Archive for Alerts & Advisories Category

Accounting & Audit Alert- How to minimize turnover in your accounting department

The demand for qualified accounting and finance personnel has grown, as business owners struggle to manage unpredictable cash flows, increased costs, and new government policies and financial aid packages. Plus, the potential job market for

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Accounting & Audit Alert- Preparing for the possibility of a remote audit

The coming audit season might be much different than seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, audit procedures are being adjusted accordingly. Here’s what might change as auditors

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Accounting & Audit Alert- How effectively does your business manage risk?

From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise

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Emerging Tax Alert- What do the 2021 cost-of-living adjustment numbers mean for you?

The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement 2020 year-end tax planning strategies,

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Accounting & Audit Alert- Best practices when forecasting cash flow

Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers

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Emerging Tax Alert- Year-end tax planning strategies must take business turbulence into account

Election years often lead to uncertainty for businesses, but 2020 surely takes the cake when it comes to unpredictability. Amid the chaos of the COVID-19 pandemic, the resulting economic downturn and civil unrest, businesses are

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Tax Alert- Buying and selling mutual fund shares: Avoid these tax pitfalls

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without

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Accounting & Audit Alert- Avoiding conflicts of interest with auditors

A conflict of interest could impair your auditor’s objectivity and integrity and potentially compromise you company’s financial statements. That’s why it’s important to identify and manage potential conflicts of interest. What is a conflict of

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Accounting & Audit Alert- Gifts in kind: New reporting requirements for nonprofits

On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are

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Accounting & Audit Alert- Auditing revenue

Traditionally, audit procedures for private companies tend to focus on the balance sheet. That is, auditors evaluate whether the book values of the company’s assets are overstated and its liabilities are understated. However, the income

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