Archive for the ‘Audit and Assurance Services’ Category

Deducting or Amortizing Start-up Costs and Organizational Costs

Starting a new business venture can be exciting. Whether you are forming your first company or expanding into a new […]

How will the new lease accounting standard affect your business?

For fiscal periods beginning after December 15, 2018, businesses will have to start reporting leases differently on their balance sheets. […]

Introducing New Legislative Auditor Statewide Agreed-Upon Procedures

On February 10, 2017, the Louisiana Legislative Auditor (LLA) initiated statewide agreed-upon procedures (AUPs) affecting local governments and quasi-public organizations, […]

New changes to the Federal Audit Clearinghouse data collection form


Company Layoffs May Lead to EBP “Partial Plan Terminations”

Business owners need to be aware that significant employee layoffs may lead to unintended partial plan terminations. In our region, […]

How FASB’s new lease standard affects oil and gas companies

The Financial Accounting Standards Board has made significant changes to the way assets and liabilities arising from leases must be reported.

Revenue recognition update presents challenges for contractors

Because the revenue recognition update is so broad in scope, it may mean significant changes for companies’ current revenue and financial reporting processes, especially in the construction sector.

Importance of the statement of cash flows

The statement of cash flows provides answers to the important question “Where did the money go?”

How to consider the potential impairment of long-lived assets during times of downturn

Current economic conditions for the energy sector may indicate that the carrying amount for a long-lived asset has become unrecoverable. In these circumstances, the asset becomes impaired.

Lease accounting update will affect balance sheets in all sectors

The update is significant for the financial reporting and compliance requirements it presents to businesses across all sectors.