
105 
Basis 365
FEBRUARY 20, 2023
A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. It's one of the most important financial documents to help you make informed decisions, plan for the future, and secure financing. What is a Balance Sheet?
Going Concern
APRIL 7, 2023
[ Wall Street Journal ] A tap story from WSJ says accountants and writers are among the jobs that could be most affected by AI tools (*gulp*) Big 4 March people moves: KPMG, Deloitte, PwC make senior hires [ AccountancyAge ] Musical chairs across the pond. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K.
105 
ThomsonReuters
DECEMBER 6, 2022
Shedding light on the tie between ESG matters and their direct or indirect impact on a company’s financial statements, the Financial Accounting Standard Board (FASB) published in 2021 the Intersection of Environmental, Social, and Governance Matters With Financial Accounting Standards.
59 
Menzies
NOVEMBER 3, 2022
Menzies LLP - A leading chartered accountancy firm. Which accounting standard should you use? When preparing a set of financial statements in the UK there is a choice of accounting standard to apply in order to comply with UK Companies Act 2006.
CPA Practice
MAY 29, 2024
In today’s accounting landscape, accounting firms face myriad challenges. Additionally, time constraints and data security concerns add to the complexity of accounting processes, creating additional hurdles for firms to navigate. By David Osborne, Chief Executive Officer, Caseware International.
59 
Menzies
DECEMBER 6, 2023
Menzies LLP - A leading chartered accountancy firm. FRS 101 is a framework that allows qualifying subsidiaries to benefit from a reduced disclosure requirement in their individual financial statements. We can also provide practical advice on the preparation of financial statements and the disclosure of information.
ThomsonReuters
OCTOBER 18, 2024
Statutory reporting is a critical process for multinational corporations, involving the preparation and submission of financial statements to comply with legal obligations across various jurisdictions. Key components of statutory reports include financial statements and ESG disclosures, enhancing stakeholder trust and governance.
52 
Going Concern
MARCH 8, 2024
Among other findings, the SEC found that CSH violated Rule 2-01 of Regulation S-X (the Rule) by providing prohibited non-audit services to Lordstown while also engaged in auditing Lordstown’s financial statements (which were then used in connection with Lordstown’s registration statements and periodic reports filed with the SEC).
100 
ThomsonReuters
JANUARY 12, 2023
The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . Essentially, the work completed by an accountant is certified by an auditor. . The purpose of conducting an audit is to obtain an independent opinion about a company’s financial statements.
59 
CPA Practice
APRIL 11, 2023
The Financial Accounting Standards Board ( FASB ) will host a fireside chat on Tuesday, April 11, 2023, from approximately 1:00 – 1:30 p.m. and former SEC chief accountant. EDT, with Rich Jones, FASB Chair and Wes Bricker, PwC – Vice Chair US/Mexico Trust Solutions Co-Leader, current chair for XBRL International Inc.,
CPA Practice
FEBRUARY 22, 2024
On a positive note, the study found over half of companies use the Sustainability Accounting Standards Board (SASB) Standards and the Task Force on Climate-related Financial Disclosures (TCFD) Framework, which should ease the transition to the International Sustainability Standards Board (ISSB) standards released last year.
Ryan Lazanis
APRIL 18, 2023
6) Cost Savings AI’s process automation can save accounting firms time and money by automating routine tasks, freeing up workers to focus on strategic initiatives, and enabling businesses to increase productivity and profits while cutting expenses.
96 
CPA Practice
AUGUST 1, 2023
The Financial Accounting Standards Board ( FASB ) has published a proposed Accounting Standards Update (ASU) intended to provide investors with more decision-useful information about a public business entity’s expenses. Stakeholders are encouraged to review and provide comment on the proposal by October 30, 2023.
CPA Practice
OCTOBER 29, 2024
GBQ Partners, a full-service accounting firm with over 300 professionals across multiple Ohio offices, has established itself as a trusted advisor to clients in construction and various other industries. In the past, leases were often an afterthought, especially operating leases, which were only a footnote in financial statements.
52 
PYMNTS
OCTOBER 25, 2019
Top accountancy firms are asking the Financial Accounting Standards Board (FASB) to clarify how corporates should report on supplier finance programs that are in place, according to Compliance Week reports on Friday (Oct. “Trade payables classification tends to be treated more favorably than borrowings (i.e.,
40 
Cherry Bekaert
APRIL 3, 2023
Third-party firms working with businesses can align with, enhance and protect the business’ reputation. There are specific third-party financial risks that are evaluated in a leading practice TPRM analysis. It relies on having solid financial reports on a company and the third parties with which it does business.
CPA Practice
NOVEMBER 25, 2024
The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of Robert W. Scott to a five-year term on the Governmental Accounting Standards Board (GASB). Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche.
52 
Menzies
FEBRUARY 13, 2023
Menzies LLP - A leading chartered accountancy firm. Failure to apply IFRS 15 properly could lead to a material misstatement of revenue and profit in a business’ financial statements. Blog How will the new accounting standards impact construction companies? read more What is IFRS 16?
