Category: Financial Statement

We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and...

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.  In short, f...

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own strategic plans.  One way to e...

Nonprofit accounting has remained fairly stagnant since the 1990’s but that will be changing over the next few years, specifically with how organizations will now be recognizing revenue. In the past, it was looked at on whether it is an exchange (typically grants initiated...

Many companies or organizations that borrow from a bank, are looking to raise capital, looking to potentially sell the entity, or meet certain Federal or state specifications, are required to have some kind of independent or outside assurance of their financial statements by...

Many privately held companies have their financial statements compiled, reviewed or audited due to requirements from a governmental agency, lender, or a bonding company, but what other advantages can these services provide to a company besides meeting a requirement?  ...

The Financial Accounting Standards Board (FASB) issued ASU No. 2014-02 in January 2014 which now allows private companies to amortize goodwill for book purposes (Generally Accepted Accounting Principles – GAAP)....