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Audit

Armanino’s Audit Services Team is committed to adding value to your organization. Our client service model focuses on a quick response times and efficient audit services. As a CPA firm Armanino provides audit services to small to mid-cap companies and our structure allows for more competitive fees than Big 4 and national CPAs without sacrificing quality.

Our Approach

As the regulations that affect financial reporting grow increasingly stringent, the spotlight on credible auditing has never been greater. At the same time, the growing sophistication of external audit techniques can add significant value to an organization by improving access to capital, reassuring stakeholders, and providing meaningful comparisons to other companies in your industry.

Our client service model focuses on the following:

Speed and Efficiency

Our deep familiarity with complex organizations in general, and with your industry in particular, gives us the skills necessary to conduct external audits quickly and cost-effectively, with minimal disruption to your operations. Our staff is specifically trained in the issues and business processes of your industry—they know what to look for and how to go about it with no wasted motion.

Hands-On Approach

Our partners and managers work on-site, taking a proactive approach to streamlining your audit and resolving any issues that arise. At every level of your organization, our people are equipped with robust tools and technologies to ensure a thorough and efficient audit process.

Competitive Pricing

Our evolved service model combines highly-trained staff, sophisticated methodologies and the latest technology to offer audit services at fees that are highly competitive when compared to our Big 4 and national counterparts—with no sacrifice in resources, service or quality.

Specialized External Audit Services

Beyond traditional external audits, we offer a full range of audit services to address specific needs. Our review team can analyze your financial statements to satisfy regulatory or other requirements. Our service organization control (SOC) audit compliance program can provide all three types of SOC reports to satisfy existing standards for outsourced processes. And our benefit plan audit team provides comprehensive services for employee benefits plans of all kinds. We also have a dedicated public company practice that is thoroughly trained in addressing SEC audit and compliance needs.

Global Capabilities

Even if you have operations outside the U.S., we can provide efficient auditing services that meet international standards. As an independent member firm of Moore Stephens, we provide access to the top independent accounting firm in each of your key markets. But we don’t just introduce you—we coordinate the audits with other member firms, to make sure you get the service you need across all your operations, both at home and abroad.

Services

A-133 Audit

A-133 Audit

Our team of  OMB Circular A-133 audit experts can help you determine whether you need a Single Audit.

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Agreed-Upon Procedures

Agreed-Upon Procedures

Our agreed-upon procedures engagements require us to work closely with you to understand your business and meet specific needs during a significant transaction (i.e., a merger or acquisition) or other event. 

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Benefit Plan Audits

Benefit Plan Audits

Our audit team of employee benefit plan audit experts, work with a wide range of clients, from medium-sized businesses to publicly-traded companies. Our timely and competitively-priced services, along with our network of pension-related services groups (i.e., pension administrators, attorneys and asset managers) will be beneficial to your company.

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Financial Statement Audit

Financial Statement Audit

Our audit professionals have the technical expertise to deliver a timely financial statement audit at a reasonable fee, because our audit approach is uniquely designed to avoid disruption to your day-to-day operations. Our audit partners and managers are on-site for the majority of the audit to ensure a timely and effective engagement, which is a differentiating factor for our firm.

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Internal Audit

Internal Audit

Our internal audit team regularly assists our clients in setting up internal audit functions—both financial and operational. Our experts provide greater controls and efficiencies through the internal audit function. Our operational audits are designed to complement your own internal resources.

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Reviews & Compilations

Reviews & Compilations

A review of your business's financial statements, while not as in-depth as an external audit, allows you to satisfy regulatory or other requirements and provides you with useful information. Often times, our auditors find that our financial statement reviews allow our clients to receive additional funding, extend lines of credit and beyond.

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SEC Audits

SEC Audits

Many of our dedicated public company audit professionals have more than 10 years of Big 4 experience helping public company CFOs and audit committees meet audit and compliance requirement. Since 2010, our audit team has received zero engagement deficiencies and zero quality control deficiencies on its recent inspection from the Public Company Accounting Oversight Board (PCAOB).

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SOC Audits

SOC Audits

Auditors, management and customers/users continue to strictly evaluate the service delivery processes and controls of service organizations through SOC reporting. We tailor our SOC Audit reporting by understanding your industry-specific assurance needs, your customers and your management.

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Industries


Education

Education

Leading schools, colleges and universities need a financial partner that not only addresses their audit and tax compliance issues, but their underlying business challenges. Our audit and compliance team works with more than 120 private K-12 schools, colleges and universities. We combine this depth of expertise with data-driven analytics, KPIs and the right software solutions to help our clients better prepare for the future.

