The straight line

Category Archives: Audit News

NEW LEASE ACCOUNTING STANDARD: It is Here! – Greg Cargin, CPA, Partner

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...

keep reading

Materiality and Misstatements: Two Key Audit Terms – Dennis Gardiner, CPA, Managing Partner

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;...

keep reading

What We’ve Been Up To – Greg Cargin, Partner, CPA

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...

keep reading