Financial Reporting

“Business intelligence” has become a hot buzzword in management circles recently. But what exactly does this term mean? CIO.com defines business intelligence as the “leveraging of software and services to transform data into actionable intelligence that informs an organization’s strategic and tactical business decisions.”1

More specifically,...

For years, there has been an ongoing debate in the accounting community regarding to what degree the complex requirements of generally accepted accounting principles (or GAAP) apply to small and non-public companies. U.S. GAAP was created primarily for publically held companies that have to meet strict regulatory reporting requirements....