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Financial Services

Financial Services

New and emerging private equity funds, mortgage pools and crowdfunding platforms need to build optimal fund, cost and servicing structures, while existing funds, pools and platforms face issues such as impairment recovery and loan loss reserves. Our audit experts help clients manage more compliant, efficient and successful operations.

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Food & Beverage

Food & Beverage

Armanino’s professionals deliver clear, actionable insights that enable businesses like yours to succeed and grow. We offer industry-specific expertise through a team of audit, tax and consulting specialists, who can help you manage the challenges that are unique to food and consumer businesses.

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Government & Utilities

Government & Utilities

Government entities and utility companies are dedicated to meeting the needs of their constituencies and maintaining public trust. Our external audit specialists understand the complexity involved in staying abreast of ever-changing accounting pronouncements, including new GASB standards and Yellow Book requirements.

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Healthcare

Healthcare

Our audit specialists understand the complexities of the healthcare industry. We have expertise in core areas such as feasibility studies, IBNR calculations, Medicare/Medi-Cal, accounting for refundable fees, valuation of receivables and analysis of third-party reimbursements (e.g., assessment of third-party liabilities).

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Insurance

Insurance

Our audit specialists understand the complexities of the insurance industry. We provide expertise on issues such as Model Audit Rule Section 16 compliance and OMB A-133, SAP, pension plan, claim, GAAP and SSAE 16 audits.

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Manufacturing & Distribution

Manufacturing & Distribution

Manufacturers today need to stay lean and agile, without neglecting product innovation, and our experts help manufacturing and distribution companies maximize their efficiency and build their profits with audits tailored to the manufacturing industry. 

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Nonprofit

Nonprofit

Armanino’s client base includes more than 600 nonprofit organizations. We have extensive experience in multiple nonprofit arenas including nonprofit GAAP, functional cost allocations, revenue recognition issues, alternative investments and the interpretation of regulatory provisions.

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Professional Services

Professional Services

To succeed in a highly competitive marketplace, professional services firms must meet their clients’ high expectations, manage their own day-to-day financial pressures and think strategically. Our audit experts help a wide range of service businesses satisfy their clients’ evolving needs, operate more efficiently and build long-term strategies for success. 

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Real Estate & Construction

Real Estate & Construction

Our external audit experts help real estate and construction companies streamline their operations, maximize their opportunities and minimize their risks in an often cyclical marketplace.

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Retail & Wholesale

Retail & Wholesale

Consumers today demand more value, better service and greater convenience, and retailers must adapt their services to meet continually evolving consumer needs. Armanino’s has a team of auditors who deliver clearly articulated and actionable audits and advice that enables businesses to increase their value.

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Technology

Technology

Our technology practice has the size and strength to deliver the audit services you need with the focused time and attention you deserve. Our references include some of the largest and fastest-growing tech companies in Silicon Valley, Silicon Beach and Austin, Texas. Our specialized services include financial statement audits and reviews, equity compensation accounting, revenue recognition, IPO readiness and more.

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Events

10/13

Armanino's Exclusive VIP Event at UG Summit

Join your fellow VIPs in Sunny Florida!

Time to enjoy good food, great drinks and excellent ...

Webinar 10/18

Gift Acceptance Policies and Procedures for Nonprofits

Your nonprofit has likely prepared and revised a number of gift acceptance policies over the years, but are they helping ...
Webinar 10/19

Accounting for Business Combinations – ASC 805 Purchase ...

Armanino’s Valuations experts will provide an overview of the scope, requirements, and common methodologies used under p ...
10/27

Exclusive Invite for Lunch on Armanino at Intacct Advan ...

Take your conference lunch to the next level - it's on us.!

Avoid the standard conferen ...

11/10

Armanino EVOLUTION 2016

Growth Through Innovation

Armanino's Annual EVOLUTION conference is focused on empowering sa ...

Resources

How to Detect & Reduce the Risk of Fraud

When it comes to your nonprofit, it is important to be on the lookout for the warning signs of fraud. implementing strong financial controls can help protect your organization.

Investors and Businesses at Odds Over Inventory Disclosures

The FASB is considering adding more detail to companies’ financial statement footnotes, while investors and businesses disagree about the pros and cons.

Are Non-GAAP Measures Helpful or Harmful?

The controversial trend that has led to backlash on the non-GAAP measures from business groups and regulators is explained.

