Cherry Bekaert

FEBRUARY 22, 2024

Financial statement issuers must assess many items when planning to file a registration statement with the U.S. Securities and Exchange Commission (SEC), including which financial statements are required to be included in the registration statement. Rule 3-12 has a filing calendar for U.S.

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CPA Practice

SEPTEMBER 24, 2024

The AICPA is seeking to amend its standard related to financial statement preparation, which would clarify that a CPA wouldn’t be required to apply AR-C Section 70, Preparation of Financial Statements, when financial statements are prepared as a byproduct of a client advisory services (CAS) engagement.

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CPA Practice

JUNE 18, 2024

AI tools like ChatGPT can be used to streamline financial statement analysis and other client accounting service tasks. Here’s an example of what it can do with an income statement. By Sandi Smith Leyva. An important reminder is that your data needs to be anonymized before entering it into any generative AI application.

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FraudFiles

JULY 30, 2024

How prevalent is financial statement fraud in public companies? In this video, Tracy Coenen talks about the most recent COSO report on fraudulent financial reporting at U.S. public companies.

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financial statements 52

FraudFiles

OCTOBER 8, 2024

Employees in positions of power have greater opportunities to commit and conceal financial statement fraud. Tracy explains how and why this is the case in the video below.

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financial statements 52

xendoo

NOVEMBER 29, 2021

With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how to express the success of your growing business. If this scenario sounds in any way relatable, it’s time to become more familiar with the process of reading financial statements. Cash flow statements.

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Withum

DECEMBER 12, 2023

Reviewing your practice’s financial information is not something you may have come across during medical school, and it’s not something that can easily be self-taught. Getting Familiar With Your Financial Statements The two most basic financial statements are the balance sheet and income statement.

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FraudFiles

JUNE 5, 2023

If you were searching for financial statement fraud, what would you look for? Tracy talks about some of the basic/common signs you might see if Tracy Coenen teaches about some basic signs of financial statement fraud.

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financial statements 52

Accounting Today

JULY 31, 2024

The International Accounting Standards Board published a consultation document with eight proposed illustrative examples to show how companies could apply International Financial Reporting Standards when reporting the effects of climate-related and other types of uncertainties in their financial statements.

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AccountingDepartment

APRIL 26, 2021

Although individual financial statements each provide different snapshots of financial health, all financial reports reflect business activities that produce a company's profit or loss. And, banks consider basic financial statements powerful tools useful for evaluating creditworthiness and profit potential.

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LSLCPAs

SEPTEMBER 3, 2024

Let’s talk about your financial statements, which can be your Annual Comprehensive Financial Report (ACFR), Popular Annual Financial Report (PAFR), budget book, or even a small monthly report. Does your team still use manual processes to create these financial statement reports with Word and Excel?

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Dent Moses

FEBRUARY 15, 2024

Financial statements serve as a window into the health and performance of a business, offering valuable insights for investors, analysts, and stakeholders. The statements, including the income statement, balance sheet, and cash flow statement, provide a comprehensive view of a company’s financial position (and health).

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FraudFiles

AUGUST 31, 2023

When investigating fraud, I often find it useful to perform analytical review on the financial statements of a company. Even when management is certain that they know where the fraud occurred within the accounting system, analytical review can help identify unsual things about the numbers that may warrant further investigation.

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Withum

JUNE 14, 2021

They are on Financial Statement Myths and the Finances of George Washington. My webinar “season” is coming to a brief ending on Thursday with two programs I think anyone would enjoy. I have others scheduled throughout the year, but these are more appropriate for the public and not just accountants.

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Withum

DECEMBER 19, 2023

As these companies gain traction and seek external investments, audited financial statements play a crucial role in instilling trust among stakeholders, investors, and potential partners. 10 Key Steps Here are the key steps startup e-commerce companies can take to prepare for their audited financial statements.

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LSLCPAs

AUGUST 15, 2024

As part of your ongoing profitmaking endeavors, you will work closely with banks and lending institutions who will need to see your financial statements occasionally. The post How to Prepare Financial Statements for Your Bank: What Your Banker Looks for and Why appeared first on LSL CPAs.

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Withum

FEBRUARY 22, 2021

“How to Read and Analyze a Financial Statement” is the topic of my next Take A Business Break program at the East Brunswick Public Library on this Thursday Feb. 25 at Noon.

