Welcome to Sensiba San Filippo’s Insights Blog
Providing education and industry insights to stay steps ahead of your competition.
Sage Intacct 2023 Release 2 Enables SaaS Product Bunding, Lockable Statutory Reporting Periods, AR Payment Reversal Date Editing, and More
The ability to bundle SaaS products and allocate revenue efficiently, locking statutory reporting periods after the close, and editing dates on reversed AR payments are among the new features just unveiled in Sage Intacct [...]
Working Capital Basics and Best Practices
Working capital — the funds your company has tied up in accounts receivable, accounts payable, and inventory — is a critical performance metric. During times of rising inflation and interest rates, managers search for [...]
What Are Science-Based Targets?
Science-Based Targets (SBTs) are emissions reduction objectives aligned with latest climate science as well as the Paris Agreement's goal of limiting global warming to well under 2 degrees Celsius above pre-industrial levels. These targets [...]
Preparing for an R&D Tax Credit Audit
The Research and Development tax credit is a great way for companies to reduce their tax liability and generate savings that can be reinvested in the businesses. Companies who claim the R&D tax credit [...]
Reporting Contingent Liabilities
Contingent liabilities reflect amounts that your business might owe if a specific “triggering” event happens in the future. Sometimes companies are unclear when they’re required to report a contingent liability on their financial statements [...]
Understanding the Privacy and Confidentiality Criteria in a SOC 2 Examination
As service organizations prepare for SOC 2 examinations, understanding the roles of the Privacy and Confidentiality Trust Services Criteria (TSC) can help them manage risk more effectively and optimize the scope of SOC 2 [...]
Climate Neutrality: Your Company’s First Step Toward Net Zero
The Intergovernmental Panel on Climate Change (IPCC) has released its Synthesis Report, which provides information on the physical science, impacts, and mitigation tactics addressing the climate crisis. The report confirms we have a brief [...]
Sensiba San Filippo Welcomes Five New Partners
(Pleasanton, CA, May 1, 2023) – Sensiba San Filippo LLP (SSF), a Top 100 U.S.-based accounting and business consulting firm, is pleased to announce the promotion of five new partners effective May 1, 2023. [...]
Minimize Multistate Tax Surprises During a Transaction
As companies expand their operations and attract customers in additional states, they enjoy a host of new opportunities, but these opportunities can also create new challenges. One of the critical challenges that arises with [...]
Outsourcing Your Accounting to Address Volatility
Volatile economies and unsettled market conditions may cause growing companies to reduce spending and reassess their strategic plans. Outsourced accounting can provide a cost-effective solution for companies to meet their ongoing cash management and [...]
Choosing the Right Financial Close Software: BlackLine vs. FloQast
As mid-market companies evaluate software solutions to improve the efficiency of their financial close, the final choice is often between BlackLine and FloQast. Both solutions help finance teams improve monthly and quarterly closes by [...]
How to Tell If You’ve Outgrown Your Accounting Firm
The success of your organization's relationship with its accounting firm depends on a variety of factors that can change as the organization goes through its development stages. As your needs change, it may become [...]
What is Biodiversity and How Does Business Come into Play?
Biodiversity is the variety of life on Earth, including species, ecosystems, and genetic diversity within species. It encompasses the diversity of plants, animals, and microorganisms, as well as the ecosystems they form and the [...]
Expressing Support for American Innovation and Jobs Act: Proposed Repeal of Section 174 and Expanding R&D Credits
On March 16, 2023, Sens. Maggie Hassan (NH), Todd Young (IN), and 10 others introduced Senate Bill 866, the "American Innovation and Jobs Act”. The proposal is designed to promote innovation and job growth [...]
Lease Reassessment and Remeasurement Requirements Under the ASC 842 Accounting Standard
Now that your company has transitioned to the ASC 842 Lease Accounting standard, what comes next? What do you do when the lease arrangement changes, or the facts and circumstances change after your initial [...]
Reporting Business-related T&E Expenses
Many companies have resumed some level of business-related travel and entertainment (T&E) activities — or they plan to do so. Unfortunately, these expense categories may be susceptible to incomplete recordkeeping and fraud. So, it’s [...]
Sensiba San Filippo Named 2023 Top 100 Firm by Accounting Today
(Pleasanton, CA) – (April 4th, 2023) – Sensiba San Filippo LLP (SSF), a leading U.S.-based accounting and business consulting firm, has been named a 2023 Top 100 Firm by Accounting Today. The magazine annually [...]
Addressing Common Real Estate Issues with Sage Intacct
Real estate issues are complicated and can bring challenges for property managers and real estate firms. Today, some of the most painstaking obstacles are sharing information with stakeholders, increasing portfolio value, improving tenant relations, [...]
New Capital Gains Tax Upheld in Washington State
Washington state’s Supreme Court ruled on March 24, 2023, that an excise tax on capital gains is constitutional and valid, reversing the lower court’s decision that the tax violated the State’s constitution. The state [...]
Data Visualization in Accounting and Auditing
Data Visualization in accounting and auditing has become increasingly important in recent years. Graphs, performance dashboards and other visual aids can help managers, investors and lenders digest complex financial information. Likewise, auditors use visual [...]
Demystifying Deferred Taxes
Deferred taxes are confusing and the accounting rules for reporting these items can seem illogical. Here’s a brief overview to help clarify matters. What are deferred taxes? Companies pay income tax on IRS-defined taxable [...]
Navigating the Pros and Cons of Last-In, First-Out (LIFO) Inventory Reporting
You have choices when it comes to reporting inventory costs. One popular technique — the last-in, first-out (LIFO) method — assumes that merchandise is sold in the reverse order it was acquired or produced. [...]
California Sales Tax Limited Access Code Phasing Out – Taxpayer Action May Be Required
As California’s Department of Tax and Fee Administration (CDTFA) begins phasing out Limited Access Codes and Express Logins on April 1, 2023, taxpayers will only be able to file timely returns with the CDTFA [...]
Tax Implications of Converting from a C Corp to an S Corp
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax [...]
Predicting Future Performance
CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. CPAs can help companies make informed decisions about their future performance to reach their [...]