FASB Unveils New Accounting Standard for Nonprofits

The FASB has issued the first major changes to the accounting standards for nonprofits’ financial statement presentation. Find out how it will affect your o ...

Revenue Recognition Standard: Ready, Set, Implement

The new-and-improved revenue recognition rules go live in 2018 for calendar-year public companies. The time to begin implementation is upon us.

FASB Proposes Changes to VIE Guidance

The FASB recently proposed changes to the consolidated reporting guidance entities that are the single decision maker for a VIE. We review the proposal.

How Auditors Evaluate the Going Concern Assumption

The AICPA recently issued an exposure draft that would amend the guidance for how an auditor evaluates a company’s financial viability. We review the key aspects.

AICPA Issues Clarified Attestation Standard

The ASB recently issued its attestation guidance in a new, clarified format. Here are the details on what’s changing for attestation engagements, and when those changes will become ...

Redefining “Small” for Public Companies

Do you feel overwhelmed by the regulatory red tape that comes with being publicly traded? Relief may be in the works for some companies.

FASB Issues New Rules for Credit Loss Reporting

The FASB released new rules concerning credit loss reporting. This article explains the issues with the existing reporting requirements and details a new forward-looking reporting model.

FASB Defers Controversial Credit Loss Standard

This long-awaited credit loss guidance is generally considered the FASB’s most important work in response to the 2008 financial crisis.

FASB Launches its Goodwill Simplification Project for Public Companies

The FASB recently issued a proposal to simplify the measurement of goodwill impairments by removing the current requirement for measuring them. Here’s what’s on the FASB’s radar.

How Should the SEC Define “Accredited Investors”?

Investors and private businesses are at odds over who can invest in unregistered offerings. A recent SEC report explores the options in conflict.

What Is the Proper Use of Executive Sessions

Executive sessions are a great way for nonprofit boards to have open and honest discussions. However, many nonprofit CFOs wonder when and how executive sessions s ...

What Sets Attorneys General on the Warpath Part 1: State Registration

One of the quickest ways to raise the ire of a state attorney general is to drop the ball on charitable solicitation registration.

Standards Update: Auditing the Use of Estimates and Specialists

Companies are now making a significant number of subjective estimates and relying heavily on outside parties to bring in specialized knowledge. If this sounds like your company, be aware ...

Are You Prepared for the New Revenue Recognition Rules?

U.S. companies and their auditors have a lot of work to do before the new rev rec rules go into effect. We review what’s happened over the last two years—and the details that ...

What Lessees Need to Know Today About Reporting Leases Tomorrow

Companies that lease assets such as real estate and heavy equipment, will soon have to recognize the assets and liabilities generated by contracts (longer than one year) on their balance ...

Implementing Private Company Accounting Alternatives

FASB recently published four reporting alternatives to simplify U.S. GAAP for private companies. Private companies now have an easier time electing alternative reporting methods.

Accounting Update May Change the Face of Your Financials

For the first time in more than 20 years, nonprofit financial statements are getting a face-lift in the form of proposed ASU, Presentation of Financial Statements of Not-for-Profit Entities.

Is Your Board Ready for a New Take on Your Financials?

Your board of directors and audit committee may soon be seeing your nonprofit’s financials in a whole new light, thanks to the ASU currently under deliberation by the FASB.

Start Spring Cleaning with Your Statement of Cash Flows

FASB released a proposal to clarify eight parts of its guidance on cash flow statements. It aims to answer some of the most frequently asked questions about the complex area of accounting.

Recent Study Finds Fewer Going Concern Issues Reported

The number of audit opinions qualified by an auditor’s uncertainty about a business’s ability to continue functioning as a “going concern” dropped in 2014.

Eyes on Earnings: Reporting Financial Performance

FASB has agreed to resume discussions regarding how companies report earnings on their income statements, including the effects of re-measurements on earnings.

FASB Brings Big Changes to Lease Reporting on Financial Statements

FASB has issued a revised update which will now require businesses to recognize most leases on their balance sheets, potentially inflating their reported assets a ...

Sneak Peek into New Standards and Emerging Issues

PCAOB has published reorganized auditing standards. We explain how the new framework will make the audit process more efficient and several emerging issues that warrant special attention.

FASB Standard on Financial Instruments

FASB has published its accounting standard to change how to recognize and measure financial assets and liabilities. We explain what’s changed and why this standard barely won approval.

