Beautifully Balanced Bank Reconciliations

Are Your Cash and Investment Accounts Ready for the Year-End Audit? Preparing for the cash and investments part of the audit can be a breeze. Your auditor will also have high hopes of flying through this section and moving on to other areas. Don’t shoot the auditor down though with bank reconciliations that don’t balance […]

Capital Assets Accounting 101

Has Anyone Ever Sat You Down and Really Explained the Process of Accounting for Capital Assets? I know, you’re probably thinking “chained down” might be a better description of what it would take to get you through a lecture on capital assets accounting.  However, if you would like to reduce, potentially to zero, the number of year-end audit adjustments […]

An Exercise in Negative Thinking

Haven’t We Always Been Told to … Think Positive? The concept of conducting a “Financial Reporting Risk Assessment” can be a difficult one to grasp.  That’s because this is an exercise which requires the accounting personnel of an organization to put their heads together and think about what could go wrong with the numbers they are generating […]

Credit Cards. To Be or Not to Be?

Are you concerned about putting credit cards into the hands of employees? We often hear questions from our clients such as… “Is it okay to make credit cards available to employees for purchasing needs?” “Can some employees carry credit cards all the time?” “How would you recommend we monitor credit cards?” “Do we have to […]