Testing Internal Controls To test the effectiveness of an organization’s internal controls, your auditor will analyze a representative sample of transactions to make assertions about the entire population. This method…
Selling your business? This checklist will help. Business owners retiring or selling their businesses engage a wide range of succession planning methods varying from simple, selling and walking away, to…
Manager Motivation Techniques Managers are the key drivers influencing employees’ best performance. Through their attitudes and behaviors they play a critical role in your company’s success and can turn a…
How materiality is established in an audit or a review When accountants conduct an audit or review, they can’t test every transaction. Instead, they set a “materiality” threshold. This benchmark…
Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future If you purchased qualifying property by December 31, 2017, you may be…
Size of charitable tax deductions depends on many factors Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much…
Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a general contractor constructing a strip mall, a manufacturer building made-to-order parts or an architect drawing up…
Your approach to building wealth should be built around your goals & values. Provided by Dane A. Wilson, Wealth Management Advisor Just what is comprehensive financial planning? As you invest…
For-profit vs. not-for-profit: Compare and contrast financial reporting goals As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on…
Got multiple locations? Expect auditors to keep a close eye on inventory. Do you remember the high-profile fraud that happened at drugstore chain Phar-Mor in the 1990s? Executives manipulated the…