Spotlight on Recent SEC Proposals

The comment deadlines for five SEC proposals are in early 2016. We summarize these proposals to help public companies better understand impending changes to the regulatory environment.

Disclosing Government Assistance

FASB recently released a proposal that would give a better idea of the economic incentives companies receive from all levels of government. We provide details on the proposed disclosures.

Coming Soon: Guidance on SSARS 21

In a single exposure draft, the ARSC issued three proposed statements for public comment. This article explains how this project continues the work started with its landmark “SSARS ...

leasing-standards

The FASB has decided to wrap up a decade of debate with a new accounting standard on leases. This article explains the controversy surrounding lease accounting an ...

Online Crowdfunding for Small Investors

On October 30, the SEC approved its final crowdfunding rules, allowing start-ups to raise equity online from smaller investors. Here are the details.

Vendor SOC Audits Are Critical for Hybrid Cloud Users

As companies move to the hybrid cloud, they must make sure their cloud vendors are following secure procedures for the services they provide.

5 Things Nonprofits Should Know About the New Revenue Recognition Standards

The new rev rec standards kick in for annual reporting periods beginning after December 15, 2018, but nonprofits may begin early adoption in fiscal years beginnin ...

FASB Delays Landmark Revenue Recognition Standard

On July 9, 2015, the FASB officially deferred implementation of the landmark global revenue recognition accounting standard by one year; IASB followed suit on Jul ...

Leveraging SOC Reporting to Build Customer Confidence

SOC compliance requires time and effort, but it also provides an opportunity for service organizations to differentiate themselves in their marketplace.

Uniform Grant Guidance: Internal Controls and Subrecipient Monitoring

The new Uniform Grant Guidance (UGG) released by the Office of Management and Budget requires nonprofits to rethink their approach to internal controls and subrec ...

Fixing the Overhead Myth

Although the nonprofit sector is taking steps to end the “overhead myth,” many organizations are still measured by their financial ratios and spending ...

SaaS Rev Rec Principles: How to Treat Setup and Implementation Fees

Our survey of 70 public SaaS companies includes excerpts from their revenue recognition accounting policy footnote, and their policy for recognizing non-subscription service revenues.

SaaS Companies: When to Capitalize Costs

Our survey of 80 public SaaS companies includes excerpts from their software development and sales commissions accounting policy footnotes as well as trends in capitalization models.

Healthcare Costs Can Rise When Hospitals Acquire Medical Groups - Armanino

ACA has triggered a wave of medical group mergers and acquisitions, as providers look for ways to succeed in a rapidly changing marketplace. But the deals may be ...

Benchmarking Your University: Beyond the Numbers

Consider internal benchmarks to monitor and detect trends and external benchmarks to ascertain where you’re thriving or lagging behind, based on your peers. ...

3 Steps to Help Mitigate Digital Risk

Cyber attacks happen across all industries, to companies of all sizes. CFOs need to build and maintain an effective cybersecurity strategy to mitigate digital ris ...

co1535-industry-feature

Recent FASB guidance simplifies the way private companies account for some intangible assets in a business combination.

FASB Issues ASU on Pushdown Accounting

On November 18, FASB issued Accounting Standards Update (ASU) 2014-17, giving an acquired entity the option to apply pushdown accounting when there is a change-of-control event.

What’s Your Audit Fee-to-Value Ratio?

Consistently, we find public companies are overpaying for their national and Big 4 auditors, but receiving lower-quality audits. Where do your fees fall?

SSARS 21 Accounting Update - Armanino

AICPA has issued SSARS No. 21, which will help differentiate between when an accountant performs a compilation, engagement or prepares financial statements.

nonprofit-reporting-armanino

Ensuring your board understands your finances isn’t a luxury. It’s an imperative—not just for the individual board member but also for the ...

crowdfunding-armanino

The law was seen as a game-changer for startups, but things haven’t quite gone according to plan.

XBRL Advice for Non-Accelerated Filers

XBRL, a financial reporting format the Securities and Exchange Commission started enforcing for large companies two years ago, is now due to be implemented for the remainder of public companies.
should-your-nonprofit-cash-in-on-cryptocurrency-armanino

A fascinating fad … or the next evolution of nonprofit fundraising?

rev-rec-rules-armanino

Long-awaited FASB, IASB guidance significantly changes revenue recognition in financial statements.

FASB Revises Reporting Requirements for Discontinued Operations

The Financial Accounting Standards Board (FASB) has issued guidance that lays out new rules for financial reporting on discontinued operations.
omb-issues-armanino
The Office of Management and Budget (OMB) finalized and released comprehensive new federal grant reform guidelines on December 26, 2013.

