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…
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…
Understand the Audit Differences for Supplementary Information, Other Information, and Required Supplementary Information
What are the differences in supplementary information, additional information, and required supplementary information? Does the audit opinion change for…
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,…
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…
Understanding the Chart of Accounts: A Fundamental Guide
What is a chart of accounts? If you are new to accounting, you may not know. But you need…
Three Steps to Correct Cash Flow Statement Mistakes
Do you struggle with creating cash flow statements? Would you like to know how to correct cash flow statement…
Related Party Transactions: Fraud
Related party transactions can be a means to fraudulent financial reporting. Yet, auditors often don’t detect the financial statement…
How to Review Financial Statements
Most CPA firms create financial statements for their clients. This blog post tells you how to create and review…