News & Resources

How to Compute Your Company’s Breakeven Point

  Breakeven analysis can be useful when investing in new equipment, launching a new product or analyzing the effects of a cost reduction plan. During the COVID-19 pandemic, however, many struggling companies are using it to evaluate how much longer

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Reporting Restricted Cash

  Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the current accounting guidance? The Basics Restricted cash is a separate category of “cash and cash equivalents” that isn’t available

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Financial Keys to Securing a Commercial Loan

  Does your business need a loan? Before contacting your bank, it’s important to gather all relevant financial information to prove your business is creditworthy. By anticipating information requests, you can expedite the application process and improve your chances of

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American Rescue Plan

  This week the Congress Budget Committee passed the American Rescue Plan, otherwise know as the Biden Administration’s $1.9 trillion stimulus bill. The House is expected to pass the bill tomorrow, and then it will move to the Senate. As

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Updated Current Expected Credit Loss Standard

  The Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, includes a variety of economic relief measures. One such measure allows certain banks and credit unions to temporarily postpone implementation of the controversial current expected credit loss (CECL)

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Forecasting for 2021

  Planning for what lies ahead is an important part of running a healthy business. Forecasting your company’s financial statements can help you manage inventory and other working capital accounts, offer competitive prices, identify impending cash flow shortages and keep

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Indiana Tax Reporting of PPP Funds and Expenses

  As mentioned in our January 18, 2021 blog posting titled, “State Conformity to CARES Act,” many states have not yet conformed or adopted the changes under the CARES Act or the Consolidated Appropriations Act 2021 (CAA). Indiana has “static”

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State Conformity to CARES ACT

  While more than 20 states automatically conform (also known as “rolling conformity”) to federal law changes, the remaining states have either “selective” conformity or “static” conformity where legislation is required to conform to Federal law changes. While the CARES

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Put Your Company’s Financial Statements to Work for You

It’s almost time for calendar-year businesses to prepare their year-end financial statements. If used correctly, these reports can be a valuable management tool. Use them in benchmarking and forecasting to be proactive, not reactive, to market changes. 1. Benchmarking Historical

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PPP Eligible Expenses Deductible

PPP ELIGIBLE EXPENSES DEDUCTIBLE The Consolidated Appropriations Act, 2021 is currently before the House and expected to pass tonight. The Act will then move to the Senate floor, where it is expected to pass and be sent to the President for signature.

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Year-End SWOT Analysis Can Uncover Risks

  As your company plans for the coming year, management should assess your strengths, weaknesses, opportunities and threats. A SWOT analysis identifies what you’re doing right (and wrong) and what outside forces could impact performance in a positive (or negative)

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