Tag Archives: gaap

When & How to Deduct Business Bad Debts

This week’s article is by Arthur F. Rothberg, Managing Director, CFO Edge, LLC. When diligence in performing credit checks and attempting to collect receivables do not achieve results, it is important to know when and how to deduct business bad … Continue reading

Posted in Accounts Receivable, AR & AP Management, CFO Services, Financial Strategy, Los Angeles, Tax Strategy | Tagged , , , , , , , , , , , , , | Leave a comment

When Do You Need to Obtain an Audit?

This week’s article is by Mark S. Becker, Partner, CFO Edge, LLC. Small and medium-sized businesses frequently don’t have audits of their financial statements done unless potential investors or lenders require them. But as needs evolve and opportunities arise – … Continue reading

Posted in Audit Preparation, CFO Services, Financial Strategy, Generally Accepted Accounting Principles (GAAP), Los Angeles | Tagged , , , , , , , , , , , , | Leave a comment

When & How to Conduct a Business Valuation

This week’s article is by Mark S. Becker, Partner, CFO Edge, LLC. The valuation of a closely-held business becomes a priority in a number of situations: selling, exiting or creating an ESOP, just to name a few. When undertaking a valuation, … Continue reading

Posted in Business Valuation, Buying a Business, CFO Services, Due Diligence, Los Angeles, Merger & Acquisition Planning, Selling a Business, Succession Planning | Tagged , , , , , , , , , , , , , , , | Leave a comment

Start Preparing Now for New Revenue Recognition Standard

This week’s post and linked full PDF are by Howard Goldman, Partner, CFO Edge, LLC. While the effective dates have been delayed for the new FASB/IASB revenue recognition standard replacing industry-specific GAAP rules, Los Angeles and Southern California executives face … Continue reading

Posted in Accounting Systems Design, CFO Services, Corporate Governance, Financial Infrastructure, Financial Reporting, Financial Statements, Generally Accepted Accounting Principles (GAAP), Los Angeles, Revenue Recognition | Tagged , , , , , , , , , | Leave a comment

What’s the Difference Between Financial Accounting & Forensic Accounting?

This week’s post and linked full article are by Sherry Rahbar, Partner, CFO Edge, LLC. With the frequency and sophistication of financial fraud growing among a number of businesses in greater Los Angeles and Southern California, it is helpful to … Continue reading

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Generally Accepted Accounting Principles: The Big GAAP vs. Little GAAP Debate

Generally Accepted Accounting Principles, or GAAP, is considered to be the standard for financial accounting in the U.S. GAAP is used to guide accountants through the business of recording, summarizing, and preparing financial statements. This CFO Edge article… Generally Accepted … Continue reading

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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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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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Managing Foreign Operations and Currency Translation

When a multinational corporation based in the United States owns over 50 percent of a foreign entity, the American parent company is typically required to provide consolidated financial statements. This can be a complex process, and this CFO Edge article… … Continue reading

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Planned Re-Exposure of Revised Revenue Recognition Standard

Along with after-tax profits and EBITDA, revenue is among the most critical measures of a company’s health and growth potential. Therefore, when changes take place in rules governing accounting for revenue, it is a highly significant event.  This CFO Edge … Continue reading

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