New law puts “book income” in the crosshairs
Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are concerned that the new law could compromise the perceived objectivity of U.S. accounting rulemakers.
Read More Is your current bad debt allowance reasonable?
A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In light of this uncertainty, many companies are re-evaluating their allowances for uncollectible receivables.
Read More Consider stress testing to lower risks
Businesses today are dealing with unprecedented levels of operational, financial, compliance, reputational and strategic risks. Stress testing may be the key to keeping those risks in check.
Read More Paying tribute to auditor independence
External auditors are supposed to be public watchdogs who are “independent” of their audit clients, both in appearance and in fact. This may seem like common sense, but independence issues remain at the forefront of stakeholder concerns today.
Read More How external confirmations are used during an audit
External confirmations are one of the simplest, but most effective, audit tools. Do you understand how they work?
Read More Why auditors prefer in-person interviews to assess fraud risks
Psychologists estimate that more than 90% of communication happens through tone of voice and body language. So, when evaluating fraud risks during an audit, a face-to-face interview is critical to help detect nonverbal cues.
Read More Operating in multiple states may have tax implications for manufacturers
Could your manufacturing company owe tax in another state? One way to learn the answer is to conduct a nexus study.
Read More If your manufacturing company is considered “small,” it may be eligible for tax benefits
Are your manufacturing company’s gross receipts under $25 million? If so, it may be eligible for small business tax benefits.
Read More Bring manufacturing workers into the fold with a strong employee benefits package
If your manufacturing company is struggling to attract top talent, a healthy selection of employee benefits, in addition to competitive pay, can be the key to landing the best candidates.
Read More Don’t overlook tax considerations when selling your manufacturing business
There are many tax-related variables when it comes to selling your manufacturing company. Read more about them.
Read More How manufacturing companies can benefit from the Section 179 expensing deduction
If you’re purchasing equipment for your manufacturing company before year-end, determine if it qualifies for the Section 179 expensing deduction.
Read More Manufacturers: Take note of key tax provisions of the CHIPS Act
The CHIPS Act aims to bolster semiconductor production and economic competitiveness. Among its provisions are funding initiatives and an investment tax credit for manufacturing facilities and equipment.
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