The Value of Benchmarking for Nonprofits

On March 26, Armanino hosted a roundtable “Key Reporting and Benchmarking Best Practices for Nonprofits” for top-tier CFOs from the Bay Area’s larger nonprofit organizations.

FASB Provides Private Company VIE Alternative for Leases

FASB has issued new guidance that permits private companies following GAAP to, in some circumstances, elect not to consolidate the financial reporting from variable interest entities that lease propert ...

FASB Provides Alternatives for Companies on Accounting Principles

FASB has issued two updates to Generally Accepted Accounting Principles that are intended to reduce the cost and complexity of preparing financial statements for private companies.

FASB, PCC Finalize Framework for Private Company GAAP Exceptions

FASB and the Private Company Council released new guidance that will steer their decisions related to reducing the complexity and costs of preparing financial statements for private companies that follow GAAP.

Nonprofits: Preparing for FASB Financial Reporting Changes

A recent survey ranked streamlining financial statements as the most important task on the Financial Standards Accounting Board’s (FASB) agenda over the next three-to-five years.

Nonprofits: Seeing Your Way Through Transparency

Since the IRS revised Form 990 more than five years ago to require additional disclosures, transparency has taken center stage with nonprofits.

5 Simple Steps to a Better Nonprofit Budget

Preparing your nonprofit’s annual budget is probably one of the least appealing parts of your job. Following these five simple steps can help make the process a little less painful.
 

Safety Net Essentials: Now More Than Ever, You Need Operating Reserves

Many nonprofits lack sufficient operating reserves to cover three months of expenses—the minimum level many experts consider necessary to maintain financial stability. 

A Simpler Option for Financial Reporting

Many had voiced dissatisfaction with the increasing complexity of generally accepted accounting principles. Fortunately, the Private Company Practice Section has developed an alternative.

Going for the Gold: Apply Solid Grant-Writing Techniques to Your Quest

Competition for grants is high. So, if your nonprofit is to become a grant recipient, your proposal will need to shine.

Investing the Other 95%

You’ve met the 5% Minimum Distribution Requirement. Now, what do you do with the other 95%?

Nonprofits: Make Your Mark by Benchmarking

Nonprofits that incorporate financial benchmarks into their operations are better at anticipating negative financial trends and may even see revenues climb, expenses drop and efficiencies improve.

Internal Controls: Make Your List and Check It Twice

Nonprofits that don’t exercise constant vigilance in adhering to internal controls open the door for fraud.

Non-GAAP Businesses Get New Option for Financial Reporting

The AICPA announced a new option for small business financial reporting, which is intended to ease reporting for smaller, privately held, owner-managed businesses that aren’t required to abide by GAAP.

What Are Assurance Services?

We’ll describe types of assurance engagements that can reduce risk in business acquisitions, enhance marketing efforts by providing information to customers or help strengthen donor support.

Internal Controls Fight Technology-Related Fraud for Nonprofits

The ability to accept and make online payments and maintain databases with detailed profiles of constituents offers obvious benefits to nonprofits, but it may also be subject to fraud attempts that can dodge your traditi ...

FASB Clarifies Disclosure Requirements for Offsetting

The Financial Accounting Standards Board (FASB) recently issued guidance clarifying which types of transactions will be subject to enhanced disclosure requirements for companies that offset assets and liabilities on thei ...

FASB Exempts Private Companies from a Fair Value Measurement Disclosure

The Financial Accounting Standards Board (FASB) recently issued guidance clarifying the applicability to nonpublic entities of a certain disclosure requirement regarding the fair value of assets and liabilities.

The CFOs 5 Step Guide to IPO Execution

The CFO needs to assess all of the different areas that need to be improved—and sometimes there are some large holes—in order to ensure they are prepared to tackle this major change in their business.
relocating-your-operations-armanino
Manufacturers are increasingly involving senior financial executives and outside financial advisors in their site-selection and relocation plans.

As Easy as 1, 2, 3: M&A Goes Smoother with a Financial Expert on Your Side

Mergers and acquisitions (M&A) transactions can be daunting endeavors for both buyers and sellers.

Checklist for an Effective Non-Profit Audit Committee

Unless you’re a small nonprofit with no outside audit, it’s likely that your organization has an audit committee.

When is Non-Profit Income Taxable?

