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Quality management system

From quality control to quality management: New AICPA quality standards are here—is your firm ready?

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If your accounting firm issues reports on financial statements, you likely know the AICPA issued new standards on quality management last year. Although the standards aren’t effective until late 2025, it’s imperative to start implementing them now.

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in-kind contributions

Non-monetary donations: What to do with kindness in-kind

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Non-cash donations to a nonprofit organization are called in-kind contributions, and they come with their own set of requirements—that apply to both the nonprofit and its donors.

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Preparing for Your Government Audit

5 Benefits of preparing for your government audit all year long

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Your government audit takes place once a year so it can be tempting to only think about it, well, once a year. But preparing last-minute can increase your audit-related stress and keep your organization from being truly prepared.

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Current Expected Credit Loss

Measuring credit losses on financial statements

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Under the “current expected credit loss” (CECL) model, entities will will need to consider all forward-looking information when determining allowances for credit losses. Here’s what you need to know about the model.

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GASB

GASB Updates: How to prepare your organization

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Webinar hosted Wednesday, November 8, 2023   |   11:00 AM – 12:00 PM CDT
Join us for our upcoming webinar which will provide an overview of the new GASB standards and help you understand how they will impact your organization.

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Reporting UTPs on your financial statements

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Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Check out this overview of the rules for uncertain tax positions (UTPs) under GAAP.

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GASB 96

What your organization should know about GASB 96

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If your organization is like most, it maintains several—if not dozens—of software subscriptions. Now, thanks to GASB Statement No. 96, your organization will need to account for and disclose these subscriptions.

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strong billing processes

Strong billing processes are critical to healthy cash flow

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Cash flow is the lifeblood of a successful company, and your billing processes have a huge impact on it. Here’s how to maintain strong practices and ensure healthy cash flow.

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In financial planning, forecasts and projections aren’t the same

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No business owner has a fully functional crystal ball. But a carefully created forecast or projection can help you better prepare for the future.

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Turning receivables into cash

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Collecting payment from customers takes time and patience. To bridge the cash gap, consider some creative strategies to monetize outstanding receivables.

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