Firm News

Firm News

  • 3 financial statements you should know March 31, 2017 Successful business people have a solid understanding of the three financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP). A complete set of financial statements helps stakeholders — including ...
  • Consider key person insurance as a succession plan safeguard March 29, 2017 In business, and in life, among the most important ways to manage risk is through insurance. For certain types of companies — particularly start-ups and small businesses — one major ...
  • How auditors evaluate fraud risks March 24, 2017 Assessing fraud risks is an integral part of the auditing process. Statement on Auditing Standards (SAS) No. 99, Consideration of Fraud in a Financial Statement Audit, requires auditors to consider ...
  • Offer plan loans? Be sure to set a reasonable interest rate March 22, 2017 Like many businesses, yours may allow retirement plan participants to take out loans from their accounts. Such loans are governed by many IRS and Department of Labor (DOL) rules and ...
  • FAQs about agreed upon procedures March 17, 2017 An agreed upon procedures (AUP) engagement uses procedures similar to an audit, but on a smaller and limited scale. Here’s how a customized AUP engagement differs from an audit and ...
  • Getting your money’s worth out of a company retreat March 16, 2017 Company retreats can cost enormous amounts of time and money. Are they worth it? Sometimes. Large-scale get-togethers can involve considerable out-of-pocket costs. And if the retreat is poorly planned or ...
  • Evaluating going concern issues March 10, 2017 Financial statements are generally prepared under the assumption that the business will remain a “going concern.” That is, it’s expected to continue to generate a positive return on its assets ...
  • Listen and trust: The power of collaborative management March 8, 2017 Many business owners are accustomed to running the whole show. But as your company grows, you’ll likely be better off sharing responsibility for major decisions. Whether you’ve recruited experienced managers ...
  • Filing deadline rapidly approaching for flow-through entities March 6, 2017 The federal income tax filing deadline for calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes is March 15. While this ...
  • Cooking the books March 3, 2017 What’s the most costly type of white collar crime? On average, a company is likely to lose more money from a scheme in which the financial statements are falsified or ...