Many corporate executives continually question and analyze their business practices to achieve their goals more effectively ...

Audit and tax firms have long understood that the traditional services for which they are being engaged (e.g., conducting an ...

A company's long-term liabilities, such as bonds payable and finance leases, arise from its future cash flow obligations.

As an accounting major graduating in the spring, I have had the opportunity to study the ways in which environment, social ...

Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without ...

Ongoing Preparation Throughout the Closing Process. A key component of the ongoing planning, documentation, and preparing for the audit is having a consistent and “competent monthly closing”—and the ...

The five gateways of inventory movement (illustrated in Exhibit 1) are as follows: 1) raw materials (RM) and purchase parts receipt, 2) internal failure (scrap) reporting, 3) production reporting, 4) ...

On April 22, 2024, the Office of Management and Budget (OMB) released significant revisions to Title 2 of the Code of Federal Regulations (CFR), including 2 CFR Part 200 (the Uniform Guidance). These ...

Conditional Contributions Misconceptions. The treatment of conditional contributions was clarified by FASB with the issuance of ASU 2018-08, Clarify the Scope and Accounting Guidance for Contributions ...