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Accounting

Accounting standards provide guidance for the creation of financial statements. 

Accounting standards come from the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). Both bodies create drafts of standards that are subject to public review and feedback. Once approved, they become a part of the respective codifications. 

Accounting standards constantly evolve. They are developed to meet the needs of those who read financial statements. The standards provide guidance about financial statements such as a balance sheets and disclosures, sometimes called notes to the financial statements. 

accounting and auditing
Accounting Auditing

Understand U.S. Accounting and Auditing Standards Now

What accounting and auditing standards do accountants follow in the United States? And who issues them? Understanding these standards…

Read More Understand U.S. Accounting and Auditing Standards NowContinue

GASB 100
Accounting GASB Local Governments

How to Address Accounting Changes and Errors with GASB 100

Does your government ever have accounting changes or error corrections? If yes, know that GASB 100, Accounting Changes and…

Read More How to Address Accounting Changes and Errors with GASB 100Continue

reconcile balance sheet accounts
Accounting

A Powerful Control: Reconciling Balance Sheet Accounts Before Close

In this article, I explain why you need to reconcile balance sheet accounts before closing your books.  Reconcile Balance…

Read More A Powerful Control: Reconciling Balance Sheet Accounts Before CloseContinue

special purpose frameworks
Accounting

How to Understand Special Purpose Accounting Frameworks: Three Videos

In this post, I provide three videos explaining these bases of accounting: (1) cash basis, (2) modified cash basis,…

Read More How to Understand Special Purpose Accounting Frameworks: Three VideosContinue

deferred inflow and deferred outflow
Accounting Local Governments

Understand Deferred Outflows and Deferred Inflows in Governments (with Video)

GASB 63 and 65 provide guidance regarding deferred outflows and inflows in governments. This article provides an overview of…

Read More Understand Deferred Outflows and Deferred Inflows in Governments (with Video)Continue

compensated absences
GASB

Compensated Absences Simplified: Navigating GASB 101 Requirements

GASB issued Statement No. 101, Compensated Absences, and updated the recognition and measurement guidance for compensated absences to better…

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Nonprofit financial statements
Accounting

How to Understand Nonprofit Financial Statements: A Video Overview

Nonprofit financial statements are unique and can be confusing to understand. The Financial Accounting Standards Board (FASB) provides the…

Read More How to Understand Nonprofit Financial Statements: A Video OverviewContinue

Journal entries
Accounting

Journal Entries Made Easy: New Bookkeeping Book on Amazon

Journal Entries Made Easy, an Introduction to Accounting is my new book available on Amazon. Are you an accounting…

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accounting journal entries
Accounting

Eight Types of Accounting Journal Entries

In this article, I provide eight different types of accounting journal entries. Understanding journal entries is critical to understanding…

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Charles Hall

Charles Hall

I am a practicing CPA. I have primarily audited governments, nonprofits, and small businesses for the last forty years.

My sweet spot is governmental and nonprofit fraud prevention. I am the author of (1) Journal Entries Made Easy,  (2) The Little Book of Local Government Fraud Prevention, (3) Preparation of Financial Statements & Compilation Engagements, (4) The Why and How of Auditing, and (5) Audit Risk Assessment Made Easy. I frequently speak at continuing education events.

I consult with CPA firms, assisting them with auditing and accounting issues. Contact Charles

More About Me
  • Books
  • Media
  • Topics
Book: Journal Entries Made Easy, an Introduction to Accounting
Book: The Little Book of Local Government Fraud Prevention
Book: Preparation of Financial Statements & Compilation Engagements
Book: Audit Risk Assessment Made Easy: Seeing What Others Miss
Book: The Why And How Of Auditing: Auditing Made Easy
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