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....

There are two main types of financial reporting conducted by Los Angeles and Southern California businesses: historical reporting, which looks back at past financial performance, and predictive reporting, which proactively looks ahead to future financial performance. While the vast majority of businesses concentrate most of their efforts on historical reporting,...