Attending inventory counts

Part of any audit is attendance at the client’s inventory count. If the company being audited has material inventory in multiple locations, you’ll have to observe each count. I’ve been busy lately with inventory counts. Yesterday I went to one and counted washing machines and dryers. This morning I was counting packages of cottage cheese,Continue reading “Attending inventory counts”

Incorporate or not: It’s the investment

A small business usually starts out as a sole proprietorship, owned and operated by the founder personally and reporting business income on their annual personal tax return. But as the business grows, the question of incorporation will always arise, and there are several factors to consider when this happens. The most important single factor, inContinue reading “Incorporate or not: It’s the investment”

Global ethics and international accounting standards

The Publish What You Pay campaign is where international politics, financial reporting, and the developing world intersect. The campaign seeks to force companies in extractive industries (such as oil and gas) to make public their payments to governments in the developing world. It began in 1999 with an “exposé of the apparent complicity of theContinue reading “Global ethics and international accounting standards”