Financing activity in a cash flow statement focuses on how a firm raises capital and pays it back to investors through capital markets. This section of the cash flow statement measures the flow of cash between a firm and its owners and creditors. Analyzing the cash flow statement is extremely valuable because it provides a […]

The conclusion of any audit engagement is of utmost importance as it determines the overall effectiveness and reliability of the assurance services provided. In this blog post, we have discussed the crucial role of audit risk in assurance services and how it impacts the audit process. Audit risk refers to the risk that the auditor […]

What I would do is create a journal entry, crediting the loan account for $50,000, debiting our bank account for $46,000, and debiting $4,000 to a “pre-paid loan expense” asset account. In other words, the loan fees are allocated to different accounting periods with the help of an effective rate of interest. The amortization of […]

Please note that not all of the investments and services mentioned are available in every state. Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Investment Management Solutions (IMS) Platform fee-based asset management accounts offered through Avantax Advisory ServicesSM. All other financial planning services are offered through The Wealth Center at Meaden & Moore. The […]

Accrued revenue adjustments involve recognizing revenue that has been earned but not yet received, ensuring that the revenue is reported in the period it was earned. Cash to accrual adjustment explained for better financial reporting and compliance, enhancing accuracy. Regular financial analysis is another important best practice for long-term success. This includes analyzing key financial […]