Accounting

The Financial Accounting Standards Board (FASB) made favorable changes to the accounting rules for crypto…

How often do you reconcile your company’s internal financial records against your bank statements? Bank…

Owners’ equity is the difference between the assets and liabilities reported on your company’s balance…

Goodwill impairment is often a negative indicator. It potentially signals that a business combination failed…

Audit season is just around the corner for calendar-year entities. Understanding the types of source…

A chart of accounts is the foundation of accurate financial reporting, so it needs to…

The pretax (accounting) profit that’s reported on your company’s income statement is an important metric.…

Financial statements help managers, lenders and investors evaluate a company’s financial performance. But they tell…

It’s critical for business owners and managers to understand how to present contingent liabilities accurately…

Running a closely held business is challenging. Owners usually prioritize core business operations — such…