Manufacturers must act now to maximize depreciation-related tax breaks for 2022
If your manufacturing company needs new equipment, now is the time to purchase it and place it into service to maximize tax breaks relating to depreciation
Read More3 ways manufacturers can better prepare for the next supply chain disruption
Are supply chain disruptions affecting your manufacturing company’s bottom line? Here are three potential solutions.
Read MoreTo stay competitive, manufacturers must implement the right pricing strategy
There are much more than direct production costs that should be factored into your manufacturing company’s decision to raise its prices.
Read MoreInflation Reduction Act enhances payroll tax break for small manufacturers’ research expenses
The research tax credit for eligible small manufacturers has been expanded by the Inflation Reduction Act for tax years beginning after Dec. 31, 2022. Learn more about what’s new and what requirements must be met to qualify.
Read MoreFASB proposes last-minute changes to lease accounting rules
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon.
Read MoreHow auditors use Benford’s Law to assess transactions
Statistical tools, like Benford’s Law, can help your auditors work smarter. But it’s important to recognize the limits of these tools.
Read MoreUsing agreed-upon procedures to target specific items of concern
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
Read MoreHow to report software costs
Accounting for software costs is one of the gray areas in financial reporting. Fortunately, the FASB’s working on a project to simplify matters.
Read MoreIs it time to update your accounting practices?
Have your accounting procedures and systems kept up with the times? Here are five tips to consider.
Read MoreReap the benefits of QuickBooks software solutions
Many small and midsized businesses use QuickBooks for bookkeeping purposes. Are you taking advantage of all that your accounting software has to offer?
Read MoreWhat to do if your CFO or controller leaves
The Great Resignation has caused significant turnover at many organizations. And finding replacements for high-skill positions can be challenging in today’s labor market. Here are four questions to ask if your accounting team leader unexpectedly leaves.
Read MoreAccounting policies and procedures are essential for nonprofits, too
Not-for-profit entities may not focus on earnings per share, but that doesn’t mean they can afford to neglect their accounting function. Here are some tips to help nonprofits run a well-oiled accounting department
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