10 
Menzies
JANUARY 7, 2024
Menzies LLP - A leading chartered accountancy firm. We help you to navigate through annual reporting requirements and explain why adherence to the Financial Reporting Standard (FRS 102) goes beyond the basics outlined by the FCA.
59 
Basis 365
JANUARY 13, 2025
Complex Accounting Businesses dealing with more complex accounting requirements or more of a management accounting focus can benefit from outsourced bookkeeping experts who specialize in these areas. Its what outsourced accounting companies do. Hiring a fractional team based on the exact skills you need isnt feasible.
52 
Going Concern
AUGUST 2, 2024
Big 4 PCAOB Inspection Reports Show Increase in Audit Deficiencies by Big Four Firms [ NYSSCPA’s The Trusted Professional ] The PCAOB inspected 215 audits conducted by all Big Four accounting firms in the United States, down from 220 a year earlier. PwC chief’s $1.2m Axiom is a natural fit within the CLA family.
59 
Basis 365
SEPTEMBER 18, 2024
In this blog, we'll explore the significance of maintaining an accurate income statement and how it can propel your business towards sustained success. What is an Income Statement? An income statement is one of the three fundamental financial statements, alongside the balance sheet and cash flow statement.
ThomsonReuters
JANUARY 12, 2023
The experience necessary to audit financial statements, audit regulatory information, and manage internal controls attestation translates well for auditors who can seamlessly apply this knowledge to ESG data sets. . ESG audit checklist. Investors and stakeholders are increasingly seeking transparency in ESG initiatives.
52 
Withum
FEBRUARY 1, 2023
Every year the top dealership accounting firms and CFOs converge to discuss the latest hot topics as they relate to dealerships and dealership accounting issues. This year, a group from Withum attended to bring all of the best information back to our clients and our team.
Anders CPA
FEBRUARY 28, 2024
Not just how much you have on hand, but how effectively you’re keeping track of it and ensuring your cash management practices and financial statements allow you to run your business with as few surprises as possible. That said, everything your business does comes down to cash.
Going Concern
OCTOBER 7, 2022
The focus groups are part of a “whipping operation” aimed at establishing support for the break-up within the partnership, identifying partners who may vote against the proposals so that they can be persuaded to change their minds, according to one person familiar with the firm’s strategy. stood at 3.18 trillion won ($2.24 trillion won.
98 
Going Concern
MARCH 4, 2022
SEC Chief Accountant Lauds FASB for Engaging Investors, Stakeholders on Potential New Standards [ JD Supra ] Paul Munter, acting chief accountant for the SEC’s Office of the Chief Accountant, on Feb. Bureau of Labor Statistics reported Friday, although the number of accounting and bookkeeping jobs declined by 800.
91 
Going Concern
APRIL 15, 2024
In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match. Right now, they don’t.
64 
Going Concern
JULY 15, 2022
All of cryptocurrency’s wild swings would get captured by rules the Financial Accounting Standards Board is considering. But most significantly, assuming the market recovers, company financial statements would get to reflect crypto price rebounds, not just downturns as under current reporting.
52 
Going Concern
JULY 29, 2022
is in the midst of a long-awaited overhaul of the audit and accounting industry, which will bring with it a new regulator to replace the FRC called the Audit, Reporting and Governance Authority. It puts pressure on what companies report in their financial statements, the rules for which are crafted by the Financial Accounting Standards Board.
119 
Going Concern
NOVEMBER 18, 2022
KPMG has been blocked from winning new audit contracts in Abu Dhabi after regulators removed the Big Four firm from the list of accountants authorised to sign off companies’ financial statements. Teaching Accounting Students an Alphabet Soup of Technology [ The CPA Journal ]. Law & Order.
96 
Going Concern
JANUARY 20, 2023
Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.
98 
Going Concern
MARCH 3, 2023
Bitcoin Miner Accounting Woes Reflect Lack of Official Rules [ Bloomberg Law ] The accounting slip-ups that forced two Bitcoin miners to flag this week that they’d have to redo several quarters of their past financial statements could soon be a moot point, as US accounting standard-setters eye a crypto accounting fix.
105 
ThomsonReuters
DECEMBER 27, 2024
Blog home With the introduction of Accounting Standards Update 2023-08, Subtopic 350-60, the landscape for accounting, audit, and assurance of cryptocurrency is evolving. What should accountants look for in cryptocurrency audit software? What is an auditors responsibility in crypto audits?
52 
Going Concern
OCTOBER 25, 2024
Firm Watch Whistleblower says big accounting firm hid evidence that a Saudi co-defendant helped finance 9/11 [ Florida Bulldog ] So this is…a lot. For the second year in a row, New York-based accounting firm PKF O’Connor Davies took the #1 spot on Vault’s Best Overall Internships list.
Going Concern
FEBRUARY 17, 2023
” Big Four: EY, Deloitte, KPMG, and PwC step on law firms’ toes increasing legal revenue to £1.25bn [ City A.M. ] The Big Four accounting firms – EY, Deloitte, KPMG, and PwC – are capturing an ever-larger share of the global market for legal services. Regulators are, in general, supportive.”
98
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content