Owners’ equity is the difference between the assets and liabilities reported on your company’s balan...
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Audit season is just around the corner for calendar-year entities. Understanding the types of source...
How often do you reconcile your company’s internal financial records against your bank statements? B...
It’s critical for business owners and managers to understand how to present contingent liabilities a...
The pretax (accounting) profit that’s reported on your company’s income statement is an important me...
When reviewing their income statements, business owners tend to focus on profits (or losses). But fo...
As calendar-year entities wrap up financial reporting for the year, their external auditors work beh...
Running a closely held business is challenging. Owners usually prioritize core business operations —...
In recent years, the accounting rules have undergone significant changes, including updated standard...