Audit News - Beene Garter

Business team discussing whether their retirement plan needs a limited scope audit or full-scope audit

Does Our Retirement Plan Need A Limited Scope Or Full-Scope Audit?

Posted November 20, 2020

Great question. First, we're going to assume you have an employee benefit plan that needs to be audited. If you … Read More

Business owner working on a strong internal controls plan

4 Areas Of Your Small Business That Need Strong Internal Controls

Posted April 22, 2020

Establishing strong internal controls within your organization is key to protecting it from embezzlement, asset misappropriation, and other types of … Read More

Two professionals discussing an employee benefit plan audit while sitting at a desk

This Is When You Need To Have An Employee Benefit Plan Audit

Posted January 8, 2020

If you offer a benefit plan to your employees, you may be required to have the plan audited. The Employee … Read More

Two coworkers discussing Topic 606 - new revenue recognition standard

The New Revenue Recognition Standard Is Here. Are You Ready For Topic 606?

Posted September 18, 2019

Is your business a private company? Or a nonprofit? Does your fiscal year start on or after Oct. 1? If … Read More

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How To Audit-Proof Your Shareholder Loan

Posted August 1, 2018

If you're a business owner and your company lends you money, you'll enter it in the books as a shareholder … Read More

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The 5 Step Approach To Revenue Recognition

Posted June 13, 2018

The Financial Accounting Standards Board (FASB) issued Revenue from Contracts with Customers (Topic 606) to clarify and apply revenue recognition … Read More

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How To Prepare For The New Revenue Recognition Standard

Posted May 23, 2018

Revenue is one of the most important factors used to assess an entity's financial performance and position. But, previous revenue … Read More

Image of business shareholders meeting in conference room and discussing the new partnership audit rules

New IRS Partnership Audit Rules

Posted October 25, 2017

In June 2017, the IRS reissued regulations that will change how it conducts audits of partnerships. Under the new rules, … Read More

Image of two men standing in warehouse and valuing inventory

A Guide To Valuing Inventory And Inventory Accounting

Posted January 14, 2016

Proper accounting for inventory is important for manufacturers, distributors and resellers. Costs associated with inventory generally represent the largest annual … Read More

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