Is It Worth It?That’s the question every finance, accounting and L&D leader must ask themselves, and too few do it with real numbers. In our recent whitepaper, entitled, “The (fairly) Simple ROI of Professional Development for Finance and Accounting” we lay out the case for professional development in corporate finance and accounting organizations in a […]

GAAP stands for Generally Accepted Accounting Principles and is the accounting standard used by the United States.  The standard-setting board behind GAAP is the Financial Accounting Standards Board (FASB). IFRS stands for International Financial Reporting Standards and it is the accounting standard system used over 120 countries all over the world.  The standards-setting board behind […]

About Knitting and Systems EvolutionAlert: This is not a techie post about bits and bytes. It’s about making good decisions when your internal growth requires support from outside your company in an area that is not your area of expertise. And it’s from an actual case history, although the end to the story is yet […]

The U.S. Department of Labor (DOL) has announced a proposed rule for tip provisions of the Fair Labor Standards Act (FLSA).  The proposed rule would implement provisions of the Consolidated Appropriations Act of 2018 (CAA). The proposal would also codify existing Wage and Hour Division (WHD) guidance into a rule.  According to the announcement: The […]

Benjamin Franklin is often credited with saying “nothing is certain in life but death and taxes”.  While this quote has been edited to include all sorts of silly sayings and puns, it can hardly be argued against, especially when it comes to taxes.  Everyone is affected by taxes – they cannot be avoided! There is […]

Disaster occurs without warning.  Your employees may be affected by wildfires, earthquakes, hurricanes, ice storms and/or tornados.  When a disaster occurs, personal lives can be upended. Loss of homes and property is a common occurrence when a disaster strikes.  And employers may want to help their individual employees recover. But what if an employer gives […]

Knowing the wage and hour laws and applying them is one of the basic tasks of employers in general and the payroll department in specific. But if payroll must apply the laws then the question must arise—what are the laws, and which one applies? Payroll chat rooms, blogs and classrooms constantly discuss this question.  How […]

It’s unlikely that you will ever come across anyone who enjoys paying taxes, much less preparing them!  For those required to file corporate tax returns, the task can be even more challenging and unnerving that preparing their individual returns.  The current tax environment is a complex one that changes regularly. Corporations have their own tax […]

I discussed the complexities of compliance with wage and hour laws in a previous post.  Which apply…federal or state? What areas are covered? When these questions do arise, where do you find the answers? Can a payroll professional simply check the Fair Labor Standards Act (FLSA) to find the answer with a quick verification of any […]

Most professions have their unique terminology that professionals use when engaging in work processes.  For accounting and bookkeeping, terminology like debts and credits, T-accounts, accruals, amortization, depreciation, GAAP, GAAS, GASB  etc. can seem like a barrier to really understanding how to record and process certain transactions. This situation is not unusual.  Think about the medical […]