When analyzing financial statements, you may need to assess whether they are wrong. You may need to assess whether they indicate undisclosed problems, as well. Some comfort may be gained by the situation, and perhaps some corroborative information, such as: Does the company use an outside CPA, and if so, what services does the CPA provide? [...]
It is important to understand that profit reported on a company's income statement does not equate to cash flow. Understanding a company’s cash –cycle can be vital to truly understanding and assessing how the company is doing overall. The cash cycle is an important component to understand when assessing a company’s operations and for understanding [...]
Filing Status If you are divorced by December 31st, you will need to file your federal return as a single taxpayer; or, if you qualify, as head of household. Division of Assets Consider the tax impact of your assets. For instance, the spouse who keeps the house will be able to deduct the interest expense [...]
While speaking at a recent accounting conference on forensic accounting, a participant asked about “best practice” suggestions pertaining to technology safety. Clearly this is a very broad and ever-changing topic. This article is an attempt to capture some suggestions and to raise awareness, as most of us need to maintain at least a minimum level [...]