By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 31, 2026 | 35-minute read TL;DR — The Short Answer Business combination accounting training should teach staff to reconstruct the acquired business at the acquisition date—not simply book “purchase price minus net assets = goodwill.” A
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By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 31, 2026 | 34-minute read TL;DR — The Short Answer Income tax provision training should teach staff to reconcile book income to taxable income, current tax, deferred tax, effective tax rate, and disclosure—not treat tax expense
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 28, 2026 | 36-minute read TL;DR — The Short Answer Statement of cash flows training should teach staff to prove where cash came from, where it went, and why ending cash changed—not force the statement to
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 28, 2026 | 31-minute read TL;DR — The Short Answer Cost accounting training should teach staff to explain why a product, service, customer, location, or job earns—or loses—money, not merely assign overhead and report a gross-margin
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 28, 2026 | 31-minute read TL;DR — The Short Answer Equity accounting training should teach staff to explain every change in ownership equity from legal authorization to the statement of equity—not treat equity as the balancing
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 27, 2026 | 30-minute read TL;DR — The Short Answer Debt accounting training should teach staff to prove what the borrower owes, what the debt actually costs, whether the company is in compliance, and how the
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 27, 2026 | 22-minute read TL;DR — The Short Answer Consolidation accounting training should teach staff to move from legal-entity trial balances to one supportable economic story—not simply stack ledgers together and post eliminations until the
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting FirmsLast updated: August 27, 2026 | 37-minute read TL;DR — The Short Answer Intercompany accounting training should teach staff to make the entities agree before consolidation—not use elimination entries as plugs for unresolved differences. A review-ready staff accountant can map
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 26, 2026 | 38-minute read TL;DR — The Short Answer Inventory accounting training should teach staff to prove ownership, quantity, unit cost, cutoff, recoverability, and reconciliation—not simply accept the perpetual inventory report and book a year-end
By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: August 26, 2026 | 41-minute read TL;DR — The Short Answer Lease accounting training should teach staff to prove why an arrangement is a lease, why the lease term and discount rate are supportable, and why the
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