Organizations that have already adopted the new revenue recognition standard (ASC 606) may have discovered that it was not a smooth transition. As with any type of change in the accounting standards/methods, there are deep rooted challenges to overcome; many layers of complexities must be sorted through to ensure your business complies with the Revenue …
The construction, engineering, and architectural industries took a devastating blow when the COVID-19 pandemic swept the nation. However, forward-thinking companies looked past lockdowns and saw opportunities; during their idle time, they began to innovate. They imagined action steps they could take to improve their processes and soon began testing those hypotheses. Consequently, they improved their …
Outsourcing your CFO services is an excellent strategy that will help you stay laser-focused on building strategies and growing your business. By delegating the pivotal role of a CFO to an outside firm, you are free to redirect your time and attention to expanding your business and increasing revenue. And you won’t miss a beat, …
How SMBs Are Experiencing Growth by Outsourcing their CFO Services Read More »
Mention the words “tax break” in any business setting, and heads turn. If there’s a way to save a company money, people want details. But when you hear it’s an R&D tax credit—and you’re a manufacturing firm—it may not sound like headline breaking news. You may have always assumed that other industries, such as big …
Manufacturing Firms—Don’t Miss Out on Your R&D Tax Credit Read More »
Most business teams – in nearly every sector – are still working remotely, including their accounting and finance departments. Thus, those in the accounting and financial departments should collaborate often to identify potential risks. So how can you be certain that you have limited yet correct access to the data to make the critical financial …
Managing Company-wide Risks With Strong Financial Processes While Working Remotely! Read More »
In August 1981, the personal computer revolution was powering up; that’s when IBM released its first PC. This was the catalyst that inspired tremendous innovation in the IT and software arenas. After 2008, there was a major acceleration in the tech industry with an introduction of app-based services, utilization of big data, AI, and machine …
How Tech Companies Can Qualify For R&D Tax Credit Read More »
The Paycheck Protection Program (PPP) was established under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) to provide financial resources to small and mid-sized businesses. These funds were distributed to help companies cover certain expenses and maintain their payroll during the pandemic. You may have seen some reports circulating on the topic …
The Impact Of PPP Loan Forgiveness On R&D Tax Credit Read More »
This news is music to the ears of small business owners across the country. According to an announcement this week, the borrowing window has opened again. Business owners may now complete an application for a first or second draw. Since the first round of disbursements was depleted before many of the smaller businesses could gain …
Paycheck Protection Program Now Accepting Loan Applications Read More »
Welcome back, PPP. This sequel has been greatly anticipated, as approximately 90% of borrowers say they’ve exhausted their first loan. This lifeline may help many small business owners stay afloat until the economy bounces back. After several months of hand-wringing deliberation and debates on Capitol Hill, the U.S. Congress finally reached an agreement. On …
Highlights from the 2nd Round of the Paycheck Protection Program (PPP) Read More »
In the early stages of your business, you are most likely fixated with marketing, growing revenue and becoming a reputable brand. These are all excellent facets of your organization that deserve your focus, but the cornerstone of any business is keeping an accurate track of your cash flow. Perhaps accounting is just not your …
Outsourcing Accounting Services are Spurring Growth in Businesses of All Sizes Read More »