Monthly Archives: November 2011

Staying on Top of the GAAP to IFRS Conversion

International Financial Reporting Standards (IFRS) have been at the forefront of discourse for the past several years, as the SEC continues to bat around the notion of converting U.S. practices over from Generally Accepted Accounting Principles (GAAP). The conversion has … Continue reading

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Operational Analysis: Aligning Overall Performance with Strategic Planning

Operational analysis is conducted in order to understand and develop operational processes that contribute to overall performance and the furthering of company strategy. Ideally, a thorough operational analysis should seek to examine a number of functional areas including strategic planning, … Continue reading

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Navigating Stormy Seas

Whether or not our country is sliding into a double-dip recession, we are almost certainly facing a protracted period of sluggish economic growth. Many prominent economists foresee stubborn high unemployment, disappointing GDP growth of between 1% and 2%, and weak … Continue reading

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Protect Your Company Through Internal Controls

The most important tool in the effort to improve efficiency, prevent fraud, and protect company reputation is an appropriately structured accounting department. In particular, a system of internal control, also known as operational control, is imperative to the prevention of … Continue reading

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The Byzantine U.S. Tax Code

Take a look at these quotes from press releases and statements made by members of Congress concerning the U.S. tax code (www.house.gov): “The Internal Revenue Code and regulations add up to one million words…nearly seven times the length of the … Continue reading

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Financial Restatements: Potential Causes and Severe Ramifications

Though the number of financial restatements has decreased somewhat since 2007, the overall number has risen dramatically over the past decade. Passage of the Sarbanes-Oxley Act in 2002 significantly increased the severity of rules and regulations related to corporate governance … Continue reading

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Internal Audits and Effective Risk Management Assessment

While external audits focus on assessing those operations that play a direct part in the company’s financial status and wealth, internal audits consider other areas that are important to a company’s reputation, growth and overall well-being. This CFO Edge article… … Continue reading

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