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A Complete Guide to Reading Financial Statements

xendoo

With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how to express the success of your growing business. We’ll help you learn to read and interpret your financial statements and show you how they impact your company.

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Judgment of Management and Financial Statement Fraud

FraudFiles

With thousands of detailed accounting rules, how can there be financial statement fraud? There are areas of the financial statements that rely heavily on the judgment of management. Many accounting entries … Financial Investigations Videos

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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.

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Financial Statement Fraud: Overstatement of Revenue

FraudFiles

By far the most common way that executives manipulate financial statements is through the overstatement of revenue. The reason is simple: It’s the easiest way to improve the appearance of the company’s financial condition.

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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.

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New! Crossword and word search puzzles to review financial statement analysis

Wendy Tietz

Below are links to a crossword puzzle to review financial statement analysis concepts in financial accounting – and links to a word search puzzle to review the same concepts. I figured many of us are heading into the financial statement analysis chapter right now, so I thought I would share these puzzles I created for […].

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A financial statement analysis mini-dashboard for a quick data analytics exercise

Wendy Tietz

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions.

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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.

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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.

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Three Financial Statements Skagit County SMBs Need To Get Right

SkagitCountyTaxServices

Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials… Successfully pulling it off is impressive – really. We’d be happy to sit down with you, take a look at those financial statements and see how we can get your business on steadier ground.

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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.

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Back to Basics With Balance Sheet Reconciliations

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid.

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GASB sets guidelines on notes to financial statements

Accounting Today

Accounting Government accounting Accounting standards

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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 Damage Inflicted by Financial Statement Fraud

FraudFiles

Financial statement fraud impacts any person or organization that has a financial interest in the success or failure of a company. The manipulation of financial statements also affects employees. Financial Investigations

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Financial Statement Myths and George Washington

Withum

They are on Financial Statement Myths and the Finances of George Washington. My webinar “season” is coming to a brief ending on Thursday with two programs I think anyone would enjoy.

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Four Important Financial Statements for Your Business

Basis 365

You spend a lot of time analyzing financial statements as a manager or owner of a business. Of course, each statement is essential, but not all statements are equally important. Let's look at four of the most important financial statements for every business.

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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.

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How to Make Business Financial Statements: Everything to Know

Accounting Seed

Financial statements exist to give business owners answers to these questions. That’s why accurate financial statements are essential to business success. What is a Business Financial Statement? There are four main types of financial statements.

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What’s the Big Deal About Financial Statement Fraud

FraudFiles

The manipulation of a company’s financial statements does not occur as often as asset misappropriation schemes like payroll fraud, check kiting, or inventory theft. And the losses from financial statement fraud aren’t readily apparent to most people. Financial statement fraud schemes are much more costly than other types of fraud. Some may wonder what the losses in a financial statement fraud could be. Financial Investigations

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Finding Fraud With Analytical Review of Financial Statements

FraudFiles

Performing analytical review on the financial statements of a company is an important part in the fraud detection process. Financial statement line items compared to one another. Numeric data compared to the notes to the financial statements.

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Why are pension disclosures in government financial statements up to 30 months old?

Accounting Today

GASB Pensions Accounting Government accounting Accounting standards

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How Will A Debt Modification Affect Your Financial Statement?

Withum

Articles

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Types Of Small Business Financing You Need To Know About

xendoo

In this blog post, we will help you navigate the different types of financial assistance options to give you more insight into what could be a good fit for you. In addition to securing the proper financing, it’s important to make sure that you’re keeping your financial history up to date.

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The Accounting Cycle: Everything You Need to Know

Accounting Department

It creates an accurate record of the business's financials that are summarized on its financial statements. Accounting Technology outsourced accounting services technology financial statements accounting processes financial technology netsuite financial reporting

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Highlights from the Latest ACFE Fraud Report

RogerRossmeisl

Preventing, detecting, and investigating occupational fraud requires a deep understanding of the types of schemes, potential financial losses, emerging threats and risk mitigation strategies.

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What information can be calculated from Krispy Kreme’s trial balance?

Wendy Tietz

Krispy Kreme operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. Krispy Kreme, Inc.

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

Withum

Articles

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Streamlining The Monthly Close With a Few Easy Steps

AccountingDepartment

Small Business Advice and Tips accounting tips financial statements business planning business strategy reporting financial reporting business tips client accounting services casThe month-end is coming up and that means it is time to close.

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Why Is Up-To-Date Bookkeeping So Important?

AccountingDepartment

Small Business Advice and Tips virtual bookkeeper bookkeeping services financial statements outsourced bookkeeping services accounting trends business tips outsourced bookkeepingUpdated and accurate bookkeeping is the backbone to keeping a business running smoothly.

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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.

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Forecasting Revenue the Right Way

AccountingDepartment

It allows for a clear idea of a company's financial standing, helps identify potential risks, and set owners and management up to make adjustments to the business plan throughout the year.

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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.

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New! Beginning Data Cleaning (ETL) & Analytics Project for Excel: KAT Concession Supply

Wendy Tietz

Ch 01 Financial statements Ch 01 Introduction Ch 05 Receivables and revenues Data analytics Financial accounting Managerial accounting Miscellaneous financial accounting managerial accounting; teaching accounting

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New! Crossword puzzle to review the accounting cycle

Wendy Tietz

Ch 01 Financial statements Ch 02 Transaction analysis Ch 03 Accrual income Crossword puzzle Financial accounting accounting cycle basic accounting crossword financial accounting puzzle teach accountingRecently, I surveyed my students and found that most enjoy crossword puzzles. While not every activity will suit every student, I thought it would be a good idea to create some crossword puzzles for review activities.

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How Did Crowe, Moss Adams, and Marcum Do In Their Respective 2020 PCAOB Inspection Reports?

Going Concern

Of the four wayward audits in Crowe’s 2020 inspection report, three had deficiencies in both financial statement audits and the audit of internal control over financial reporting. It was financial statement audits that were a nightmare, as the firm blew nearly every one of them.

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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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For Government Agencies: 3 Tips for Consolidating Financial Report Footnotes

LSLCPAs

A number of new debt and lease standards have been added to government agencies’ financial reporting requirements. For this post, we are zeroing in on the condition that government agencies are being required to add additional footnotes to their financial statements.

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Navigating the Risks of Slow Consolidated Financials

Intuitive Accountant

Reach Reporting's Justin Hatch explains why the timing of consolidated financial statements is important for all aspects of the business

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Taking a Red Pen to Financials for Valuation Purposes

RogerRossmeisl

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.

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Work Programs in Fraud Investigations

FraudFiles

If you’re familiar with the process of a financial statement audit, you know all about audit work programs. They’re basically the checklists and guides that auditors use to make sure they follow all the required steps for auditing the financial statements.

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What is a retained earnings statement?

Patriot Software

Creating financial statements paints a picture of your company’s financial health. Financial statements help with decision making and your ability to get outside financing. One statement you could create is the retained earnings statement.

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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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