Sales and Your Business During Pandemic

Businesses revise sales compensation models during pandemic Economists will look back on 2020 as a year with a distinct before and after. In early March, most companies’ sales projections looked a certain way. Just a few weeks later, those projections had changed significantly — and not for the better. Because of the novel coronavirus (COVID-19)…

Virtual Team Building – How to Succeed

Virtual team building while working remotely Thanks to affordable technology, more and more companies have been allowing employees to work remotely in recent years. It’s become feasible to procure laptops, set up security protocols, and use cloud servers.  We also rely on employees’ home Wi-Fi connections to create functional virtual workspaces. In turn, many of…

Financial Reporting During the COVID-19 Pandemic

Financial reporting and adjusting your financial statements The Corona-virus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel corona-virus (COVID-19) crisis. So these provisions will also have an impact on financial reporting. Companies that issue financial statements under U.S. Generally…

Layoffs and Furloughs – Which is Which?

What are the key distinctions between layoffs and furloughs? Layoffs and furloughs, is it time to decide?  As businesses across the country grapple with the economic fallout from the novel coronavirus (COVID-19) pandemic, many must decide whether to downsize their workforces to lower payroll costs and stabilize cash flow. If your company is contemplating such…

Financial Statements: GAAP vs. Tax-basis

GAAP vs. tax-basis: Which financial statement is right for your business? Most businesses financial statements report financial performance using U.S. Generally Accepted Accounting Principles (GAAP). But the income-tax-basis format can save time and money for some private companies. Here’s information to help you choose the financial reporting framework that will work for your situation. The…