#accounting

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542 публикацииВижте всички етикети Обратно към всички публикации

10 май 2026 г.13 минути четене

ASC 842 Lease Accounting for Private Companies: Putting Operating Leases on the Balance Sheet Without the Headaches

ASC 842 requires private companies to record nearly every lease longer than 12 months as a right-of-use asset and lease liability. This guide covers the lease definition tests, operating versus finance classification, discount rate options including the risk-free rate election, the seven most common implementation pitfalls, and how the changes ripple through covenants, EBITDA, and audit work.

Mike Thrift

accountingfinancial-reportingbalance-sheet

10 май 2026 г.11 минути четене

PCAOB QC 1000 and AICPA SQMS No. 1: What Small CPA Firms Must Implement Before December 2026

Small CPA firms must implement PCAOB QC 1000 by December 15, 2026, alongside AICPA SQMS No. 1, already effective since December 2025. A practical guide to the eight components, four required roles, Form QC reporting, and a five-phase plan to reach compliance.

Mike Thrift

cpacompliancerisk-assessment

9 май 2026 г.12 минути четене

ASC 842 Lease Accounting for Private Companies: Putting Operating Leases on the Balance Sheet

ASC 842 requires private companies to capitalize nearly every lease longer than 12 months as a right-of-use asset and a lease liability. This guide walks through the five-criteria classification test, the six-step calculation, the risk-free rate and short-term lease expedients, and the audit findings that most often trigger restatements.

Mike Thrift

financial-reportingbalance-sheetcompliance

3 май 2026 г.11 минути четене

ASC 718 Stock-Based Compensation Accounting for Startups: A Practical Guide

ASC 718 requires startups to recognize the grant-date fair value of equity awards as compensation expense over the vesting period, even when no cash changes hands. This guide covers measurement, recognition, forfeitures, modifications, disclosures, and the audit pitfalls that derail funding rounds.

Mike Thrift

startupequityequity-instruments

3 май 2026 г.14 минути четене

Foreign Exchange Gains and Losses: A Practical Multi-Currency Accounting Guide for Small Businesses

How small businesses record foreign exchange gains and losses under US GAAP (ASC 830) and IRC Section 988, with sample journal entries, realized vs. unrealized treatment, period-end revaluation, and a practical monthly close workflow.

Mike Thrift

accountingsmall-businessmulti-currency

3 май 2026 г.12 минути четене

ASC 350-40: Капитализиране срещу отнасяне към разход на вътрешно използваем софтуер

ASC 350-40 (350/40) капитализиране-срещу-разход в една таблица: разход за подготвителния етап, капитализиране за разработката, разход за следвнедряването — плюс ASU 2025-06.

Mike Thrift

saassoftware-capitalizationaccounting

2 май 2026 г.11 минути четене

Percentage of Completion vs Completed Contract: A Contractor's Guide to Construction Revenue Recognition

A side-by-side comparison of the Percentage of Completion (PCM) and Completed Contract (CCM) methods for construction revenue recognition, with worked examples, ASC 606 over-time criteria, the IRC Section 460 small contractor exception (~$31M for 2026), WIP schedule mechanics, and the overbilling/underbilling traps that wreck contractor cash flow.

Mike Thrift

constructionjob-costingrevenue-recognition

1 май 2026 г.12 минути четене

Restaurant Accounting Demystified: Prime Cost, Tip Pooling, and COGS

A working guide to the three numbers that decide whether a restaurant makes money — prime cost, food and beverage COGS, and tip pooling — with 2026 benchmarks, FLSA rules, and a weekly accounting cadence.

Mike Thrift

restaurantaccountingcost-of-goods-sold

24 април 2026 г.10 минути четене

The Client Intake Form That Saves Accounting Firms 20% in Lost Revenue

A diagnostic accounting client intake form captures decision-makers, transaction volumes, historical issues, and billing constraints — preventing the scope creep that costs firms up to 20% of annual revenue.

Mike Thrift

accountingbookkeepingcpa

24 април 2026 г.10 минути четене

Engagement Letters for Accountants: A Complete Guide to Protecting Your Practice

Over half of tax-related professional liability claims against CPA firms involve engagements with no signed engagement letter, and firms without one see average claim amounts rise 19% to 71%. A well-drafted letter defines scope, caps liability, and converts the riskiest part of onboarding into a defensible client relationship.

Mike Thrift

cpaaccountinglegal

24 април 2026 г.10 минути четене

Quote-to-Cash vs. Order-to-Cash: Which Revenue Process Is Your Business Really Running?

Quote-to-Cash spans the full revenue lifecycle from quote to renewal; Order-to-Cash is the subset that starts after a contract is signed. Knowing which process is broken — and which KPIs to track — can cut DSO by up to 30% and recapture up to 60% of revenue leakage.

Mike Thrift

revenue-recognitionaccounts-receivableinvoicing

24 април 2026 г.10 минути четене

Tiered Pricing for Accounting Firms: A Good-Better-Best Playbook

A working playbook for designing three-tier accounting firm pricing—Essential, Strategic, Comprehensive—that anchors buyer decisions, enforces scope, and lifts average revenue per client without adding headcount.

Mike Thrift

pricingpricing-strategiescpa

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