Basic Financial Statements That Anyone Should Know

AccountingDepartment

Although individual financial statements each provide different snapshots of financial health, all financial reports reflect business activities that produce a company's profit or loss.

How Financial Statement Fraud is Done

FraudFiles

Financial statement fraud happens is one of the most costly types of fraud. It is a significant problem because people inside and outside the company rely on the information provided in the financial statements. It is, in fact, financial statement fraud.

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The Non-Profit Financial Statement Breakdown

AccountingDepartment

While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies.

The Four Most Important Financial Statements for Your Business

AccountingDepartment

As a business owner or manager, you likely spend some time generating and analyzing financial statements. However, no two statements are of exactly the same importance. Let’s take a look at the most important four financial statements for all businesses.

Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner.

Financial Statement Fraud Red Flags

FraudFiles

Tracy Coenen teaches a group about some of the most common red flags of financial statement fraud. Financial Investigations VideosMore information on corporate fraud is available in Tracy’s book, Essentials of Corporate Fraud.

10 Financial Statement Areas to Watch for COVID-Related Effects

Marlogin,Winer&Evens

Has your organization factored the effects of the pandemic into its financial statements? You might not have considered this question since last year if your organization prepares statements that comply… The Bottom Line Featured Post Accounting & Auditing Featured Content

How to Read a Financial Statement

Withum

“How to Read and Analyze a Financial Statement” is the topic of my next Take A Business Break program at the East Brunswick Public Library on this Thursday Feb.

How Will A Debt Modification Affect Your Financial Statement?

Withum

Articles

CAP Series- Article #2: Logistics of a CAP audit, and comparing CAP Audits and Financial Statement Audits

Withum

Articles

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The Income Statement Breakdown

AccountingDepartment

An income statement is a critical financial statement for reporting a business's financial performance. It can also be referred to as a revenue and expense statement.

How to Read a Statement of Cash Flows

AccountingDepartment

Entrepreneurs running a start-up, corporate department managers, and small business owners need enough bookkeeping knowledge to understand basic financial statements. Financials help you keep a watchful eye on the financial strength and performance of your organization.

What Are Clean Financials and How Can You Get Them?

AccountingDepartment

We often hear prospective clients come to us explaining they are in need of clean financials. outsourced accounting services small business bookkeeping financial management financial accounting financial statements accounting analysis clean financials

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Fraud Considerations When Making Business Acquisitions

RogerRossmeisl

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.

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Why Should a Company Make the Jump to Outsourced Accounting?

AccountingDepartment

After a while, the business may add things like bookkeeping, collections, and financial statements out of necessity. In many companies, accounting comes as an afterthought. The main goal initially is to turn an idea into a profitable product.

How to Work with a Forensic Accountant

RogerRossmeisl

They’re uniquely qualified to review financial statements and business records and to interview employees to find evidence of misrepresentations and theft. Forensic accountants are professionals who have received specialized training to uncover fraud and protect against fraud threats.

Monthly Financial Review Checklist for CEOs

AccountingDepartment

Financial statements give insight into the health of all areas of the company as well as how it's achieving its goals. One of a CEO's most important tasks is staying on top of the company's numbers. This isn't just something for accountants.

QuickBooks Online Accountant’s “Your Books” Getting an Upgrade

SchoolofBookkeeping

The post QuickBooks Online Accountant’s “Your Books” Getting an Upgrade appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

Flash Reports: Real-Time Financial Reporting

Marlogin,Winer&Evens

Timely financial reporting is key to making informed business decisions. Unfortunately, it typically takes several weeks to prepare financial statements under U.S. And many companies only produce GAAP financials at the end of the quarter or year.…

Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?

SMBAccountant

One of the most common errors made by executives in a small startup is assuming that the reporting basis for accurate financial statements can be changed by clicking the single button at the top of the QuickBooks report.

Things to Consider when you convert from QuickBooks Online to QuickBooks Desktop

SchoolofBookkeeping

The post Things to Consider when you convert from QuickBooks Online to QuickBooks Desktop appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

Analyzing Business Tax Returns in Divorce Cases

FraudFiles

Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets. Consider evaluating not only annual financial statements, but also quarterly or monthly statements.

Exciting Clients… with Review Meetings!

PANALITIX

Accountants interpret financials to advise clients, sometimes through ‘quarterly [or monthly] review’ meetings. For ideas on making your financial review (advisory) services more attractive, read on. RESOURCES / ARTICLES. Exciting Clients…. with Review Meetings!

Controls are Ineffective When Managers Go Rogue

RogerRossmeisl

if a senior manager intentionally ignores the rules to manipulate financial statements. Warning signs Management overrides of financial controls can be difficult to detect. Management overrides of internal controls can make your company more vulnerable to fraud.

