How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count is essential at year end. For calendar-year entities, year end is fast approaching on December 31. Planning Tips Though
Strategic investments — such as expanding a plant, purchasing a major piece of equipment or introducing a new product line — can add long-term value. But management shouldn’t base these decisions on gut instinct. A comprehensive, formal analysis can
The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s annual report. After all, a business that reports positive net income on its
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
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
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need to be reported under the
Timely, relevant financial data is critical to managing a business in today’s unprecedented conditions. Similar to the control panel in a vehicle or machine, dashboard reports provide a real-time snapshot of how your business is performing. Why You Need a
Family-Owned Logistics Company Plans Major Indiana Expansion Per the Indiana Economic Development Corporation (IEDC) – On July 21, 2020, Governor Eric Holcomb and Indianapolis Mayor Joe Hogsett joined executives from Palmer Trucks, a third generation, family-owned truck sales, parts and service
Applications for the Manufacturing Readiness Grant program, which Governor Eric J. Holcomb and the Indiana Economic Development Corporation (IEDC) first announced in May, are now open to Indiana manufacturers across the state. The Manufacturing Readiness Grants, administered by the IEDC
The State of Indiana is making a concentrated effort to provide funds to employers and potential employees to educate and upskill Hoosiers. Two million Hoosiers need additional training to compete in the workforce which projects there being over 1 million
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to
The year 2019 was a great time to be a growing Hoosier company. This week, the Indiana Economic Development Corporation (IEDC) announced Indiana jobs hit record numbers. Governor Holcomb announced in 2019, 296 companies received tax credits and training
Somerset CPAs and Advisors is now part of CBIZ and MHM. Together, CBIZ and MHM are one of the Top Ten accounting providers in the country. Please click here for more information.
