Tag: Business Advisory

Analytical procedures are required for all financial statement audit engagements, according to the auditing standards published by the American Institute of Certified Public Accountants (AICPA). Audit analytics can help minimize the time and cost associated Read More

Breakeven and burn rate have historically been used to gauge the viability of start-ups and high-tech companies that have yet to turn a profit. But these analytical tools can also be used by established businesses Read More

“IRS cracks down on aggressive ERC marketing promoters and employers filing dubious claims” On July 26, 2023, the IRS Commissioner, Danny Werfel, announced that the agency has made significant progress in processing Employee Retention Credit Read More

There are many types of professional practices. Examples include medical, architecture, engineering, accounting, advertising, design and law. From a business valuation perspective, it's important to recognize the common denominators these businesses share.   Reliance on Read More

Section 263A is an often misunderstood and misapplied part of the Internal Revenue Code. And it's one that many construction businesses — particularly homebuilders — should get a handle on to avoid unexpected tax issues Read More

For decades, products that were made in America were synonymous with high quality and were manufactured in great abundance. Comparable products from other countries were often viewed as cheaper knockoffs. However, in the late 20th Read More

Entrepreneurs are typically overachievers who direct a laser-like focus on their business. Many feel responsible for managing the smallest details and responsibilities. But while some early-stage businesses can’t afford much of a payroll, there’s a Read More

For most businesses, few topics are as critical as managing cash flow, but with numerous pressing matters demanding attention, it is common for busy entrepreneurs to overlook warning signs of potential cash flow problems. Here Read More

External market conditions may affect the amounts reported for certain items on the financial statements, including profits, loans, leases, investments and intangible assets. Estimates and disclosures for various items may be affected by current (or Read More

Most business owners can agree that we are living in strange economic times. Some industries are thriving while others are struggling to contend with high interest rates, lingering supply chain issues, and inconsistent consumer behavior. Read More