Improving the Financial Reporting Timeliness

The purpose of financial reports is to report an entities financial performance for a period and the financial status at a given point in time. In order for the information to be useful, it needs to reach the user in a timely manner. For many, the year process is a task that requires a lot of …

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There’s A Pocket Guide for That?

While trying to research something both useful and interesting for government clients, I came across a “Pocket Guide for Government Employees” entitled:  “Protecting Federal Tax Information. While the guide was primarily addressing the need for state tax agencies which receive federal tax returns and return information, it reminded me that now many cities, towns and …

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Governments and Business Entities

Can governments apply the accounting and financial reporting standards that business entities use? The simple answer is no.  Governments and for-profit entities are different in a variety of ways.  One of the biggest differences is the stakeholders, and how separate accounting and financial reporting standards are in place to provide the appropriate information to meet …

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