Public policy organization reports increase in restatements
Accurate financial statements are essential to making informed business decisions. So, managers and other stakeholders may express concern when a company restates its financial results. Before jumping to premature conclusions, however, it’s important to dig deeper to evaluate what happened. […]
Read More What are AUP engagements — and does your business need one?
In certain circumstances, businesses may need to hire CPAs to perform agreed-upon procedures (AUPs) instead of (or in addition to) a review or an audit. According to the standards set forth by the American Institute of Certified Public Accountants, AUPs […]
Read More Auditing warehouse operations
When you hear the word “audit,” you might automatically associate it with financial reporting or the IRS. But auditing warehouse operations might also be beneficial for some businesses, such as manufacturers, distributors and retailers. Awkward or repetitive movements by employees, […]
Read More Best practices for expense reporting
When it comes to expense reporting, having rigorous financial controls is critical to operating a profitable business. You should monitor expenditures incurred by employees on behalf of the company. This enables your organization to track spending, control costs and maintain […]
Read More Why auditors monitor journal entries
With a median loss of $766,000, financial misstatement schemes are the costliest type of fraud, according to “Occupational Fraud 2024: A Report to the Nations,” a study published by the Association of Certified Fraud Examiners. Fortunately, auditors and forensic accountants […]
Read More What drives value for manufacturing companies?
Manufacturers are as varied as the products they make. They come in different sizes and specialties. So no universal formula applies when determining their value. Instead, a business valuator must fully understand the subject company’s operations to arrive at an […]
Read More A business valuator is a must-have when filing a business interruption claim
Meteorologists warn that the 2024 hurricane season could break records, possibly surpassing 2020, the worst hurricane season on record. Even if hurricanes aren’t a threat where your business operates, other natural disasters — such as floods, wildfires and tornadoes — […]
Read More Valuing a business for a dissenting or oppressed shareholder case
Shareholders who own a minority interest in a business may not always agree with key decisions made by controlling shareholders. For instance, a minority shareholder might object to a stock-for-stock or “squeeze-out” merger. Or, if a proposed transaction will reduce […]
Read More Business owners: Understanding value is key to updating your estate plan
Summer is a great time for business owners to review their estate plans. Maybe your kids are home for summer break, so they’re top of mind. Or perhaps you’re vacationing with relatives or getting together for a backyard BBQ. Whatever […]
Read More Valuing a business for a divorce
When a marital estate includes an interest in a closely held business, determining its value for purposes of dividing up assets for a divorce settlement can be challenging. Additionally, part or all of the business may be excluded from the […]
Read More How to choose the best inventory accounting method for your manufacturing company
Your choice of accounting method for determining the value of your manufacturing company’s inventory can significantly impact your overall tax bill. Here are answers to some key questions regarding the tax and financial implications of the two most common methods: […]
Read More Want to launch a manufacturing company? Factor in the tax treatment of start-up costs
Starting a manufacturing company isn’t a decision to be taken lightly. But given the current demand for innovative, technology-driven solutions to an array of challenging problems, there are many new opportunities for entrepreneurs to grasp. Of course, getting a manufacturing […]
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