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  • Cybersecurity matters

    Investors, lenders and other stakeholders have been vocal in recent years about pushing companies to provide more information in their financial reports about cybersecurity. Could your company do a better job disclosing cyberrisks and recent hacks? Most public companies could… Read More

  • Year-end Tax Planning for 2018

    The new Tax Cuts and Jobs Act law has made major changes in the tax rules for individuals and businesses. Here are some highlights that may affect you or your business.  Year- End Tax Planning Moves for Individuals Higher-income earners… Read More

  • When holiday gifts and parties are deductible or taxable

    The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find… Read More

  • 4 steps to auditing AP

    At most companies, the accounts payable (AP) department handles an enormous volume of transactions. So, the AP ledger may be prone to errors or used to bury fraudulent journal entries. How do auditors get a handle on AP? They use… Read More

  • Tax reform expands availability of cash accounting

    Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly… Read More

  • Why revenue matters in an audit

    For many companies, revenue is one of the largest financial statement accounts. It’s also highly susceptible to financial misstatement. When it comes to revenue, auditors customarily watch for fictitious transactions and premature recognition ploys. Here’s a look at some examples… Read More

  • It’s not too late: You can still set up a retirement plan for 2018

    If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to set one up and… Read More

  • A fresh look at percentage of completion accounting

    How do you report revenue and expenses from long-term contracts? Some companies that were required to use the percentage of completion method (PCM) under prior tax law may qualify for an exception that was expanded by the Tax Cuts and… Read More

  • Buy business assets before year end to reduce your 2018 tax liability

    The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end… Read More

  • LIFO lessons learned

    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. That is, it allocates the most… Read More