CPAs reconsider the “going concern” assumption every time they audit financial statements. When the long-term viability of a borrower is doubtful, it may cause the CPA to issue a qualified audit opinion — or, worse, to withdraw from the job altogether.
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Topics: Accounting, Audit Opinion, Advisory, Commercial Lenders, FASB, Going Concern, Uncategorized
For years, small companies and their accountants have complained about the increasing complexity and costs of complying with Generally Accepted Accounting Principles (GAAP). So the Financial Accounting Standards Board (FASB) solicited feedback from private company lenders and other stakeholders about the usefulness of certain complex accounting rules.
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Topics: Accounting, Advisory, Commercial Lenders, GAAP, Goodwill, Uncategorized
The Purchasing Managers Index (PMI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, an Atlanta accounting and advisory firm, and is produced monthly by the Econometric Center at Kennesaw State University.
Georgia’s Purchasing Managers Index (PMI) — a reading of economic activity in the state’s manufacturing sector — fell by 3.9 points from 53.9 to 50.0 in January.
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Topics: Advisory, manufacturing, Uncategorized