Foster McKay’s Post

Adding a junior financial advisor to a financial advisory practice can greatly benefit the future success. This addition can bring numerous benefits and a smooth transition. Learn more by reading our blog post at https://lnkd.in/eZYiJHv9. #PracticeManagement #FinancialAdvisors #SuccessionPlanning

ASIC urges directors, preparers of financial reports and auditors to assess the impact of uncertain market and economic conditions in financial reports ending 31 December 2023. ASIC Commissioner Kate O’Rourke said, ‘Directors should ensure that company financial reports provide investors with useful and meaningful information on the impact of changing and uncertain economic and market conditions.’ Areas for particular consideration include impairment and asset values, provisions, events occurring between year end and completing the financial report, disclosures in the financial report and the impact of a new accounting standard for insurers. Read more https://bit.ly/4apZOCE #FinancialReporting #audit

“Transforming Financial Data into Insights" As a Chartered Accountant, Sandeep Goyal is dedicated to helping businesses and individuals understand their financial position and make data-driven decisions. #CharteredAccountant #CAcertified #AccountingExpert #FinancialAdvisor#SecretarialServices #CorporateLaw #ComplianceExpert #LawyerAdvice #LegalServices #CorporateLawyer

𝗧𝗵𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗜𝗻𝘁𝗲𝗿𝗶𝗺 𝗣𝗖𝗔𝗢𝗕 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 (𝟭𝟬-𝗤 𝗙𝗶𝗹𝗶𝗻𝗴𝘀) 𝗳𝗼𝗿 𝗣𝘂𝗯𝗹𝗶𝗰 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 For public listed companies, transparency is non-negotiable. Quarterly 10-Q filings are crucial for maintaining open communication with investors, providing a clear view of financial health and operations. 𝗞𝗲𝘆 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀 𝗶𝗻 𝟭𝟬-𝗤 𝗙𝗶𝗹𝗶𝗻𝗴 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀: Include balance sheets, income statements, and cash flow statements to offer a comprehensive view of financial performance. 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁’𝘀 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 (𝗠𝗗&𝗔): Highlight significant financial trends and any material changes from the last period. 𝗥𝗶𝘀𝗸 𝗙𝗮𝗰𝘁𝗼𝗿𝘀: Disclose any new risks or updates to previously reported risks that could affect the company’s financial health. 𝗟𝗲𝗴𝗮𝗹 𝗣𝗿𝗼𝗰𝗲𝗲𝗱𝗶𝗻𝗴𝘀: Report any ongoing or pending legal issues that could impact the company. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗥𝘂𝗹𝗲𝘀 𝗮𝗻𝗱 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝟭𝟬-𝗤 𝗙𝗶𝗹𝗶𝗻𝗴 𝗦𝗘𝗖 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀: Adherence to the U.S. Securities and Exchange Commission (SEC) rules is mandatory for all public companies. 𝗧𝗶𝗺𝗲𝗹𝘆 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻: Companies must file their 10-Q within 40 days after the end of each fiscal quarter. 𝗔𝗰𝗰𝘂𝗿𝗮𝗰𝘆 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗻𝗲𝘀𝘀: Ensure all information is accurate, complete, and free from material misstatements. 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝘀: Maintain strong internal controls over financial reporting to ensure reliability. Filing the 10-Q is not just a legal obligation; it's a cornerstone of corporate transparency. It is essential for maintaining investor confidence and providing a clear picture of the company's financial health. Transparency through 10-Q filings helps investors make informed decisions, fostering trust and stability in the market. For more information? Reach out to us at 𝟵𝟲𝟲𝟳𝟳𝟳𝟵𝟲𝟭𝟱 or 𝗶𝗻𝗳𝗼@𝗺𝗮𝘀𝗹𝗹𝗽.𝗰𝗼𝗺 #PCAOB #10Qfiling #accounting #auditing #CorporateGovernance #audit #accounting #auditors #corpgov #complaince #assurance #finance #AwarenessMatters #InvestorTrust #finance #PublicCompanies #rules #regulation #transparency #FinancialHealth

Attention law firms! Are you currently engaged in financial benchmarking? 🚀 Elevate Your Firm's Performance with Financial Benchmarking 📊 Ready to propel your firm to new heights? Financial benchmarking holds the key! It's a game-changer for firms aiming to maintain a competitive edge in today's dynamic landscape and can also help paint a clearer picture for PII renewals 🔍 Explore the benefits of financial benchmarking: ✅ Gain valuable insights into your firm's financial standing ✅ Identify avenues for enhancement and expansion ✅ Stay ahead of the curve and safeguard your firm's future If you don’t currently do financial benchmarking - NOW is the time to start. Get in touch with me today to discuss in more detail: lisa@lisasummertonconsultant.co.uk #FinancialBenchmarking #FirmGrowth #ProfessionalDevelopment

Useful summary about 13 Red Flags in companies financial statements.

Improve financial reporting with an effective audit committee: External auditors have primary responsibility for audit quality. However, the audit committee plays an important oversight role in the financial reporting process. Here are some best practices to consider when evaluating the composition of your company's audit committee. Understanding the audit committee's purpose Audit committees act as gatekeepers over financial reporting. This means overseeing the […] https://bit.ly/3yFQoFd

𝐇𝐨𝐰 𝐜𝐚𝐧 𝐲𝐨𝐮 𝐝𝐞𝐭𝐞𝐜𝐭 𝐡𝐢𝐝𝐝𝐞𝐧 𝐢𝐬𝐬𝐮𝐞𝐬 𝐢𝐧 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲'𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐮𝐬𝐢𝐧𝐠 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭𝐬? These documents are not just about numbers—they're narratives that tell the deeper story of a firm’s health and operational integrity. Red flags in financial statements offer a swift snapshot of potential troubles a company may currently face or could encounter soon. They serve as a crucial tool for investors, analysts, and stakeholders to uncover not just the financial health but also operational insights that may not be immediately apparent. Note that pinpointing potential issues isn't a one-size-fits-all process. Your approach to researching and reviewing financial histories shapes how you spot these. What might be worrying in one firm's books could be typical for another, depending on the industry. Still, there are specific warning signs to watch out for in any financial review. 1. Inconsistent Revenue or Expenses 2. Unexpected Changes in Accounting Policies & Estimates 3. Significant Fluctuations in Financial Ratios 4. Poor Corporate Governance 5. Contingent Liabilities & Commitments 6. Unexplained Transactions 7. Declining Profitability 8. Increasing Debt Levels 9. Negative Cash Flows 10. High Default Rates or Bad Debts 11. Inconsistent Numbers 12. Unusual Accounting Practices 13. Buildup of Inventory Learn how to read, analyze, and interpret financial statements with our Fundamentals of Financial Reporting course ➡️ https://bit.ly/3PVuLGa . . . #financejobs #financecareers #learnfinance #business #investing #finance #financialanalyst #investmentbanker #investmentanalyst  

Dear LinkedIn members, Please find the newsletter for February 2023. In this newsletter you will find: a) Works Contract Services b) Offline vs Online Accounting Tools c) Resignation of Director  d) Role of Big Data Analytics by CA’s  e) Notices for High-Value Transaction   f) Mutual Funds Do go through it and share your feedback on the same. Happy reading! Thanks & Regards CA Jithendar Patel  

It is critically important that directors (and officers) of all types of organisations have a reasonable level of financial literacy and understanding of a company’s financial statements to effectively undertake their roles and meet their statutory and legal duties. Join us on Finance Essentials For Board Members here >> https://lnkd.in/g7Re94nk