About Sheila Harms

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So far Sheila Harms has created 319 blog entries.

Accounting for M&As

  Business merger and acquisition (M&A) transactions have significant financial reporting implications. Notably, the company’s balance sheet will look markedly different than it did before the business combination. Here’s some guidance on reporting business combinations under U.S. Generally Accepted Accounting Principles (GAAP). Allocating the purchase price GAAP requires a buyer to allocate the purchase price [...]

2023-11-02T13:51:04-05:00November 2nd, 2023|Accounting & Auditing Resources|

A winning combination: QuickBooks + your marketing platform

  QuickBooks® is a popular business accounting software program. There are also a number of marketing platforms that businesses can use to stay in touch with customers. Using these tools in tandem may allow your organization to synchronize customer data and bridge the gap between the finance and marketing departments. This gives insight into customer [...]

2023-09-28T10:14:30-05:00September 27th, 2023|Accounting & Auditing Resources|

FASB finalizes new crypto standard in record time

  On September 6, the Financial Accounting Standards Board (FASB) unanimously voted to finalize new accounting rules on cryptocurrency assets — less than five months after the proposed standard was issued for public comment. Here’s what companies that hold these assets should know. Need for change The updated guidance is the first explicit accounting standard [...]

2023-09-27T10:53:50-05:00September 27th, 2023|Accounting & Auditing Resources|

Navigating the percentage-of-completion method

  Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works. Completed contract vs. percentage-of-completion Homebuilders, developers, creative agencies, engineering firms and others who perform work on long-term [...]

2023-09-27T10:53:37-05:00September 27th, 2023|Accounting & Auditing Resources|
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