About Sheila Harms

This author has not yet filled in any details.
So far Sheila Harms has created 319 blog entries.

Beware of the gray areas in accounting

  Accounting and auditing standards have come under scrutiny in the wake of recent high-profile bank failures. Investigations are currently underway about what went wrong with Silicon Valley Bank and Signature Bank. But it’s likely that some “gray areas” in the accounting rules were exploited to make these organizations appear more economically secure in their [...]

2023-04-27T09:07:45-05:00April 27th, 2023|Accounting & Auditing Resources|

Spring cleaning in QuickBooks

  Have your company’s accounting records become cluttered with duplicate items and unused accounts? When you need to revise your QuickBooks® lists — such as the chart of accounts, customers and vendors — the software provides methods for deleting, inactivating and merging list entries. Here’s what you can do to help spruce things up. Deleting [...]

2023-04-27T09:07:20-05:00April 15th, 2023|Accounting & Auditing Resources|

New-and-improved accounting rules for common control leases

  On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The updated guidance clarifies issues that are relevant to rental agreements between businesses that have the same owner. Written vs. verbal leases Accounting Standards Update (ASU) No. 2023-01, Leases (Topic 842) Common Control Arrangements, explains [...]

2023-04-27T09:07:05-05:00April 15th, 2023|Accounting & Auditing Resources|
Go to Top