Going Concern

APRIL 12, 2024

electric carmaker Tesla, has failed to properly reflect fines in its financial statements and was issued a “qualified opinion” from an accounting firm on April 10. billion won in corporate taxes, but its management team recorded the amount as a receivable in its financial statements. Tesla Korea was subjected to 25.1

CPA 89

CPA auditor Tax audit 89

CPA Practice

APRIL 7, 2023

With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies. While there’s an urgency for organizations to scale back investments to offset the higher costs of doing business, they can’t afford to cut spending on technology during trying times.

accounting firms 139

accounting firms CPA Technology Account 139

CPA Practice

APRIL 3, 2023

With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies. While there’s an urgency for organizations to scale back investments to offset the higher costs of doing business, they can’t afford to cut spending on technology during trying times.

accounting firms 135

accounting firms CPA Technology Account 135

RogerRossmeisl

FEBRUARY 25, 2024

Although financial statement fraud is the least common form of occupational theft (9% of incidents), it costs organizations the most in financial losses, according to the Association of Certified Fraud Examiners. Businesses defrauded by financial statement schemes had median losses of $593,000.

accounting principles 158

accounting principles Account accountant accounted 158

CPA Practice

AUGUST 30, 2023

And it popped up at a session during the first day of the 2023 Unique CPA Conference, “Bridging the Gap,” in the Chicago suburb of Rosemont, IL, on Tuesday. Pretty much overwhelmingly they said it was because you have to have an accounting degree and a CPA, which isn’t true. You don’t have to be a CPA. It’s not glamorous.

cpa firm 105

cpa firm CPA cpas Maryland 105

ThomsonReuters

FEBRUARY 28, 2024

She decided to skip law school and instead took a job as a bookkeeper, finding her chosen profession and going back to school to earn her CPA. A culture of happiness and growth In the six years after she became a CPA, Shaul worked at several accounting firms and experienced some less-than-ideal managers.

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

RogerRossmeisl

NOVEMBER 6, 2023

When preparing a business valuation, quantitative data — from tax returns, financial statements, contracts and other sources — is important. The post Management Interviews are a Critical Part of the Business Valuation Process appeared first on Roger Rossmeisl, CPA. But there’s more to a company than numbers.

tax return 220

tax return CPA financial statements Tax 220

RogerRossmeisl

MAY 15, 2023

Valuing a business requires more effort than just plugging numbers from the financial statements into a spreadsheet or artificial intelligence software program. Financial statements, tax returns and marketing materials tell only part of the story. Site visits can help bridge the gap, especially in adversarial situations.

tax return 221

tax return financial statements CPA Tax 221

xendoo

AUGUST 2, 2021

How much does a CPA cost in 2021? Do you really need a CPA as well as a bookkeeper? . Before you start hiring financial staff, you should consider the needs of your business. What Does a CPA Cost? How much does a CPA cost? How much does a CPA cost? The Difference Between a CPA and a Bookkeeper.

CPA 88

CPA forensic accounting bookkeeping tax preparation 88

CPA Practice

APRIL 9, 2024

What tactics are ‘hot’ this season Phishing continues to be one of the main vectors for tax-related scams this year with malicious actors impersonating legitimate entities to trick CPA professionals into divulging sensitive information or downloading malicious software. The key to securing and maintaining clients will always be trust.

cpas 118

cpas Tax cpa firm tax return 118

CPA Practice

APRIL 22, 2023

Mike is an army Veteran and an MBA from Baylor University, and is mostly known for: Being the author of two books: The 7 Minute Conversation, and Don’t Be A DUMB Business Owner – both focused on using financial statements to find hidden cash in your business.

financial statements 52

financial statements accounting and finance payroll accounting software 52

RogerRossmeisl

OCTOBER 29, 2023

It’s also a common financial statement adjustment that valuators make when valuing a business. The post How Business Valuation Professionals Estimate Reasonable Compensation appeared first on Roger Rossmeisl, CPA. Reasonable compensation is an issue that comes into play in divorce, shareholder disputes and tax cases.

financial statements 183

financial statements CPA Tax Sales 183

RogerRossmeisl

JULY 16, 2023

Look at the numbers During the due diligence process of a merger or acquisition, forensic experts review financial statements for subtle warning signs of fraud. Not if your Seller’s Hiding Something appeared first on Roger Rossmeisl, CPA. The post Good Acquisition?

forensic accounting 208

forensic accounting financial statements CPA Legal 208

LyfeAccounting

MARCH 10, 2021

In this post, we want to provide you with some more clarity on CPA services. Now, CPAs can provide a number of services to small businesses. But no other professional can provide all of the services that CPAs provide. So then… what are CPA services? What are CPA Services? What is a CPA? Compilations.

