Recent articles
Materiality, Immateriality, and Material Misstatements in Accounting Explained
What is materiality in accounting? Materiality is the accounting concept that the more significant missing or incorrect information is to an entity, the larger impact the error or omission may have on the decision-making of users of the affected financial statements....
CIS and Domestic Reverse Charge Mess
Whilst preparing accounts, I have found that my client paid a scaffolder, but has only just received the invoices. The work is for supply, erection, hire and dismantling of scaffolding, and falls within the CIS regime, and the Domestic reverse charge- neither of which...
They’re Here! 2022 PCAOB Inspection Reports: 5 Key Takeaways
Usually, the PCAOB publicly releases their inspection reports on the annually inspected filers in December, but for some reason this year’s batch was delayed. Well, we’re happy to report that the 2022 PCAOB inspection reports were finally released at the end of...
Transmittal 12513 Affects Treatment of Medicare Part C Days in DSH Calculation
A recent transmittal issued by the Centers for Medicare & Medicaid Services (CMS) outlines the process to be followed regarding the treatment of Medicare Part C days in the calculation of a hospital’s Medicare Disproportionate Share Hospital (DSH) adjustment. It’s...
Keiter Technologies: Leveraging AI Assistants in Financial Services
February 28, 2024 By Keiter CPAs How Generative AI options are enhancing client experience AI and Machine Learning (ML) have made remarkable progress in various industries, and the financial services industry is no exception. With the generative AI boom brought on by...
Understanding Variable Consideration in Construction Contracts
February 27, 2024 Topic 606: A revenue recognition refresher for construction entities Since Topic 606 Revenue from Contracts with Customers was introduced, entities have had to evaluate transactions through the unified five step approach to determine when revenue...