Category : Financial statement audits, reviews and compilations

Top 7 things every business owner should know about financial statement audits

Posted on: Jul 30, 2017

Audited financial statements are reports that are attested by Certified Public Accountants and they provide credibility to both internal and external stakeholders.

Why do we need financial statement audits ?

The follow...

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Financial statement preparation, compilations, reviews and audits- which is right for your business?

Posted on: Feb 3, 2018

Financial statement preparation, compilations, reviews and audits- which is right for your business?

There are many factors that determine the type of CPA certified financial report that may be required for your business.  Following are the major reasons why you ...

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Timelines for adopting the new Revenue Recognition Standard ASC 606

Posted on: Mar 4, 2018

ASC 606 is the new revenue recognition standard that takes effect for most public listed companies in the United States effective January 2018. 

Below list has some important information relating to when both public and non-public listed companies will need to adopt the new Revenue Recogn...

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Basic principles of the new revenue recognition standard

Posted on: Mar 11, 2018

What is revenue recognition?

Revenue is one of the most important measures of financial performance in a business. Currently, US GAAP has complex, detailed revenue recognition requirements for specific industries and accounting transactions.  As a result, various industr...

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