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…
How Is Your 401(k) Performing? Do You Know?
Give your 401(k) plan a checkup at least once a year In many industries, offering a 401(k) plan is a competitive necessity. If you don’t offer one and a competitor…
Audit Procedures: Risk assessment
Audit Procedures and Risk assessment: A critical part of the audit process Audit season is right around the corner for calendar-year entities. Here’s what your auditor is doing behind the…
Auditing Grant Compliance
Auditing grant compliance Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm. Here’s what grant…
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…
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…
Prepare for Physical Inventory
Are you preparing for your physical inventory counts? This is more than a compliance chore. Companies that are proactive use inventory as an opportunity to improve efficiency. The Basics Under…
Business Complained – FASB Responded
Cloud Servers vs. Physical Servers – FASB Responds Businesses have complained to the Financial Accounting Standards Board (FASB) about the different accounting treatment for cloud-based services vs. those operated on…
Audit Opinions: How Your Financial Statements Measure Up
What’s Your Audit Opinion The type of opinion your auditor issues tells stakeholders whether you’re in compliance with accounting rules and likely to continue operating as a going concern. These…
Do an Employee Benefit Plan Audit Before the IRS or DOL
Why would an employer self-impose an employee benefit plan audit? Because it’s a good idea for employers to self-audit their retirement plans by hiring an experienced professional to determine if…