ContentAccounting 101 for Small BusinessesWhat Is a Balance Sheet?Example of Balance Sheet FormulasShareholder EquityVideo: What Is a Balance Sheet?Importance of Balance Sheets Each category consists of several smaller accounts that break down the specifics of a company's finances. These accounts vary widely by industry, and the same terms can have different implications depending on the [...]

In May, the AICPA Auditing Standards Board approved new quality management standards. CPA firms will need to shift their audit and quality assurance practices from a policies-based approach to a risk-based approach. With this impending change, financial institutions should revisit how they evaluate financial statement risks based on their source. You know you’re using the [...]