Operating vs Finance Lease ASC 842 — The Classification Tests Explained
Operating vs finance lease ASC 842 classification determines how a lessee presents lease expense, right-of-use assets, liabilities, and cash flows. […]
Variable Consideration ASC 606 — How to Estimate and Constrain It
Variable consideration ASC 606 affects revenue whenever the amount a company expects to receive can change. Performance bonuses, volume rebates,
Principal Agent ASC 606 Revenue — Why the Determination Changes Your Revenue Line
Introduction The principal agent determination under ASC 606 is one of the most consequential judgments in US GAAP revenue accounting.
ASC 606 Revenue Recognition 5 Step Model — Applying It to Complex Arrangements
Introduction The ASC 606 revenue recognition 5 step model is the foundation of revenue accounting for every US company preparing
Multi Currency Bookkeeping US GAAP — Handling Foreign Transactions Correctly
Published by: Parisa Global Advisory LLCCategory: Bookkeeping & Monthly CloseReading Time: 8–10 minutesTarget Audience: US Business Owners, CFOs, Controllers, Finance
Intercompany Reconciliation Multi-Entity Groups — A Step-by-Step Guide
Introduction Intercompany reconciliation for multi-entity groups is one of the most complex and most consequential processes in any consolidated finance
Accounts Receivable Payable Reconciliation — Why It Matters Beyond Cash Flow
Introduction Accounts receivable and payable reconciliation is one of the most important controls in any US finance function. Furthermore, most
Bank Reconciliation Best Practices for Growing US Companies
Introduction Bank reconciliation best practices are among the most fundamental disciplines in any US finance function. Furthermore, they are among
Bookkeeping
Accruals Prepayments Accounting — Getting Them Right Every Period
Introduction Accruals and prepayments accounting sits at the heart of every US GAAP month end close. Furthermore, getting both right
Cutoff Errors Month End Close — Causes, Costs, and How to Fix Them
Introduction Cutoff errors in the month end close are among the most common — and most costly — bookkeeping mistakes