Your 501(c)(3) organization generally is required to pay tax on income that isn’t related to its main purpose — even if that income keeps the not-for-profit afloat.
jobs-act-armanino
On April 5 this year, President Obama signed the JOBS Act into law. The legislation designed to give a new designation of emerging growth companies an easi ...

Are Your Clients Prepared to Handle a Fraud Disaster?

Disaster contingency plans enable businesses to protect employees, minimize losses, and get up and running again as quickly as possible.

Is Your Practice at Risk?: How to Identify Areas Susceptible to Error or Negligence

Many practices are allowing revenue to fly out the window at alarming rates simply because their billing and coding processes aren’t up to snuff.

Nonprofits: Impressing Your “Suitors” With Financial Information

Attracting funding organizations and large individual contributors to your nonprofit is a little like finding a spouse — you want to create the best impression in the hope that the other person will find yo ...

Does Your Board “Get” Your Financials?

For nonprofit executives and board members, accurate, relevant and timely financial information is key to making good decisions.

Combine Lean Logistics with Six Sigma Methodology to Achieve Goals

A successful distributor must be able to reduce overall costs and cut its time to market, all while improving the quality of its delivery.

Audit Your Licensees to Collect Royalty Payments

Electronics manufacturers know that the velocity with which products move from development to market is a determining competitive and success factor.

CFOs Can and Should Lead Innovation Revolution

Do CFOs see themselves as innovators? They should according to Tapan Munroe, a veteran economist, prolific author and thought leader on innovation. Munroe, who served as chief economist at Pacific Gas & Electric C ...

Storytelling: A Fundamental Skill of Business Leaders

Imagine you're CFO of a startup on the hunt for funding and one day you get into an elevator, the doors shut, and you realize you're alone with the head of a well-known venture capital firm. You have maybe 40 seconds ...

7 Steps for Reducing Revenue Loss

The way that a hospital manages its revenue cycle can mean the difference between a positive or negative bottom line.

crowdfunding-armanino

On April 5, 2012 President Obama signed into law the JOBS Act.  This legislation is one of the most dramatic laws to affect the star ...

Service Organization Control Reporting

In 2011, the American Institute of CPAs retired the old “SAS 70” reports. These reports have been replaced by three SOC reports—service organization control reports.

Where Should I Invest?

I recommend that you diversify your investment. Covering as many investment classes as possible might minimize your upside, but it should help counter the downside of your investment portfolio.

10-capital-financing-strategies-armanino

The capital financing environment for hospitals has become quite volatile and unpredictable. Hospitals and health systems have had to con ...

Employee Theft: Don’t Take Chances With Your Practice

At a time when reimbursement rates are being squeezed, what you don’t need is someone surreptitiously removing money from your practice.

transfer-pricing-armanino

Before you sell equipment or patent rights to a company affiliate, think twice about the price. With revenue-hungry governments worldwide ...

Financial Accounting Foundation Sets the Stage for Private Company GAAP

On May 23, after considering numerous public comments, the Financial Accounting Foundation (FAF) approved the creation of the Private Company Council (PCC).

Now is the Time to Evaluate Your Risk of Material Misstatement

It can be challenging to stay informed about business regulations and laws, regulations constantly evolve…and so must your business.

Standard Change: FASB and IASB to Issue New Approach to Lease Accounting

Up until now, accounting for heavy industrial equipment and shipping containers to office copiers and office space has been fairly straight forward but that is changing.

Is your Nonprofit Vulnerable to Fraud?

Recently, an Idaho woman was sentenced to prison for embezzling $1.3 million from the nonprofit drug and alcohol treatment organization where she had worked as a bookkeeper.

Nonprofit Operating Reserves: Checking Your Safety Net

During the last recession many nonprofits turned to their operating reserves to keep from going under. As your nonprofit prepares for those inevitable hard times in the future, you need to be clear about which — ...

Ease on Down the Road: 5 Tips for Making your Nonprofit Audit Less Stressful

Do you bite your nails before your nonprofit's external audit each year? Here are five tips for making the audit experience run more smoothly for you and your auditors.

Revenue Recognition Overhaul Nears Final Phase

Companies will see significant changes in codes and disclosure rules due to a joint project that will replace the huge body of existing revenue recognition standards with a new single model.

Back to the Future: Rely on Financial Statements to Make Decisions for the Future

Is your organization analyzing the RIGHT timely data to make business decisions and plan for the organization’s future?

powering-down-armanino

For individuals, finding ways to reduce energy consumption is usually a choice — resulting from a decision to be more environmental ...

