Brown Edwards’ Brad Bailey, Beth Llewellyn and Chris Banta in the firm’s Midlothian office. Photo by James Haskins Brown Edwards has been chosen as one of the top regional leaders in Accounting Today’s Top 100. The company now ranks No. 79 on the list, climbing 10 spots from their 2020 ranking. In addition to being […]
Biden signs PPP deadline extension into law
The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 on Tuesday when President Joe Biden signed the extension into law. The U.S. Senate had voted 92-7 on Thursday to approve the PPP Extension Act of 2021, H.R. 1799, sending the legislation to the president for his signature. There was […]
FASB provides goodwill triggering relief for private companies, not-for-profits
FASB issued a standard Tuesday that provides an alternative to goodwill impairment triggering event evaluations for private companies and not-for-profits. Under the alternative, private companies and not-for-profits will have the option to perform a goodwill triggering event assessment, and any resulting test for goodwill impairment, at the end of the reporting period, whether in an […]
The Skinny on General Ledger vs. Trial Balance
Running a business means juggling a variety of financial reports, like your company’s trial balance and general ledger. With so many reports to look through, you may be asking yourself, What do these reports mean, and how do I use them? Take a look at the difference between general ledger vs. trial balance and how […]
PCAOB establishes new advisory group for standard setting
The PCAOB approved the formation of a new advisory group Monday that will provide the board with insight for its standard-setting activities. In unanimously approving the charter of the Standards Advisory Group, the PCAOB created an 18-person expert body. The seats on the advisory group will be filled by investors (five), audit professionals (four), audit […]
Signs Your Accounting System is Holding You Back
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NOCLAR: Proposals aim to help CPAs find the right balance
Identification or suspicion of a client’s or employer’s noncompliance with laws or regulations (NOCLAR) is one of the most challenging ethical issues a CPA can face, and complementary proposals issued by two AICPA committees are designed to provide clarity for these circumstances. The AICPA Professional Ethics Executive Committee (PEEC) and the AICPA Auditing Standards Board […]
Why Accounting Skills Are Indispensable for Entrepreneurs
Get a better grasp on your company’s finances and help master the financial side of your business. Free Book Preview Money-Smart Solopreneur This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success. March 25, 2021 5 min read Opinions expressed by Entrepreneur contributors are their own. Entrepreneurs need […]
Deadline for certain single audits delayed because of pandemic
The due date for certain single audits to be submitted to the Federal Audit Clearinghouse has been delayed six months as a result of challenges related to the coronavirus pandemic. The Office of Management and Budget (OMB) announced the extension in a memorandum for the heads of executive departments and agencies issued this week. The […]
5 Budget Challenges and How to Tackle Them
As a business owner, there are two important things you want to keep—time and money. That’s why you need to create a budget and stick to it. But, budget challenges are common and can pop up throughout the year. Familiarize yourself with budget challenges so you can tackle them before they get too far out of […]