Small Business Road to Financial Recovery from the Impacts of COVID-19

SchoolofBookkeeping

The post Small Business Road to Financial Recovery from the Impacts of COVID-19 appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

Voiding Checks in a Prior Period

SchoolofBookkeeping

The post Voiding Checks in a Prior Period appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

QuickBooks Adds E-signature Capabilities

SchoolofBookkeeping

The post QuickBooks Adds E-signature Capabilities appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

How Contribution Margin Helps You Do More Than Just Break-Even

GrowthForceBlog

Contribution Margin is not a number you see on a traditional financial statement- it's a management accounting calculation. Accounting & Bookkeeping Services Cash Flow Management Financial Intelligence, Reporting & KPIs

How an Accounting Firm Can Help a New Small Business

PASBA

After selecting whether to operate as a sole proprietor, partnership, or limited liability company, the new small business owner will also need assistance with the following: Reviewing the business plan and offering input on financial analysis. For example, a client might struggle to understand the various financial statement his or her business needs. Of course, small business owners don’t only need help when it’s time to issue tax statements.

How to Know if Your Website Legally Compliant?

SchoolofBookkeeping

appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more. It is essential for business owners to know the legal requirements for your website.

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Can I Have More Than One QuickBooks Online Company on the Same Login?

SchoolofBookkeeping

appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more. The short answer is yes, you can have as many companies tied to the same login as you want.

How to Quote a QuickBooks Data File Cleanup

SchoolofBookkeeping

The post How to Quote a QuickBooks Data File Cleanup appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more. The secret to QuickBooks is a good setup.

Changing the Default Bank Account in QuickBooks Desktop

SchoolofBookkeeping

The post Changing the Default Bank Account in QuickBooks Desktop appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

How to Quote a QuickBooks Data File Clean Up

SchoolofBookkeeping

When they need to prepare financial reports for any reason, they suddenly realize it’s. The post How to Quote a QuickBooks Data File Clean Up appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

Verifying Income in Family Law Cases

FraudFiles

These may include tax returns and related forms, but can also include things like financial statements, loan applications, or evidence of spending. Family Law Attorney Miles Mason discusses the kinds of documents that may be used to verify income in divorce and child support cases.

Common Accounting Mistakes: Government Edition - Issue #1: Am I Accrual or Cash Basis?

SMBAccountant

One of the most common errors made by executives in a small startup is assuming that the reporting basis for accurate financial statements can be changed by clicking the single button at the top of the QuickBooks report.

Upcoming Accounting Talk at Groundswell Startups

SMBAccountant

Learn how to set up a chart of accounts, the importance of supporting documentation and the basics of creating financial statements. An Intro to Bookkeeping: Getting it right the first time Things like bookkeeping often falls to the wayside as founders focus on getting their product off of the ground, but bad bookkeeping process can cost a business in the long-term. Join us October 16, as Shannon Bloom gives a few of the basics of bookkeeping.

Upcoming Accounting Talk at Groundswell Startups

SMBAccountant

Learn how to set up a chart of accounts, the importance of supporting documentation and the basics of creating financial statements. An Intro to Bookkeeping: Getting it right the first time Things like bookkeeping often falls to the wayside as founders focus on getting their product off of the ground, but bad bookkeeping process can cost a business in the long-term. Join us October 16, as Shannon Bloom gives a few of the basics of bookkeeping.

Inventory management is especially important this year

Marlogin,Winer&Evens

As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking back on the entire year’s financials.

What To Do If Your Clients Don’t Pay You?

SchoolofBookkeeping

appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more. Nothing is more frustrating than working diligently on a project and then sending your client an invoice only to wait and wait and wait. The fact is that getting paid is difficult sometimes. Some clients feel no sense of urgency. Read More. The post What To Do If Your Clients Don’t Pay You?

Calculating Spousal Support in Divorce Cases

FraudFiles

Financial statements. Bank, credit card, and investment account statements. Many other documents may be needed to do a complete financial analysis, and a lengthy list of possible documents is found here. Each state has its own guidelines for calculating spousal support.

Top Ways to Detect Fraud in Companies

FraudFiles

Next, management review of financial statements and account balances and reconciliations is a very effective technique. Tracy Coenen talks to a group of CPAs about the top ways fraud is detected within companies.

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Finding and Preventing Corporate Fraud

FraudFiles

Fraud experts usually talk about occupational fraud in three general categories: asset misappropriation, corruption, and financial-statement fraud. Even though corruption and financial-statement frauds are not as common, the costs to the victims are much greater per fraud scheme.