Brace Yourself for the Next Wave of Practice Consolidation

In the health care reform law, downward pressure on physician reimbursements and the need for capital are all driving an anticipated next wave of physician practice consolidation.

Down for the Count: Detecting Inventory Fraud

Like any type of employee scam, inventory fraud can lead to losses that can go undetected for long stretches of time.

Shining for Your Board

Are you a value creator or a score keeper? Okay, maybe both, but CFOs have indicated through our annual benchmark study that they’d like to spend much more of their time creating value. They also indicated they&rsq ...

Are Your Prices Right? Reassessing Your Pricing Strategy Can Pay Dividends

Layoffs, hiring freezes, and pay and budget cuts were the go-to survival tactics during the economic downturn. In the midst of this downsizing frenzy, many manufacturers neglected to reassess their pricing strategy. < ...

“Fair Value” in a Troubled Economy

There’s no question that the struggling economy has had a negative impact on the value of many businesses and investments. But it also influences the business valuation process itself.

Will Private Companies Get Their Own GAAP?

The Financial Accounting Foundation (FAF) — parent organization to the Financial Accounting Standards Board (FASB) — will soon decide whether to adopt recommendations made earlier this year by a blue-ribbo ...

A Lean Manufacturing Environment Benefit from Lean Accounting Practices

Lean manufacturing is nothing new — many manufacturers adopted this business model during the last decade. But did you know that lean accounting is crucial to operating in a lean manufacturing environment?

Reverse Audits Ensure Appropriate Sales & Use Tax Exemptions

In an economy where there’s no room for unnecessary expenditures or costly mistakes, many manufacturers are turning to the reverse audit to make sure they haven’t overpaid sales and use taxes.

Challenges Facing 403b Plans

The implementation of the 403b audit requirement placed a new focus on compliance, requiring all ERISA–covered plans with 100 or more eligible participants at the beginning of the plan year which file a for ...

Technology CFOs Look at how to Get the Deal Done

Deal volume in the U.S. M&A market continues to rise in 2011 with across the board volume up 16.4% through May on a rolling 12-month basis. Similarly, aggregate M&A spending was $91.2 billion in May, the secon ...

Use Available Weapons to Fortify Your Manufacturing Company Against Fraud

While you were busy stemming the tide of customer defections and budgeting for rising raw material prices, another revenue-sapping issue has been growing increasingly problematic: fraud.

Get IT Right Regardless of Economic Conditions

While some cost-cutting measures may be essential in a weak economy, slashing information technology (IT) budgets and expenditures isn’t the way to stay afloat.

Can Your Company Survive a Product Recall?

Recalls — and particularly the mishandling of them — can cost manufacturers millions of dollars.

Government Provides Incentives for Electronic Health Records

The Medicare and Medicaid EHR Incentive Programs provide incentive payments to eligible professionals, eligible hospitals and critical access hospitals (CAHs) as they adopt, implement, upgrade or demonstrate meaningfu ...

FASB Issues New Standards for Fair Value Measurement and Disclosures

In conjunction with the International Accounting Standards Board (IASB), the Financial Accounting Standards Board (FASB) on May 12 issued new standards for public and private companies on fair value (FV) measurement a ...

Evaluating Charities – a Grantmaker’s Perspective

Donations are the life blood of many charities. Financial data can be a valuable tool for charities that are trying to demonstrate the effectiveness of their organization or for grantmakers who are deciding where to give ...

Royalty Audits Can Recover Revenue and Protect Property

Whether its software, technology, music, or manufacturing designs, when a company licenses its intellectual property, it obviously expects to be paid. Unfortunately, payment doesn’t always happen on auto-pilot. ...

The Return of a Stable Economy Could Pose New Business Risks

The markets are up. Companies are hiring again. And while it’s good news that earnings and profitability are up, for many companies there are still headwinds and concerns in the marketplace. One of those concern ...

Mergers & Acquisitions: A Strategy for Nonprofit Survival?

Nonprofit organizations (NPOs) are competing for a smaller number of government grants during the economic recession significantly impacting and restricting not only the industry’s ability to expand services but ...

Changes to the SAS 70 Landscape

The American Institute of CPAs (AICPA) recently issued the new controls auditing standards that build on and replace the almost twenty-year-old SAS 70 standards and will affect reports issued after June 15, 2011.

SaaS: Should You Defer Setup, Install and Configuration Fees?

