Conducting Risk Assessments

Your auditor conducts an updated risk assessment every year when preparing financial statements. Learn how CPAs factor risk assessments into their audit procedures. 3-Prong Assessment Audit risk is a combination of three components: Control risk.

That Time of the Year to Review your Business’s Expenses

It's getting to be that time of the year to review your business's expenses for deductibility. The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many business

Audit Process of Royalty Agreements

Who’s monitoring your licenses? Whether due to error or fraud, underpayments may happen when your company licenses intellectual property to others. An external audit can ensure accurate royalty payments. The agreement The parties’ attorneys usually

Could these 2 Law Changes have an Impact on your Business’s 401(k) Plan?

Confused about how the new tax law changes may affect you?  If your business sponsors a 401(k) plan for its employees, it’s crucial to keep up with tax developments in case it affects your plans

Financial Reporting Goals for For-Profit vs. Not-For-Profit

As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are generally motivated by a charitable purpose. Here’s how their respective

Pricing Strategy for Products: Economy, Skimming, Penetration, and Premium

Pricing your product or service appropriately to make a profit in the face of competition is challenging. One way to mitigate that challenge is to utilize pricing strategy for your products or services. Companies have

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