Gardiner + Co. has spent the last few years researching artificial intelligence (AI) and now is the time for us to forge ahead with this technology. The firm will employ AI in some engagements in 2022 and will expand our use over the next few years to engagements that can benefit from it. The concept...

Since the Financial Accounting Standards Board (FASB) began the process of enhancing the lease accounting standard in 2006, and after several delays of the implementation dates, it seemed that maybe this would never become a reality, but the time has come. Accounting Standards Codification 842 – Leases became effective for companies with fiscal years beginning...

Materiality in an AuditAU-C Section 320, Materiality in Planning and Performing an Audit. Materiality is subject to the auditor’s professional judgment. We must consider the information needs of the financial statement users as a group. We apply materiality in (1) planning and performing the audit; (2) evaluating the effect of identified misstatements on the audit;...

We’ve all been affected by COVID-19, either personally or in our businesses, and it was a long year for us all to endure. COVID-19 has had a significant impact on many areas affecting our business, both what we do, and how we do it. Some of these impacts are merely deferrals, others are perhaps a...

In my last article, I wrote about what had become the new work environment at Gardiner + Company as a result of the pandemic. What we learned during the pandemic is that we are able to perform our primary job functions as efficiently working remote as being in our offices (or yours). Our profession is...

While you have been dealing with un-cooperative weather this spring and early summer in your operations, we have been busy trying to better ourselves to service your accounting and tax needs. In early May, the Gardiner + Co. staff participated in our annual staff training event in Des Moines. We brought in outside speakers to...