It's very likely you have outstanding long-term debt that spans across multiple years. A portion of that debt is due within 12 months (or...

As you're well aware of, subcontractor invoices for work performed in the current year are often received in the subsequent year. This...

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Wish you didn't have to prepay for anything, but it can be hard to avoid sometimes. Prepaids are typically thrown out by your...

DISCLAIMER: I AM NOT A TAX ACCOUNTANT. IN OTHER WORDS, I DON'T PREPARE TAX RETURNS (THANK GOD). I DO HOWEVER ESTIMATE TAXABLE INCOME FOR...

The PBC list is a list of requested items (bank reconciliations, AR aging, etc.) your third party CPA needs to successfully complete your...

Collaboration is key in an Attest engagement (Compilation, Review or Audit)! It's not enough to say "I let my CPA deal with that". Here...

Now your surety is requesting Audited financial statements. The first thing I would do if I were you is double check if they need Audited...

You're continuing to move up in the industry. A Compilation Report is no longer sufficient. You need to submit Reviewed financial...

So you need a Compilation Report? That's great news! It means you're moving up the ladder and going after more or bigger projects! I'll...

Check out the following video on reconciling job cost and billing activity. In this video, I use QuickBooks reports to perform the...

Be sure to check out the other lessons about tying out the WIP to your job schedules and trial balance! Otherwise the WIP is meaningless!...

Reconciling your book balances to the bank's is great. However, your cash may still be over or understated depending on what you have...

Befriend your balance sheet. See what makes it tick. Pull up a general ledger detail for your balance sheet accounts to understand the...

Now that you've reconciled job billings and costs to the trial balance you're ready to put a bow on it! You performed all of these steps...

Now onto reconciling job costs to the trial balance! Building on your billing reconciliation completed in the previous step, copy and...

If you haven't done so already, download the Billings and Job Cost Reconciliation ("R1") spreadsheet from the previous lesson! As you'll...

When I first started working on financial statement reviews and audits I was introduced to the "R1." After making sure retained earnings...

Retained earnings may appear to be a mysterious account but it's really not. Homework assignment! This assignment primarily applies to...

Why let the outside CPA have all of the fun? Download the Job Schedules spreadsheet so we can start. One of the first things I do after...