Updated rules have been approved that will require more detailed disclosures on income taxes to help stakeholders better understand your company’s tax position. Here’s what you should know. Continue Reading FASB approves updated rules for disclosing income taxes

Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Here’s an overview of the accounting rules for uncertain tax positions under U.S. GAAP. Continue Reading Reporting UTPs on your financial statements

Are you fed up with all the recent accounting rule changes? For many private companies, the new lease standard that went into effect in 2022 was the last straw. Here’s an alternative reporting framework to consider. Continue Reading Why some small businesses are switching to tax-basis reporting

What types of information and procedures do auditors use to verify account balances and transactions? Anticipating document requests and inquiries can help make your next audit more efficient. Continue Reading Close-up on sources of substantive audit evidence

Nonprofits that embrace accountability can generally expect improved collaboration and better outcomes. How can your organization put this abstract concept into practice? Continue Reading Putting accountability into practice