THIS WEEK'S RESOURCES
- GASB Issues Concepts Statement on Communication
- Small Business Gets EDI Link
- Five Ways to Improve Due Diligence
- FASB Options Rules Also Affect Private Firms
- IRS Targets Small Business
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THIS WEEKS RESOURCES
Hoping for more efficient and effective use of financial reports, the Governmental Accounting Standards Board (GASB) has issued Concepts Statement No. 3, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements, Business Wire reported.
RedTail Solutions has created a new program to build and support direct EDI links to several popular small business accounting software applications.
Due diligence is most commonly performed during the sale of a business. It can, however, be a useful tool for gaining a truer picture of the current state of a company whether it is up for sale or not. Here are 5 hints from TheStreet.com, for making the most of a due diligence audit: more coming.
Late in 2004, the Financial Accounting Standards Board (FASB) issued a controversial ruling regarding how companies list outstanding options as expenses on their books. The impact of the new guidelines on public companies, which goes into effect in June, has attracted most of the attention. Private companies, however, are just as likely to feel the effects of the ruling when the guidelines go into effect for them in December.
The Internal Revenue Service is targeting small businesses. Concerned about widespread noncompliance with employment tax rules, the IRS in February unveiled a new form for filing employment taxes, it hopes will simplify payroll tax reporting and reduce errors.
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