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Any company that has gone through a merger and acquisition (M&A) understands the complexity involved in accounting for divestitures. Covered under ASC 805 (formerly SFAS 141), accounting for divestitures — along with accounting for business combinations, discontinued operations, impairments, intangibles and segment reporting — poses many challenges for businesses and...

Manufacturers make or create products to sell to customers, but service businesses sell customers something a little less tangible. While manufacturers keep careful track of their product inventory, service businesses need to track a different kind of inventory: the time employees spend working that can be billed to clients. This measurement...

Most businesses, regardless of their size, utilize policies and procedures as part of their organizational structure. The larger the organization, the more important policies and procedures (or P&Ps) tend to be. However, even small firms can benefit by creating well-defined P&Ps, communicating them throughout the organization, and taking steps to...