Blogs

Single Audit Challenges

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The coronavirus has added several challenges for those performing single audits for clients with the primary challenge being how to deliver a quality audit to the client in a timely manner.  In December 2020 the Office of Management and Budget (OMB) released the newest addendum to the Compliance Supplement a

Identity Theft And Unemployment Benefits Fraud

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Americans are experiencing unemployment fraud as they started to receive documents for calculating their taxes. These scams have increased with the rise in unemployment due to the COVID-19 pandemic. Scammers are using stolen names and personal information for filing and receiving unemployment benefits.

Important Audit Areas in Not-for-Profit Organizations

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Not-for-profit (NFP) organizations have faced their own set of struggles while dealing with the coronavirus.  While there are some common struggles among all companies tasked with operating during the coronavirus, NFP organizations have been uniquely affected.  The proper reporting of both going concern

5 best ways to earn CPE credits during COVID-19

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With the global spread of novel coronavirus (COVID-19) the societal impact of the pandemic is reshaping the way businesses operate. It has changed conference events from in-person to different online alternatives. Different companies and professionals have been experimenting variety of platforms and methods to cater to the training and other needs of professionals and clients.

Ready to be a Forensic Accountant? Here's what you need to know

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Forensic accounting is a specialized area of accounting that deals with investigating frauds and uncover financial crimes. It is the responsibility of forensic accountants to examine questionable financial data, investigate fraud, bribery, money laundering, and help in civil and criminal investigations by looking deep into financial data, assets, and financial transactions.

Employee v Independent Contractor Classifications

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The determination of classifying a worker as an employee or an independent contractor has always been a manner of debate for many professionals.  While it would seem like that there should be a cut-and-dried system for making this determination, the reality is that the method of determination has always been

5 Tips to Develop Successful Business Ethics

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Ethics play a vital role in today's business as it can impact the brand image, public perception, and even productivity of employees. Companies that maintain ethical business cultures are more financially successful and have a highly motivated and productive workforce. Employees are motivated to practice honesty and integrity while they speak or act.

Benefits of online courses for accountants during COVID-19

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Due to the outbreak of coronavirus pandemic, many businesses, schools, and universities are adopting online or e-learning. The pandemic is transforming many aspects of life and education is one of them.

Recording a Contribution vs. an Exchange

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Correctly categorizing contributions, donations, and grants for proper revenue recognition on the income statement has generally been a complicated exercise.  Fortunately, the Financial Accounting Standards Board (FASB) has updated the guidance needed to assist in properly recording these revenue sources.

Offshore Accounting & Benefits

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When you are hoping to improve the productivity and growth of your firm, you have to invest in offshore accounting services. In offshoring, the business operations are relocated to another country for better opportunities and tax savings, which makes it a powerful business model.