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Alerding CPA Group

Time For States To Get On Board With New Expert Witness Rules

| Litigation

By Mike Alerding    Effective December 1, 2010, an important and long-awaited rule change was made to Rule 26 of the Federal Rules of Civil Procedure relating to expert reports. Working as an expert in a variety of different matters for the past 25 years, I was relieved and overjoyed with the change. Now it is time for the different states to get on board with making changes to their rules to accommodate this same type of change. The changes to Rule 26 now provide that the expert’s draft report Read more [...]

Information Overload in Financial Reporting for Closely Held Businesses – Part 3

| Audit and Accounting

By Mike Alerding     Over the years, closely held businesses have really received the short end of the stick when it came to compliance with accounting and reporting standards. Pronouncements have always started with the publicly held sector and trickled down to the closely held sector, even though many – if not most – of them either didn’t really apply or had diminimus value to the reader/users of the financial statements. The trickledown effect has been costly and continues to increase Read more [...]

Information Overload in Financial Reporting for Closely Held Businesses – Part 2

| Audit and Accounting

If a tree falls in the forest and no one hears it, did it really make a noise? By Mike Alerding     I have been reviewing, drafting and analyzing financial statements for closely held businesses for almost 40 years. I have had the opportunity to see basic financial statements and disclosure requirements change markedly, probably a half a dozen different times, usually as a result of some malady in the US economic markets. Beginning with the formation of the Financial Accounting Standards Board Read more [...]

Information Overload in Financial Reporting for Closely Held Businesses – Part 1

| Audit and Accounting

Let’s get back to keeping our eye on the ball... By Mike Alerding     In the spectrum of financial reporting for business entities, the past nine years are generally known as the “Post-Enron” period. The debacle that US businesses have had to endure during this period is not only unprecedented in terms of the number of new financial reporting rules but, more importantly, in terms of the complexity and absurdity of the types of disclosures that are now required. By any definition, it has Read more [...]