When tax season rolls around, neglected accounting tasks can haunt small business owners. It’s a pain to categorize income and expense transactions from memory or track discrepancies among hundreds of ...

In my updated checklist file, I included a “preparer’s work process and procedures checklist.” This started out as a checklist for beginners with step-by-step procedures to follow, but as I got into ...

An audit engagement is a critical exercise for stakeholders such as employees, owners, investors and lenders. For the sake of efficiency, auditors must focus on standard audit tasks; they can't focus ...

While there are many different ways to set a fee, the two major ways seem to be using a fixed or value price before the engagement starts and pricing based on time. I don’t want to get involved now ...

An understaffed accounting department caused big trouble for the city of Spokane, Washington. During an audit of the city’s 2014 taxes, several errors surfaced, including revenue miscalculation, an ...