CPA 52

CPA cpas bookkeeping tax preparation 52

RogerRossmeisl

MAY 30, 2022

Financial statements are an important source of data for valuing a business. To help clarify matters, experts often make various adjustments to the financials. The post Taking a Red Pen to Financials for Valuation Purposes appeared first on Roger Rossmeisl, CPA. But they tell only part of the story.

financial statements 226

financial statements CPA Legal 226

CPA Practice

JANUARY 17, 2024

Drawing inspiration from the customer-centric and digital experiences offered by modern companies, CPAClub was driven to address the profession’s staffing shortages and streamline outdated processes by upending the traditional CPA firm model. Traditional CPA and consulting firms’ approaches have become outdated and ineffective.

CPA 40

CPA cpa firm audit auditor 40

ThomsonReuters

MAY 12, 2023

As CPA firms navigate the ever-evolving digital economy, they are faced with various challenges that threaten their profitability and longevity. From leveraging automation and artificial intelligence to recruiting and retaining top talent, CPA firms must find innovative solutions in order to stay competitive.

cpa firm 52

cpa firm CPA Technology cpas 52

RogerRossmeisl

NOVEMBER 13, 2022

So valuators conducting an appraisal might ask management about the company’s internal controls — its policies and procedures to protect assets and ensure reliable financial statements. The post When a Valuation Professional Finds Fraud appeared first on Roger Rossmeisl, CPA. They may look for particular internal.

financial statements 241

financial statements CPA 241

RogerRossmeisl

JULY 17, 2022

The cost (or asset) approach specifically focuses on this part of a company’s financial statements. The post How to Use the Cost Approach to Value a Business appeared first on Roger Rossmeisl, CPA. Here’s an overview to help you understand this valuation technique. How does it work?

accounting principles 204

accounting principles CPA financial statements Account 204

RogerRossmeisl

MAY 5, 2023

Before a business goes on the market, a valuation pro can help address the following critical items: Financial statements. Audited financial statements offer prospective buyers greater assurance than reviews, The post Selling a Private Business?

financial statements 148

financial statements audit CPA Tax 148

RogerRossmeisl

JANUARY 26, 2022

This financial statement reports “book values” for the company’s assets and liabilities. The post The Cost Approach to Valuing a Business appeared first on Roger Rossmeisl, CPA. The cost (or asset-based) approach to valuing a business focuses on the balance sheet.

Real Estate 224

Real Estate accounting principles CPA financial statements 224

Going Concern

OCTOBER 2, 2023

We didn’t get around to writing up this September 25 news release from CPA Ontario last week, better late than never. Thus concludes CPA Ontario’s investigation and prosecution of offences under the Chartered Professional Accountants of Ontario Act, 2017 , and the Public Accounting Act, 2004. million CDN (approx.

audit 103

audit public accounting CPA financial statements 103

CPA Practice

MARCH 18, 2024

HBA’s 40 years of expertise in Cleveland ranges from audits, financial statements, income taxes, estate planning, and financial planning and advisory services. JHM is also a member of the large firm alliance CPAmerica, which provides further resources and expertise for its clients.

cpa firm 52

cpa firm CPA Tennessee Real Estate 52

RogerRossmeisl

MARCH 14, 2021

Plan early to engage a fraud expert to review financial statements and other documents for signs that you could be dealing with a dishonest seller. Subtle warning signs When reviewing a seller’s financial statements, forensic experts look for subtle warning signs of fraud.

financial statements 246

financial statements CPA Sales 246

RogerRossmeisl

MAY 8, 2022

Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. Unusual changes Your statement of cash flows shows how cash changed during the year.

forensic accounting 241

forensic accounting accounting and finance financial statements CPA 241

xendoo

MARCH 18, 2021

When you have more questions than a bookkeeper can answer, you’ll probably need to look into CPA services. Read on to see if online CPA services are best for you and your business. What is a CPA? It’s important to understand the differences between a Certified Public Accountant, CPA, and a regular accountant. Bookkeeper?

