Assurance

Financial records and reporting are a vital part of managing the operations of a non-profit organization. Without accurate financial recording and reporting, a non-profit organization will be missing a key component in the decision-making process, opening itself up to potential […]

Segregation of Duties (SOD) is fundamental to maintaining internal controls and practicing good risk management within an organization. Over the lifespan of an asset or transaction, the key principle of SOD is that no individual is completely responsible for authorization, […]

In my last post, I listed items required to calculate right-of-use assets and lease liabilities. Outlined below are the components of Excel’s present value formula and how each input can be affected in the application of the new lease standard. […]

As discussed in an earlier post, private companies who prepare financial statements in accordance with generally accepted accounting principles (GAAP) will soon be making big changes in lease reporting. Under the new standard (ASC 842), all leases for a period […]

Are your company’s financial statements prepared under generally accepted accounting principles? Does your company have signed rent or lease agreements for office space, warehouse space, rent, land, or equipment? Do those agreements include services, supplies, or maintenance? Does your company […]

In 2019, the American Institute of Certified Public Accountants (AICPA) issued Statement on Auditing Standards 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (SAS 136) with the goal of improving audit quality […]