Your Disaster Response Plan in 2020
Reviewing your disaster response plan in a tumultuous year It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner —…
Prioritize Customer Service Now More Than Ever
Prioritize customer service now more than ever How do you customer service? You’d be hard-pressed to find a business that doesn’t value its customers, but tough times put many things…
Complex Accounting Rules During COVID-19
Accounting Rules and How to Report COVID-19-related Debt Restructuring Today, many banks are working with struggling borrowers on loan modifications. As recent guidance from the Financial Accounting Standards Board (FASB)…
Financial Statements in Times of Crisis
Your financial statements and on-time financial reporting is key Financial Statements. Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to…
ESOP Offers Businesses a Variety of Potential Benefits
ESOPs and Your Business Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a reality. Under…
Disaster Recovery Plan – Got One?
3 steps to “stress test” your business Disaster recovery plan. During the COVID-19 crisis, you can’t afford to lose sight of other ongoing risk factors, such as cyberthreats, fraud, emerging…
Reporting CAMs in the COVID-19 era
Reporting CAMs in the COVID-19 era Starting in 2019, auditors’ reports for certain public companies must contain a new element: critical audit matters (CAMs). The requirement was in effect for…
Does your business have a unique selling proposition?
Your Companies Selling Strengths Many business owners — particularly those who own smaller companies — spend so much time trying to eliminate weaknesses that they never fully capitalize on their…
Good Records and a Trouble-free IRS Audit
Good records are the key to tax deductions and trouble-free IRS audits If you operate a small business, or you’re starting a new one, you probably know you need to…
Financial Statements and Revenue Recognition
Financial statements, revenue recognition, and leases: FASB gives certain entities more time Private companies and most nonprofits were supposed to implement (in their financial statements) updated revenue recognition guidance in…