3 tips to streamline your accounting processes

Whether you operate a for-profit business or a not-for-profit organization, strong accounting practices are essential for maintaining financial health and making informed decisions. These include creating budgets, monitoring results, preparing accurate financial statements, and complying with tax and payroll requirements. Over time, even efficient systems can become outdated or inconsistent. Here are three simple ways […]

How often should your business issue financial statements?

For decades, quarterly financial reporting has provided the cornerstone for fair, efficient and well-functioning markets. However, President Trump recently posted on social media that public companies should move to semiannual financial reporting. He believes changing the frequency would lower compliance costs and allow management to focus less on meeting short-term earnings targets and more on […]

FASB updates the guidance for reporting development costs for internal-use software

On September 18, 2025, the Financial Accounting Standards Board (FASB) published updated guidance on how companies must account for the costs of developing software for internal applications. The changes are expected to reduce compliance costs and improve financial reporting transparency. Here are the details. Targeted improvements When the FASB first issued its existing “internal-use software” […]

FAQs about creating and optimizing customer profiles in QuickBooks

Small business owners might be tempted to rush through setting up customer profiles in QuickBooks® just to get invoices out quickly. But the extra data fields aren’t just busy work. Complete, accurate customer records help you generate more insightful reports, communicate with customers more effectively and save time on bookkeeping tasks later. Here are answers […]

Delisting decisions: The complex road to going private

U.S. public companies may decide to delist — or “go private” — for various strategic and financial reasons. For example, chain retailer Walgreens recently finalized a private equity deal worth approximately $10 billion, after trading on the New York Stock Exchange for nearly a century. The company has endured years of regulatory and operational struggles, and […]

Evaluating business decisions using breakeven analysis

You shouldn’t rely on gut instinct when making major business decisions, such as launching a new product line, investing in new equipment or changing your pricing structure. Projecting the financial implications of your decision (or among competing alternatives) can help you determine the right course of action — and potentially persuade investors or lenders to […]

FAQs about the going concern assessment

The going concern assumption underlies financial reporting under U.S. Generally Accepted Accounting Principles (GAAP) unless management has plans to liquidate. If a going concern issue is identified but not adequately disclosed, the omission might be considered “pervasive” because it can affect users’ understanding of the financial statements as a whole. So it’s critical to get […]

Receivables Rx: Key metrics to assess the health of your cash flow

For many businesses, accounts receivable (AR) is one of the largest assets on the balance sheet. It represents the cash you’ve earned but haven’t yet collected. Efficient AR management is critical for maintaining healthy cash flow, reducing bad debt and fueling growth. But a key question often goes unasked: How do your company’s receivables compare […]

Receivables Rx: Key metrics to assess the health of your cash flow

Audit alert: Beware of potential conflicts of interest

As year end approaches, many businesses will soon be preparing for their annual audits. One key consideration is ensuring there are no potential conflicts of interest that could compromise the integrity of your company’s financial statements. A conflict of interest can cloud an auditor’s judgment and undermine their objectivity. Vigilance in spotting these conflicts is […]