Cutting back on inventory is one of the best ways for your company to save money. Here are some tips on cutting back without sacrificing customer service and revenue.
While financial statements can help the monitoring of a company’s performance, they may not provide enough information to determine financial health. Often, undisclosed liabilities and risks are important determinants. There are several ways a CPA can help stakeholders identify unrecorded items through either agreed upon procedures (AUPs) that target specific accounts or external auditing procedures.
This fall, new rules will go into effect that impact the services auditing firms can provide to businesses. Taking a look at your company’s audit provider now will give you time to comply with these additions before next year’s audit begins.
2018 has brought changes to 401(k) plan policy that will impact employees and their retirement funds. It is important that employers are aware of these changes and help educate their employees of the impacts brought with them.
All businesses go through periodic cash shortages. Owners commonly think they need to get out and sell more during these times. However, this approach can occasionally increase money troubles over the short run. Why is that? It’s because of a … Continued
Job cost reporting is the system used to code and earmark project expenses to maintain or improve financial efficiency and profitability. Custom work calls for continuous supervision because once you begin a contracted job, it’s easy to concentrate on finishing the project rather than monitoring depleting resources. From the architect drawing up blueprints to the general contractor constructing a medical plaza, you need to keep track of expenses to produce the best financial results.
Budgeting is no time for shortcuts. Instead of estimating your future needs and expenses, using the company’s financial statements to create a solid budget based on past actuals will help you more easily manage cash flow, debt and profits. 1. … Continued
When performing an audit of your firm’s financials, an auditor must verify account balances and transactions to arrive at an opinion regarding your financial statements. Understanding what to anticipate in terms of document requests and inquiries prior to the start … Continued
Work-in-progress (WIP) reports are frequently used by manufacturers, media and film companies, construction contractors, and other entities to help management track inventory and gauge profit on long-term projects. Regularly monitoring these reports can help maximize profitability and uncover problems before … Continued
It’s not uncommon for management to use accounting estimates for certain items on the balance sheet. However, current means of accounting for uncertainty may not cut it during an audit in today’s environment of unprecedented risk, including geopolitical influences, tax … Continued