What Do Your Financial Statements Say

Financial statements tell your business’s story, inside and out Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are detailed and carefully organized reports about…

Develop Your Succession Plan Now

Using knowledge management to develop your succession plan As the old saying goes, “Knowledge is power.” This certainly rings true for succession planning in business, as those who best understand their industries and markets tend to have a knack for staying on top. If that person is a company’s owner, however, great knowledge can turn…

Is America Prepared to Retire?

A look at some ways to get ready. Provided by Dane Wilson, Financial Advisor Are Americans saving enough? Only 19% of U.S. adults describe themselves as “very confident” when asked about their savings. Worry spots include retiring without enough money saved (16%) and anxiety about having a “rainy day” emergency fund (14%). These findings come…

Government Agencies and the Rehabilitation Act

Why the Rehabilitation Act encourages active accommodation The Rehabilitation Act prevents federal government agencies and contractors from discriminating against disabled individuals. When an Alabama equipment operator claimed constructive discharge and denial of reasonable accommodations under the Rehabilitation Act following an on-the-job injury, the Eleventh Circuit Court of Appeals reviewed the matter. At issue was whether…

Fraud Trends and Prevention Methods

Updated survey provides insight into fraud trends and prevention methods The Association of Certified Fraud Examiners (ACFE) has released its Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse. The ACFE updates this report every two years. Consistent with previous studies, the ACFE estimates that occupational fraud costs the typical organization 5%…

Your Business and Audits of Cashless Transactions

Auditing Financial Statements in a Cashless Environment Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your financial statements? Cashless transactions require the exchange of digital…