5 reasons to outsource your bookkeeping

Running a closely held business is challenging. Owners usually prioritize core business operations — such as managing employees, serving customers and bringing in new sales — over tedious bookkeeping tasks. Plus, the accounting rules can be overwhelming. However, access to timely, accurate financial data is critical to your business’s success. Could outsourcing bookkeeping tasks to [...]

By |2024-11-05T13:48:55-06:00November 5th, 2024|Accounting & Auditing Resources|

CFOs need more than accounting skills

Is your company planning to hire a new CFO? A recent survey found that hiring managers look for more than financial acumen when vetting CFO candidates. In fact, only 38.5% of CFOs at Fortune 500 and S&P 500 companies were licensed CPAs in 2023, according to executive recruiting firm Crist Kolder. What other skills may [...]

By |2024-10-24T11:47:59-05:00October 24th, 2024|Accounting & Auditing Resources|

Bookkeeping provides a solid foundation for financial reporting

There are currently more than 33 million small businesses in the United States, according to the U.S. Chamber of Commerce. To succeed in today’s competitive markets, it’s essential for your business organization to have accurate books and records.  Bookkeeping vs. accounting For starters, you should understand the distinction between bookkeeping and accounting. Bookkeeping refers to [...]

By |2024-10-09T12:19:18-05:00October 9th, 2024|Accounting & Auditing Resources|

Auditing warehouse operations

When you hear the word “audit,” you might automatically associate it with financial reporting or the IRS. But auditing warehouse operations might also be beneficial for some businesses, such as manufacturers, distributors and retailers. Awkward or repetitive movements by employees, oversized packages and disorganized layouts can slow down productivity and even lead to medical and [...]

By |2024-09-27T14:21:47-05:00September 27th, 2024|Accounting & Auditing Resources|

Auditing warehouse operations

When you hear the word “audit,” you might automatically associate it with financial reporting or the IRS. But auditing warehouse operations might also be beneficial for some businesses, such as manufacturers, distributors and retailers. Awkward or repetitive movements by employees, oversized packages and disorganized layouts can slow down productivity and even lead to medical and [...]

By |2024-09-11T12:32:27-05:00September 11th, 2024|Accounting & Auditing Resources|

Auditing warehouse operations

When you hear the word “audit,” you might automatically associate it with financial reporting or the IRS. But auditing warehouse operations might also be beneficial for some businesses, such as manufacturers, distributors and retailers. Awkward or repetitive movements by employees, oversized packages and disorganized layouts can slow down productivity and even lead to medical and [...]

By |2024-09-03T10:22:07-05:00September 3rd, 2024|Accounting & Auditing Resources|

Best practices for expense reporting

Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. 1. Commingled bank accounts It’s important to maintain a separate dedicated bank account for business transactions. [...]

By |2024-08-15T10:24:57-05:00August 15th, 2024|Accounting & Auditing Resources|

Best practices for expense reporting

It usually takes between two and six weeks for management to prepare financial statements that comply with the accounting rules. The process takes longer if an outside accountant reviews or audits your reports. Timely information is critical to making informed business decisions and pivoting as needed if results fall short of expectations. That’s why proactive [...]

By |2024-08-06T12:59:51-05:00August 6th, 2024|Accounting & Auditing Resources|

Best practices for expense reporting

Accurate financial statements are essential to making informed business decisions. So, managers and other stakeholders may express concern when a company restates its financial results. Before jumping to premature conclusions, however, it’s important to dig deeper to evaluate what happened. Uptick in restatements In June 2024, the Center for Audit Quality (CAQ) reported a recent [...]

By |2024-07-30T09:21:24-05:00July 30th, 2024|Accounting & Auditing Resources|

6 tips for lowering energy costs to boost profits

When it comes to expense reporting, having rigorous financial controls is critical to operating a profitable business. You should monitor expenditures incurred by employees on behalf of the company. This enables your organization to track spending, control costs and maintain accurate financial records. Establishing and adhering to strong policies, using technology correctly and complying with [...]

By |2024-06-27T10:02:35-05:00June 27th, 2024|Accounting & Auditing Resources|
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