How Tax Reform May Affect Venture Capital Funds

We’ve heard a lot about tax reform in the New Year, and as investors anxiously await delivery of their K-1 and complete tax filings, one question might still be lingering —what exactly are the effects of tax reform on [...]

By | 2018-04-11T15:09:42+00:00 March 6th, 2018|Categories: Audit, Blog, Venture Capital|Tags: , , |0 Comments

How to Classify Shareholder Advances

Owners of closely held businesses sometimes need to advance their companies money to bridge a temporary downturn or provide extra cash flow for an expansion, a major expense or other purposes. Should you categorize those advances as bona fide [...]

By | 2018-04-11T15:10:27+00:00 March 2nd, 2018|Categories: Audit, Blog|Tags: |0 Comments

What is Job Cost Reporting?

Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a general contractor constructing a strip mall, a manufacturer building made-to-order parts or an architect drawing up blueprints, once a project is underway it’s easy to [...]

By | 2018-04-11T15:14:16+00:00 February 28th, 2018|Categories: Audit, Blog|Tags: |0 Comments

For-profit vs. not-for-profit: Compare and contrast financial reporting goals

As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are generally motivated by a charitable purpose. Here’s how their respective financial statements reflect this [...]

By | 2018-04-11T15:14:56+00:00 February 20th, 2018|Categories: Audit, Blog|Tags: |0 Comments

Figuring Out Why You Need a Business Valuation

Is This Your Situation: Figuring Out Why You Need a Business Valuation Business valuations are often essential when you're trying to sell, but there are other reasons for getting one. A business valuation can help do the following: Strengthen [...]

By | 2018-02-14T12:55:10+00:00 February 7th, 2018|Categories: Audit, Blog|Tags: |0 Comments

Auditing Work in Progress

Auditing Work in Progress Financial statement auditors spend a lot of time evaluating how their clients report work in progress (WIP) inventory. Here’s why this account warrants special attention and how auditors evaluate whether WIP estimates seem reasonable. Accounting [...]

By | 2018-02-02T13:38:26+00:00 February 2nd, 2018|Categories: Audit, Blog|Tags: , |0 Comments

Confused About the Difference Between Categories of Workers?

Confused About the Difference Between Categories of Workers? So what are the tangible differences between the categories of workers referred to by the industry as subcontractors and independent consultants? And how do those roles differ from permanent employees? Correctly [...]

By | 2018-01-31T14:12:51+00:00 January 29th, 2018|Categories: Audit, Blog, Tax|Tags: , |0 Comments

How to Prepare for a Business Valuation

How to Prepare for a Business Valuation You're thinking about getting your business valued. What do you need to do to make sure it goes smoothly and leads to an accurate result? Below is a list of the key [...]

By | 2018-01-02T15:33:45+00:00 December 27th, 2017|Categories: Audit, Blog|Tags: |0 Comments

Is This Your Situation: Worried About an Upcoming Financial Statement Audit

Is This Your Situation: Worried About an Upcoming Financial Statement Audit Even a successful and growing small business should not be alarmed when a third party — a banker, an investor, a creditor or a buyer — asks for [...]

By | 2018-01-02T15:27:45+00:00 December 26th, 2017|Categories: Audit, Blog|0 Comments