Insights

  • The Ins and Outs of Asset-Based Loans

    What it is: Simply put, asset-based loans are based on assets, generally accounts receivable and inventory, that are used as collateral. You’re putting your future revenue on the line to gain access to money right now.

    Asset-based lenders will advance funds based on an agreed percentage of the secured assets’ value. The percentage is generally 70 percent to 80 percent of eligible receivables and 50 percent of finished inventory.

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  • Uniform Standards of Professional Appraisal Practice (USPAP)

    Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a joint committee representing the major U.S. and Canadian appraisal organizations. As a result of the savings and loan crisis, the Appraisal Foundation (TAF) was formed by these same groups, along with support and input from major industry and educational groups, and TAF took over administration of USPAP. (more…)

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  • The Standards of Financial Reporting

    The International Financial Reporting Standards (IFRS) is a set of accounting guidelines that ensure accuracy and consistency in corporate finances across industries and national boundaries. More than 100 countries force public companies to observe IFRS guidelines. The U.S. has its own accounting standards known as Generally Accepted Accounting Principles (GAAP).

    Accurate reporting of finances is an important condition for a fair and competitive marketplace. Inaccurate or falsified reports can have detrimental effects on businesses and consumers alike. Thus, IFRS and GAAP were created to standardize the way these reports are created and distributed.

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  • What Is Financial Reporting?

    Financial reporting is the process of documenting and communicating financial activities and performance over specific time periods, typically on a quarterly or yearly basis. Companies use financial reports to organize accounting data and report on current financial status.

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