Exposure Draft: Crypto Assets
On March 23, 2023, the Financial Accounting Standards Board (FASB) issued a proposed accounting standard…
On March 23, 2023, the Financial Accounting Standards Board (FASB) issued a proposed accounting standard…
Enterprise resource planning (ERP) is business process management software that allows an organization to use…
Simple Agreements for Future Equity (SAFE) notes have gained popularity in recent years, especially with…
Digital assets are comprised of cryptocurrencies and non-fungible tokens (NFTs) such as Bitcoin and Ethereum.
In one of our other blog posts, we mentioned that digital assets are accounted for…
There are costs associated with the issuance that may be capitalizable under US GAAP.
Accounting is one of the most important functions of any business.
Use Cases
An early-stage private company approached us to help with preparation for a first-year audit. We assisted them with auditor selection and provided an overview of how a typical AICPA audit works. We reviewed all historical journal entries (5 years) to ensure the opening balance sheet was accurate and complete. Additionally, we reviewed the current year journal entries on a risk-based approach to ensure that the client had sufficient support.
We prepared a reconciliation file in Excel that included reconciliations for all balance sheet accounts. This file also included the trial balance, the roll-up of the trial balance into the financial statements, and cash flow workbook. The file was provided to the auditors, which they used to make selections for the audit. We also prepared the financial statements and footnotes, and assisted the client with auditor questions throughout the audit.