In the audit world, we are not yet to the place where if something isn’t in the workpapers, then it wasn’t done, but we can see that place from here.
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If it isn’t documented, it wasn’t done – – SAS 103Read More »
Here is an idea if you are just getting into the peer review cycle because of mandatory review: pick your peer review cutoff date carefully. This might also help if you already have peer reviews but the timing causes a time crunch.
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Choose your Peer Review year-end cutoff carefullyRead More »
Can you picture the balance sheet and income statement rearranged so they look like the cash flow statement, with an operating, investing and financing section? No grand totals of assets or total revenue shown on the statement?
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Sighted on the distant horizon: Massive change to financial statement presentationRead More »
(cross post from www.ulvog.wordpress.com) New standard mileage rates for 2011 from IRS announcement:
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(cross post from www.ulvog.wordpress.com)
Check out how to present multiple pieces of data from every country on the planet over a 40 year trend in such a way that anyone can get your point. Professor Hans Rosling has a way of showing extremely complicated data so you can get the idea in a few minutes.
Some examples:
How do you present complex data? Look at these visualizationsRead More »
Numbermonger blog has update here on FASB and IASB reaffirming their goal for convergence. See the link for discussion and observations along with link to the FASB comment.
(Cross post from www.ulvog.wordpress.com)
Both ECFA and Guidestar recently released survey results of giving trends in 2010. Wanted to put the results side by side. …
2010 giving trends – comparison of ECFA and Guidestar surveysRead More »
If you prepare compiled financial statements for management use only (which means the reports will not be going to third parties), you will be glad to know the new SSARS 19 document includes the guidance that used to be in SSARS 8. Let me describe some of the provisions. …
Cross post from www.ulvog.wordpress.com
Incredible visualization of 200 years of economic development and improvements in health around the world. A professor creates an entertaining visual of how health and wealth has increased in 200 countries over 2 centuries. Does it all in under 5 minutes. In 1810 all countries of the world were poor and sick. The industrial revolution started many countries up the health and wealth climb. World War I and the influenza epidemic knocked everyone back. The great depression moved many countries back in wealth but not in health. After WWII, lots of countries really took off. There are big disparities in 2009, but the improvements everywhere from 1810 to 2009 are mind-boggling. Few countries are left in the poor and sick area. Most people live in the middle of wealth scale and most of the people on the planet are at the upper end of the health scale.
The million dollar question? What drives the improvement? Watch it twice to see if you think that economic development is the driver for all of it. Compare what you know about when countries started adopting the capitalist, industrial approach to their economy.
Lessons? Take your pick. War is bad for everyone. Epidemics are really bad. Economic growth helps everyone. More economic growth would close the gap between top and bottom.
Biggest factor I see in the video? Economic growth from capitalism means a country can afford better infrastructure and disease prevention meaning everyone is healthier. If we can keep from killing ourselves from another world war and keep from killing the economic engine that got us here, the future is brighter than today!
Hat tip Exurban League
As CPAs, we look for creative ways to persuade our clients to implement good internal controls. I fear that our comments as CPAs usually fade along with all the other you-gotta’-do-this-now messages in our regulatory heavy culture. Another approach is to explain the devastation that arises from fraud. I have a new post at my other blog that takes this approach: The tragedy of fraud. …
A creative way to communicate fraud prevention to your clientsRead More »
I have a long post on my other blog about the tragedy of fraud, located here. This specific post is something that has been on my mind for years. Please check it out.
Should you use a Facebook fan page instead of a website? …
I have completed the course work and am now available to provide Peer Review to CPA firms. …
“If you’ve never failed, you’ve never lived” – best motivational video ever (hat tip Mark McReynolds via one of his contacts) – what a great closing statement: “Life = Risk”.
(cross posted from ulvog.wordpress.com) As you ponder how to develop a social media strategy (or just try to figure out what is going on at Facebook, LinkedIn, and Twitter), reserve your names in those places.
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