When to Be Credit Wary


When a company asks for credit, be cautious if it

Has stopped obtaining audited financial statements and now prepares only reviews or unaudited or compiled statements.

Presents financial statements that show profits, but doesnt present a cash-flow statement.

Shows large amounts of due to or due from its owners in its business records. Thats a sign the owners are using the business as a personal bank or the business is borrowing from the owners because it cant get credit anywhere else.

Stanley Zarowin


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.