Many successful firms are afraid of interacting with the Internal Revenue Service as tax season approaches. The most prevalent phobia is being audited, however this does not occur as frequently as you may imagine. It’s far more probable that your company will need to deal with a tax obligation, such as back taxes, because they […]

Giving employees a voice in their performance reviews is one of the most important things you can do to ensure their success. When employees are involved in the review process, they feel like they are part of the team and their opinions matter. This results in a more positive work environment and increased productivity. Why […]

CPE stands for continuing professional education. Accounting is a very specialized profession, and because tax rules and regulations may change quickly, accountants enroll in continuing education programs to stay up to date on changes in the law and accounting practices. They must be aware of the continuing education (CE) requirements of the states in which […]

Financial accounting is the soul of a commercial enterprise’s ability to manage economic information presented in terms of money in an effective and efficient manner. A business’s activities will be sporadic in the absence of financial accounting and its functions. Financial Accounting Definition Financial accounting is a type of accounting that involves the process of […]

Continuing Professional Education (CPE) is a requirement for Certified Public Accountants (CPAs), and it is meant to assist them in maintaining their competency and skill sets as professional service providers. CPAs must comply with all regulations set out by the state in which they are registered as part of their continuing responsibilities to keep their […]

An accountant is not the same as a Certified Public Accountant. A bachelor’s degree in accounting is common for accountants. A CPA, or Certified Public Accountant, is a professional certification that can be obtained after meeting certain educational and work criteria and passing an exam. Each state has its own set of criteria. As a […]

I wrote this article for my (print) newsletter 25 years ago. It’s so relevant even today that I decided to republish it, even though it’s longer than my usual post. I think it’s worth the extra few minutes you’ll spend reading it. We are often asked: What is the most common problem that we see […]

Finance and HR professionals are two critical departments in any organization. They both have a role in the growth and success of the company. However, they frequently fail to collaborate to pursue shared goals. Here are 5 ways HR and Finance professionals can work together to achieve growth objectives. 1. Sharing Data and Reporting One […]

It will cost you $2.15 today for what would have cost you $1 in 1990. You don’t have to read about the effects of inflation to know that it’s hitting everyone and every company. You see it at the gas pump and the supermarket. Your managers see it in the cost of raw materials, supplies, […]

When we realize that achieving profitability is a fundamental source of motivation in any firm in every industry, it becomes clear that assessing profitability is vital. In fact, analyzing profitability is one of the most significant methods to assess a company’s success. Cost accounting is a useful management tool for measuring profitability in a business. So, what […]