Introduction Internal controls are financial and operational safeguards that businesses use to prevent fraud, reduce errors, and ensure compliance with tax and regulatory requirements. Strong internal controls help companies...
Introduction A financial audit is an in-depth review of a company’s financial statements, transactions, and records to ensure accuracy and compliance with IRS regulations, accounting standards, and industry best...
Introduction Businesses must choose between cash basis accounting and accrual accounting for financial reporting. The IRS allows small businesses with annual revenue under $27 million (as of 2025) to...
Introduction A balance sheet is one of the three main financial statements that provide a snapshot of a company’s financial position at a given point in time. It outlines...
Introduction EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a key financial metric used to evaluate a company’s profitability and cash flow. It helps investors, lenders, and business...
Introduction Year-end financial statements provide a summary of a company’s financial position and performance for the fiscal year. These reports are essential for tax filing, business valuation, investor reporting,...
In the complex sphere of accounting, where figures and data paint detailed pictures of businesses, individuals, and economies at large, the role of ethics stands paramount. For U.S. expatriates...