Many corporate executives continually question and analyze their business practices to achieve their goals more effectively ...

Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without ...

Audit and tax firms have long understood that the traditional services for which they are being engaged (e.g., conducting an ...

A company's long-term liabilities, such as bonds payable and finance leases, arise from its future cash flow obligations.

Ongoing Planning, Documenting, and Preparing for Your Audit Audits tend to run smoother when NFP organizations put effort into preparing for them. This includes developing an audit plan throughout the ...

The five gateways of inventory movement (illustrated in Exhibit 1) are as follows: 1) raw materials (RM) and purchase parts receipt, 2) internal failure (scrap) reporting, 3) production reporting, 4) ...

The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising prices, FIFO typically results ...

Sustainability The establishment of sustainability accounting standards reflects growing stakeholder demand for corporate accountability. In 2011, the Sustainability Accounting Standards Board (SASB) ...

Changes to Subpart A, Acronyms and Definitions The 2024 revisions to Subpart A of the Uniform Guidance bring important changes that will impact both recipients of federal funds and their auditors.

Certain accounting standards are specific to donations, contributions, and grants from governments and foundations and are uniquely applicable to not-for-profit organizations. Nonprofits do not exist ...