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Business executives, particularly business owners, should understand the importance of generally accepted accounting principles (GAAP). While you don’t need to be an accounting expert, it is important to be able to determine whether GAAP is being applied properly.

Making Sense of Four Key Financial Statements Financial statements aren’t just for accountants. All business owners and executives should have a basic understanding of what information certain financial statements contain and why they are important to your business.As the Securities and Exchange Commission (SEC) states in its “Beginners’ Guide to Financial Statement” publication, “If you […]

Changes to lease accounting rules impact business financial statements and due diligence inquiries in sales and dispositions of businesses. The traditional financial statement would have finance leases and capital leases that users of financial statements would be able to interpret having some familiarity with the established concepts. What is now considered a lease? Now, under the […]