When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

The American Institute of CPAs' Accounting and Review Services Committee clarified a standard on financial statement preparation as part of a client advisory services engagement. Processing Content ...

Learn about consolidated financial statements, the criteria for aggregation, reporting guidelines, and practical examples for parent companies with subsidiaries.

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Learn about the Statement of Financial Accounting Concepts issued by FASB, outlining financial reporting principles and their role in shaping GAAP standards.

Reviewing the accountant’s responsibilities for fraud when performing an assurance engagement. Fraud is a serious concern that can have devastating consequences. With that in mind, there may be no ...

You’re thinking about your company’s future. How much will sales grow next year? What will your revenue look like in five years? Or, if you’re just starting out, how long will it take for your ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. There are a number of types of accounting, serving a wide ...