CPA 52

CPA bookkeeping tax return cpas 52

RogerRossmeisl

FEBRUARY 20, 2023

So, prospective financial statements can be subjective and risky, especially in today’s volatile marketplace. Professional skepticism When evaluating prospective financials, valuators must exercise professional judgment and consider making adjustments where necessary. However, no one can see into the future.

financial statements 175

financial statements CPA 175

RogerRossmeisl

MAY 5, 2022

An experienced business valuation professional considers more than just a company’s financial statements when quantifying its value. The post Looking Beyond the Financials for Clues to a Business’s Value appeared first on Roger Rossmeisl, CPA.

financial statements 230

financial statements CPA 230

RogerRossmeisl

FEBRUARY 14, 2023

Challenging the status quo The last three to five years of financial statements are usually on the list of documents experts use to value a business. With some companies, it’s possible to simply take historical financial statements and apply an assumed growth rate into perpetuity.

financial statements 130

financial statements CPA 130

ThomsonReuters

MARCH 26, 2021

Now that tax season is in full swing for many practitioners, you may find yourself questioning if this is the right time to break off and explore starting your own CPA firm. Starting your own CPA Firm: Don’t be afraid of a niche. I’d been at a large regional CPA firm for most of a decade. There’s plenty of work to go around.”.

cpa firm 98

cpa firm CPA Non-Profits Start-ups 98

RogerRossmeisl

JANUARY 1, 2024

Occupational fraud usually falls into one of three major categories: asset misappropriation, corruption (such as bribery) or financial statement fraud. The post Fraud Prevention Strategies for Entrepreneurs and Small Businesses appeared first on Roger Rossmeisl, CPA.

financial statements 100

financial statements CPA 100

Going Concern

JULY 1, 2022

The growers and sellers of these products, having been empowered to do so in daylight rather than the shadows of your nearest high school parking lot, are just as in need of skilled CPAs as any other business. So how do CPAs get into this niche? CPA Firms Going to Pot: Is There an Opportunity in the Retail Marijuana Industry?

cpas 67

cpas CPA Legal cpa firm 67

CPA Practice

DECEMBER 22, 2023

By Kaitlin Accardi, CPA. Occupational fraud, or fraud committed by individuals against the organizations that employ them, is often considered one of the most costly and common forms of financial crime. Financial Statement Manipulation Manipulation of financial statements is another common form of fraud.

Expense Reimbursements 117

Expense Reimbursements payroll general ledger financial statements 117

Going Concern

JANUARY 9, 2023

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

CPA 87

CPA auditor Tax Account 87

RogerRossmeisl

NOVEMBER 27, 2020

if a senior manager intentionally ignores the rules to manipulate financial statements. Warning signs Management overrides of financial controls can be difficult to detect. The post Controls are Ineffective When Managers Go Rogue appeared first on Roger Rossmeisl, CPA. Your company is at even higher risk of fraud losses.

accounts payable 168

accounts payable CPA financial statements Account 168

Going Concern

MAY 24, 2023

This isn’t much different from a sole proprietor CPA teaching his high school daughter how to enter receipts in Excel to make a little extra cash over the summer. We’re still going to have debits and credits, financial statements, and audits. Over time, she gets faster and better at inputting the data with a little practice.

CPA 89

CPA Technology accounts payable Accounts Payable Automation 89

RogerRossmeisl

AUGUST 18, 2021

They’re uniquely qualified to review financial statements and business records and to interview employees to find evidence of misrepresentations and theft. The post How to Work with a Forensic Accountant appeared first on Roger Rossmeisl, CPA. In many cases, they’re able to help recover missing funds.

forensic accounting 181

forensic accounting Account accountant accounted 181