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financial statements 87

Shay CPA

AUGUST 23, 2023

” However, when it comes to financial statement audits, the timing isn’t quite as forgiving as planting trees. Understanding the dynamics of your financial health is crucial for early-stage tech companies. One such decision is when to conduct a financial statement audit. The second-best time is now.”

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FraudFiles

JANUARY 26, 2023

With thousands of detailed accounting rules, how can there be financial statement fraud? There are areas of the financial statements that rely heavily on the judgment of management. They make estimates and decide how to apply the accounting rules. This leaves the door wide open for abuse.

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FraudFiles

DECEMBER 23, 2022

By far the most common way that executives manipulate financial statements is through the overstatement of revenue. The reason is simple: It’s the easiest way to improve the appearance of the company’s financial condition.

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FraudFiles

AUGUST 11, 2023

The notes to financial statements are often lengthy and boring. But they can provide very important information about a company. On the most basic level, they provide details behind the company’s numbers. But they can also provide clues to fraud or other irregularities that may be occurring. Tracy gives a …

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AccountingDepartment

MAY 19, 2021

As a business owner or manager, you likely spend some time generating and analyzing financial statements. However, no two statements are of exactly the same importance. Some financial statements are essential to understanding the financial health of a business while others are less significant.

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Accounting Today

JUNE 4, 2024

ChatGPT accurately predicted earnings directions 60% of the time versus 52.71% for human analysts.

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SkagitCountyTaxServices

MAY 11, 2022

We’d be happy to sit down with you, take a look at those financial statements and see how we can get your business on steadier ground. We’ll start by taking a look at the big three financial statements: balance sheet, income statement, and cash flow statement. The big three financial statements.

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FraudFiles

OCTOBER 28, 2021

Financial statement fraud happens is one of the most costly types of fraud. It is a significant problem because people inside and outside the company rely on the information provided in the financial statements. Upper management or company owners are the ones who are usually responsible for financial statement fraud.

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Basis 365

JULY 28, 2022

You spend a lot of time analyzing financial statements as a manager or owner of a business. Of course, each statement is essential, but not all statements are equally important. While some financial statements are vital to understanding a company's financial health, others are less important.

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Wendy Tietz

SEPTEMBER 9, 2024

In May of 2024, Apple announced a share buyback authorization of $110 billion, which is the largest in share repurchase authorization in U.S. Apple may not buy back the full $110 billion of its stock; the board’s authorization is simply the maximum amount of stock that can be repurchased. However, based on Apple’s history, […]

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AccountingDepartment

JULY 1, 2021

While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies.

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Canopy Accounting

NOVEMBER 10, 2023

Welcome to the world of "Basic Financial Management," a transformative course that equips you with the tools to navigate and interpret the three fundamental financial statements – the Balance Sheet, Income Statement, and Cash Flow Statement.

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financial statements 52

FraudFiles

JUNE 18, 2021

Tracy Coenen teaches a group about some of the most common red flags of financial statement fraud. More information on corporate fraud is available in Tracy’s book, Essentials of Corporate Fraud.

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financial statements 52

FraudFiles

NOVEMBER 12, 2021

Financial statement fraud impacts any person or organization that has a financial interest in the success or failure of a company. The manipulation of financial statements also affects employees. This is an indirect cost of financial statement fraud, but its impact on companies is direct.

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Wendy Tietz

AUGUST 1, 2022

To follow are Chipotle’s four basic financial statements for its most recent year, the year ending December 31, 2021. Please note that all statements have been adapted and condensed for educational use and should not be used […]. Chipotle Mexican Grill, Inc.

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FraudFiles

MARCH 1, 2022

Performing analytical review on the financial statements of a company is an important part in the fraud detection process. Financial statement line items compared to one another. Actual financial results compared to budgeted or projected figures prepared before that accounting period.

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Wendy Tietz

APRIL 28, 2022

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions.

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FraudFiles

SEPTEMBER 28, 2022

The manipulation of a company’s financial statements does not occur as often as asset misappropriation schemes like payroll fraud, check kiting, or inventory theft. And the losses from financial statement fraud aren’t readily apparent to most people. Stock price becomes inflated. Investors want their money back.

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