Accounting Articles

More than 32 million U.S. businesses are required to file beneficial ownership information (BOI) reports this year, but the clock is ticking.

It can be a challenge to keep your financial records as healthy as your patients, but there are ways to do both.

Privately held companies typically issue financial statements once each year to help stakeholders evaluate the financial health of their company. But why wait when more frequent financial reporting can provide more timely insight?

A proposed change by the Financial Accounting Standards Board would create a standardized method for public and private companies to report government grants.

As more companies report goodwill impairment issues and write-offs, it’s important for business owners to know the rules.

A FASB advisory group will focus on four big regulatory issues faced by private businesses this year and determine whether changes are needed.

Comprehensive financial reporting often isn’t a priority for many dental practices, but it’s a growing necessity in a competitive marketplace.

Outsourcing payroll, also known as managed payroll, can decrease risk, increase accuracy, protect sensitive data and improve business continuity.

Businesses typically adopt one of two common accounting standards – either U.S. Generally Accepted Accounting Principles (GAAP) or tax-basis reporting accounting – to prepare their financial statements. Knowing the differences is crucial to decide which is best for you.

Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.

Extensive reporting requirements stemming from the Corporate Transparency Act will affect many business owners starting January 1.

New guidance will require that a joint venture must initially measure its assets and liabilities at fair value on the formation date.

Estimating is among the most important areas of proficiency for any construction business. Here are 10 ways to potentially improve your company’s estimates.

An interim CFO can provide a wealth of experience and insight and potentially save you considerable time and expense.

Have you connected your bank accounts to QuickBooks Online? It’s a great way to simplify your transaction tracking.

Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.

Take a closer look at recent changes in tax accounting methods for cost recovery, losses, and more.

The guidance on classifying cash flows among operating, investing, and financing activities remains a gray area – even more confusing when transactions have aspects of more than one type of activity.

These days, more businesses are filling vacant positions and saving money by using independent contractors. Knowing the basic rules can keep you out of trouble with the IRS.

Bank collapses in the U.S. aren’t common, but when it happens, it can be a harrowing experience for customers whose money is at risk. Limit your potential losses by remembering these key points of FDIC coverage.

Business leaders are at odds with the FASB over the impact of ASU No. 2023-ED100, which would drastically change the way tax and rate reconciliation figures are disclosed.

Higher costs for labor and materials are still putting a chill on profitability for many construction companies. These eight steps might seem simple, but overlooking just one could cost you money.

Fraud is an ever-present threat for construction businesses, both in the office and on jobsites. That’s why contractors must leave no stone unturned when trying to prevent it.

Misunderstanding the complex rules of tracking employee hours can lead to errors, confusion, and wasted hours. Here are a few ways to hold the line for your next construction project.

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.