Tag: GAAP
What Are Reconciling Items? Definition and Examples
May 4, 2022 by Michael Whitmire
As a business owner, reconciling your bank accounts, credit cards, and other balance sheet accounts periodically is essential. Reconciling allows you...
What Is Intercompany Accounting
April 11, 2022 by Michael Whitmire
When two or more companies or different legal entities share the same parent company, transactions between the subsidiaries and with...
Increasing Financial Velocity and Accuracy with FloQast, Oracle NetSuite, and Sikich
March 16, 2022 by John Siegel
Webinar: Increasing Financial Velocity and Accuracy with FloQast, Oracle NetSuite, and Sikich
Improving long-established processes is never a trivial undertaking. Or...
What Are ESG Reporting Standards in 2022? Exploring What’s Expected This Year and Beyond
March 9, 2022 by Michael Whitmire
What are ESG Reporting Standards in 2022?
ESG (environmental, social, and governance) reporting standards have changed in the last year alone,...
What are Temporary Accounts? An In-Depth Look
March 2, 2022 by Michael Whitmire
What Are Temporary Accounts?
Temporary accounts, also known as nominal accounts, are those where the balance goes to zero before starting...
How Does Brexit Affect Accounting Firms?
February 7, 2022 by John Siegel
The success or failure of any decision often depends, to some degree, on its economic impact. Brexit is no exception....
How Sage Intacct and FloQast Streamlined This Accounting Team’s Close and Helped Established Audit Readiness
January 12, 2022 by John Siegel
At FloQast, we pride ourselves on working with users in their preferred manner. Over the years, it’s become clear that...
What Is Double-Entry Bookkeeping? An In-Depth Look at One of the Pillars of Accounting
January 7, 2022 by Michael Whitmire
Double-entry bookkeeping – as the name implies – means that every business transaction is entered twice in the accounting records.
Wait,...
What Is a Trial Balance vs. Balance Sheet? An In-Depth Look
November 22, 2021 by Michael Whitmire
Every business – from the solo freelance graphic artist to the Fortune 500 global company – relies on the same...
How a Business’s Books Will Look Different Under the New Lease Accounting Standards
October 6, 2021 by Michael Whitmire
Non-public entities were given a temporary reprieve from the new lease accounting standards, but the Financial Accounting Standards Board’s extension...