Inventory is a key balance sheet item for many companies. Depending on the nature of your operations, inventory may include raw materials, work-in-progress (WIP) inventory, and finished goods. While you...... Read More
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? However, in some cases, it may turn out to be too good to be true. While...... Read More
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new —...... Read More
Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external users of financial statements, such...... Read More
Reporting on environmental, social, and governance (ESG) matters is an increasingly crucial area of corporate compliance. While ESG reporting and disclosure apply primarily to public companies, there are efforts aimed at requiring private companies...... Read More
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and two-bedroom residences were $1,487...... Read More
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re eligible, you want to make the most of...... Read More
Open enrollment for most healthcare plans is many months away. That makes now a good time for businesses to consider changing their employer-sponsored coverage for next year, or perhaps to...... Read More
External auditors spend a lot of time during fieldwork evaluating how businesses report work-in-progress (WIP) inventory. Here’s why this warrants special attention and how auditors evaluate whether WIP estimates seem...... Read More
The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can file for an extension until October 15. In either case,...... Read More
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