One of the new revenue recognition rules, ASU 2009-13 (ASC 605-25), effective for revenue arrangements in fiscal years beginning on or after June 15, 2010, is changing the rules of the game for companies selling bundled ...

IFRS conversion: The early bird catches the most benefits

What to know about the conversion to IFRS and benefits of converting early

The question today is no longer if  IFRS will replace U.S. GAAP, but when it will happen — and a ...

Contract Audits Can Add Pure Profit to the Bottom Line

Some companies have recovered as much as a 16% increase to their bottom line when having contract audits performed.

The Private Mortgage Lending Industry - A CPA's Perspective

High quality loan opportunities now available for mortgage pool lenders

The health of real estate lending has been a closely-watched concern in 2008 as the residential subprime mortgage market ...

IRS to Increase Investigations of Nonprofit Hospitals and Other Exempt Orgs.

Federal tax authorities in February 2010 launched an initiative to expand its scrutiny of the employment tax practices of nonprofit hospitals and other tax-exempt organizations, and Armanino experts say the initiative ...

FASB Reworks Subsequent Events Guidance

On February 24, 2010, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2010-09, Subsequent Events — Amendments to Certain Recognition and Disclosure Requirements. The ASU ...

FASB Implements the New Codification of Accounting Standards

Your company’s financial statements are being held to a new standard, and it’s a standard that you may not know about. The landmark change has received little fanfare but is critical for companies as they ...

Model Audit Rules Revised for Insurance Industry

SOX-inspired regulations now making their way to the insurance industry.

Measuring Liabilities at Fair Value

On Aug. 27, 2009, the FASB issued Accounting Standards Update No. 2009-05, Measuring Liabilities at Fair Value. The ASU reports on some important amendments such as guidance on measuring the fair value of li ...

Public Companies: Top 5 Ways to Increase SOX Efficiencies and Cost Effectiveness

This top-five list gives you insight into the experience that accounting and consulting firm Armanino has gained while performing Sarbanes-Oxley (SOX) compliance services for sm ...

Time for Capital Improvements?

The solid waste industry has seen huge amounts of capital being invested to meet the AB 939 diversion goals and the required truck replacements and modifications to meet the CARB requirements.

FASB Codifies New Rules for Consolidation of VIEs

With its recent Accounting Standards Update (ASU) 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities, the Financial Accounting Standards Bo ...

Nonprofit Form 990 and Plan 403(b) Receive Makeovers

In 2009, nonprofits will need to look more closely at their Form 990 and 403(b) plans. And when they do, they will find plenty of people looking over their shoulder.

Another Step Closer to International Accounting Principles

The introduction of FAS 141(R) illustrates the continued movement towards converged accounting standards.

The Importance of Maintaining Adequate Nonprofit Operating Reserves

Maintaining adequate operating reserves is important for nonprofit organizations. In recent years, the significance of maintaining operating reserves at levels adequate for achieving financial stability has become an ...

Fraud May Come From Those You Least Suspect It

When finding ways to increase an individual's income to make ends meet proves difficult, a convenient way to relieve financial stress is through fraud.

A Sales/Use Tax Audit May Be in Your Future: Be Prepared For It

Past trends have shown that businesses in California have a 20 percent chance of being selected for a state sales/use tax audit. Large, multinational corporations are accustomed to regular sales/use tax examinations, ...

The Push for Global Accounting Standards: Big Changes in the Works

In an increasingly global economy, most financial experts agree that a single, high-quality set of international accounting standards would provide significant benefits. There's less consensus, however, on how to get the ...

FASB Issues Revenue Recognition Guidance for R&D Vendors

The Financial Accounting Standards Board (FASB) recently released Accounting Standards Update (ASU) 2010-17, Revenue Recognition — Milestone Method (Topic 605): Milestone Method of Revenue Recognition (a consensus ...

Many RIAs Must Comply with New SEC Custody Requirements


Late last year, the U.S. Securities and Exchange Commission (SEC) amended its custody rule — Rule 206(4)-2 under the Investment Advisers Act — to help safeguard investor assets. Now it’s time for ...

Ready or Not, Here IFRS Comes

Planning for the upcoming changes

The move away from U.S. Generally Accepted Accounting Principles (U.S. GAAP) to International Financial Reporting Standards (IFRS) is becoming a reality more quickly than onc ...

Fair Value Now A Bit More Fair

FAS 159 allows companies to reduce volatility offerings

In February 2007 FAS 159, "The Fair Value Option of Financial Assets and Financial Liabilities" standard was released, and with it a way to account for f ...

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