Are you a small business owner and the financial information you work with is always historical and outdated? Do you compare your financial results to your historical statements? This is commonplace for small businesses but makes it difficult to effectively manage your business and reach your goals. Here are a few priorities to improve financial
I have worked with many small and medium sized businesses over the years. My most successful clients have some best practices in common. Here are a few that could help you to advance your business. Have a short and long-term plan. Understand where you want your company to be in the next 1 to
On May 16, 2013, the FASB issued Proposed Accounting Standards Update (ASU), Leases. In our last post (LINK), we covered how this ASU creates a new definition of a lease with Type A and Type B leases. Read on to learn more about the accounting implications of this ASU.
On May 16, 2013, the FASB issued Proposed Accounting Standards Update (ASU), Leases. This proposed ASU is a complete rewrite of the lease accounting rules that have been in effect since 1976. Under existing accounting standards, a majority of leases are not reported on the lessee’s balance sheet, and the amounts involved can be substantial.
Small business owners, controllers, CFOs, and CEOs often ask whether their company needs audited financial statements. Many times the answer is not a simple yes or no: it depends. Here are some of the top reasons you may need an audit: