Every business should prepare an annual budget, but it’s especially important in the capital-intensive manufacturing sector. Comprehensive, realistic budgets allow you to identify potential cash flow issues, production capacity constraints and othe...

Internal Revenue Service (IRS) audit rates are historically low according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. In fi...

Many recipients of the federal Paycheck Protection Program (PPP) have begun submitting their application for loan forgiveness. Anticipating that the process will take months for forgiveness to be realized, most businesses are wondering how to account...

As the COVID-19 pandemic continues to keep a majority of organizations operating in a remote environment, business owners are leaning on their accounting team now more than ever to closely monitor financials and maintain procedures, from cash flow ma...

Estimating lost profits is not always straight forward. It is important to look behind a company’s financials for signs they might have been manipulated or falsified, especially during a down economy. What Might Have Been Lost profits calculations ...

As the COVID-19 pandemic continues to throw curveballs into daily business operations, 2020 fiscal year-end audits are also expected to be affected. Since the World Health Organization (WHO) declared the pandemic a public health emergency on Jan. 30,...

When it comes time to prepare for an audit, it’s easy to get overwhelmed. With the current COVID-19 health crisis, many auditors are still working remotely, creating an unprecedented need for remote audits. While auditing remotely sounds difficult,...

With the passing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) comes additional challenges for many companies from an accounting and reporting perspective. The act included many provisions, such as grants, employer retention c...