The latest federally-sponsored, pandemic-related financial relief plan has been targeted to assist those in the food and beverage industry get back on their feet. This relief plan is called the Restaurant Revitalization Fund (RRF) and it is sponsored by the U.S. Small Business Administration (SBA). It was established as part of the American Rescue Plan […]
Do you really have enough cash? Let me be more specific: Do you really have enough cash for the next horrific event in your industry? Hertz Corporation, a household name for decades to business travelers, filed for Chapter 11 bankruptcy last year when the travel industry collapsed. They were already short of cash in an […]
The Public Company Accounting Oversight Board (‘PCAOB’ or ‘Board’) is a non-profit organization that regulates the auditors of publicly traded companies. The PCAOB was established as part of the Sarbanes-Oxley Act of 2002 (SOX), which was passed to provide protection to investors and stakeholders of public companies after the significant number of accounting scandals in […]
Auditors are professionals who examine and report on financial statements. They review and evaluate companies’ financial statements provided to them by the accounting team. Besides analyzing the books for quality, they also check for mismanagement of companies’ funds. Auditors may also offer advice on efficiency, as well as financial and data risks and controls. As […]
Artificial intelligence (AI) is quickly becoming a feature of many enterprises’ daily operations, with AI chatbots and product recommendation engines already in use. Major accounting firms are now acknowledging how artificial intelligence is transforming the corporate accounting profession, committing to invest billions of dollars in artificial intelligence and data analytics research and development. Not only […]
The role of an internal auditor is to carry out an independent appraisal of how a company operates, its processes, and the risks that may affect the company. Internal audits evaluate a company’s internal controls, including its corporate governance and its accounting processes. These audits check for compliance with laws and regulations and identify problems […]
Robotic Process Automation has risen to prominence as a result of seismic shifts in the rapidly changing digital economy. Automation technology has penetrated all industries to the point that it is progressively becoming a fundamental part of business growth strategies. According to a recent report by Deloitte, 52.8 % of professionals want to improve and […]
Pick up any business newspaper today and someone will be opining on the interest rate yield curve. Is it going up, going down, reversing, inverting, or just resting quietly? You’re busy running a business that isn’t a bank, so what’s that all about? Why do you care? What should you do, if anything? This post […]
The G7, an organization of the world’s seven largest advanced economies, made a historic agreement to extract more money from multinational corporations including Amazon, Google, Facebook and Apple to decrease their incentive to transfer earnings to low-tax offshore havens. The G-7 agreement is a start toward reforming the global tax system that observers said allowed […]
The Paycheck Protection Program (PPP), which is administered by the United States Small Business Administration (SBA), was created as a part of the Coronavirus Aid, Relief, and Economic Security Act (CARES) in early 2020. The PPP provided loans to qualifying entities affected by the Coronavirus. Basics of the PPP A qualifying entity could apply for […]
