The IRS is warning people to be aware of fraud connected with Hurricane Sandy. As is usually the case following a natural disaster, scam artists are impersonating charities to get money or financial information from those wanting to help victims of the storm.

The figures on an income statement report the sales, expenses, and net profit or loss of a business. But these figures can be helpful in another way. They can be used to compute the breakeven point for the business. Knowing your breakeven point can help you run your operations more efficiently and profitably. Simply put, [...]

Buying rare and precious coins can be an exciting hobby and, for some, a lucrative investment. Unfortunately, it's also a business that's rife with potential for con artists. As always, it's wise to proceed with caution. Following a few simple guidelines can offer protection from unethical sellers. Read more.

You’ve done your part. The job is complete, your customer is satisfied -- but a month has gone by, and your invoice is still outstanding. You’d like to work with the customer in the future. So how do you get your money without losing the customer?

Have you started a business and are wondering what accounting method (cash or accrual) is best for you to use?  Do you find yourself with annual debate if you should switch accounting methods? Or do you have different accounting methods you use for financial reporting vs. tax reporting? The two main methods of record keeping [...]

Ever wonder how the seemingly perfect company with great employees ends up finding fraud occurring within their organization?  There are 3 key items when investigating fraud that are common to all frauds: Pressure/Incentive Opportunity Rationalization These three items are known in professional literature as the "Fraud Triangle" Pressure or incentive for fraud is really the [...]

In the past few years there have been constant stories in the news of frauds occurring in businesses.  I am sure many that come to your mind immediately are Enron, WorldCom, Tom Petters, Denny Hecker and many more.  What you often don't see in the media are the frauds that are occurring in small businesses [...]