Financial statements help investors and lenders monitor a company’s performance. However, financial statements may not provide a full picture of financial health. What’s undisclosed could be just as significant as the disclosures. Here’s how a CPA can help stakeholders identify unrecorded items either through external auditing procedures or by conducting agreed upon procedures (AUPs) that […]
A new accounting rule for reporting leases goes into effect in 2019 for public companies. Although private companies have been granted a one-year reprieve, no business should wait until the last minute to start the implementation process. Some recently revised guidance is intended to ease implementation. Here’s an overview of what’s changing. Old rules, new […]
Most businesses approach technology as an evolving challenge. You do not want to overspend on bells and whistles you will never fully use, but you also don’t want to get left behind as competitors use the latest tech tools to operate more nimbly. To refine your IT strategy over time, you have to regularly reassess […]
By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out some of the most popular options: Traditional. Employees contribute on a pretax basis, with the […]
When thinking about the ways financial experts can uncover fraud, what usually comes to mind are data analysis and other forensic accounting techniques. Nevertheless, qualified experts also keep everyday managerial accounting practices in their fraud toolkit. Variance analysis After an organization finalizes its budget, management may perform a variance analysis, reviewing differences between actual and budgeted […]
Every business owner launches his or her company wanting to be successful. But once you get out there, it usually becomes apparent that you’re not alone. To reach any level of success, you’ve got to be competitive with other similar businesses in your market. When strategic planning, one important question to regularly ask is: Just […]
Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results. When reviewing midyear financial reports, however, recognize their potential shortcomings. These reports might not be as reliable as year-end financials, unless a CPA prepares them or […]
Michael R. Torres has been appointed to serve as an accountant of record for the Cuban Exile History Museum, a proposed world-class museum in downtown Miami where visitors can embrace the significance of the Cuban exile story. Read Story