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

3 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.

To 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.

Inflation 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.

FASB 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.

How 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.

Using 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.

How 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.

Is it time to update your accounting practices?

Have your accounting procedures and systems kept up with the times? Here are five tips to consider.

Reap 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?

What 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.

Accounting 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