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Are Your Compliance Processes Keeping Up with Evolving Audit Requirements?

Mon, May 13, 2024 @ 08:38 AM / by David Fellers posted in revrec, CEO perspective, Thought Leadership, Accounting Advisory Services, SAP GROW

Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews.

For any public company, the goal of successfully complying with periodic financial reviews by external auditors cannot be overstated. While passing each audit is a critically important milestone, companies also should understand that it is only one aspect of ensuring their financial transparency and integrity. 

This post provides a deeper look into the organizations that are overseeing your auditors and provides key insights into how your financial, compliance and reporting processes need to be robust enough to satisfy these "audit the auditors" reviews. 

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Hot-Tip: Accounting Standards Update to ASC 842

Sun, Aug 13, 2023 @ 09:41 AM / by Accounting Advisory Team posted in FinancialTransformation-Hot-Tips, Leasing-Hot-Tips, ASC 842, Hot Tips, Accounting Advisory Services

FASB has issued an update regarding ASC 842 through its Post-Implementation Review (PIR) process that is intended to respond to the concerns expressed by private company stakeholders about applying Topic 842 to related party arrangements between entities under common control.

Specific issues addressed in the PIR are:

  1. Which terms and conditions should be considered when determining whether a lease exists and, if so, the classification and accounting for the lease.
  2. The accounting for leasehold improvements associated with leases between entities under common control.
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Hot-Tip: Advisory Accounting update on Standalone Selling Price (SSP)

Sun, Aug 9, 2020 @ 06:45 AM / by Accounting Advisory Team posted in RevRec hot-news, Accounting Advisory Services, Standalone Selling Price

Although some companies think that Revenue Recognition compliance issues are behind them, it's important to remember that the changes mandated by ASC 606 and IFRS 15 are on-going.  In particular, the Five-Step Model and concepts such as Standalone Selling Price need to be applied to new product or service offerings today and into the future.

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Podcast- Accounting Advisory Services: What they are, How they can help, and When you need them.

Tue, Jun 2, 2020 @ 05:43 AM / by Bramasol posted in SAP, podcasts, Accounting Advisory Services, technical accounting

The growing complexity of financial reporting and rapid changes have led to a substantial increase in demand for expert accounting advisory services. The financial reporting challenge is driven by developments in the financial reporting environment, with extensive modifications across many areas, and further waves of change predicted in the coming years.

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Accounting Advisory Services are Key to Finance Transformation Success

Wed, Apr 29, 2020 @ 01:43 PM / by David Fellers posted in CEO perspective, Accounting Advisory Services

Most companies are constantly looking for new ways to upgrade their finance, treasury, and compliance activities as an on-going commitment to improving productivity, reducing risk, and optimizing overall business agility.

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