Private companies will now have an alternative method for amortizing goodwill over a period of 10 years or less as a result of a recently issued Accounting Standards Update (ASU)…
Preparing for Year-End Physical Inventory Audit
The execution of your year-end physical inventory count represents the culmination of efforts from various internal departments and your external auditor. Internal personnel must coordinate activities to ensure the counts…
Purchase Card Best Practices for Governments
Many governmental agencies are still writing significant numbers of checks without having sound controls in place. Purchase cards (P-Cards) could be a cost effective way for certain organizations to improve…
Quicker Project Closeout Timeframes for A/E
The Federal Highway Administration (FHWA) is pushing for quicker project closeout timeframes. In 2012, the USDOT received a material weakness for lack of attention to project closeouts and for lack…
Proposals Aimed at Accounting Reducing Costs and Complexities
The Financial Accounting Standards Board (FASB) issued three proposals for public comment that offer alternatives to the U.S. GAAP for private companies, intended to reduce the cost and complexity of…
