Financial Ratios for Small Businesses Financial ratios are tools that businesses can use to assist in achieving their goals. They help a business focus on its financial health. If used properly, financial ratios can pinpoint areas that need development. As…
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The Ins and Outs of Government Contracting What is Government Contracting? Government contracting refers to the process through which the government procures goods, services, or projects from private sector businesses. It allows the government to obtain the necessary resources to…
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What You Need to Know About DCAA and FAR Compliance DCAA stands for Defense Contract Audit Agency, while FAR stands for Federal Acquisition Regulation. Both DCAA and FAR are critical components of government contracting, and compliance with them is necessary…
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Financial Ratios As a business owner financial data is something you have become all too familiar with. Every month you take the necessary steps to ensure your financial data is current and accurate. First, you enter the data entry into…
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Are CPA’s Solely Tax Gurus? Certified Public Accountants (CPA) are highly trained people, specializing in accounting. They took the time to earn a professional designation by meeting several requirements. The conditions they met include passing the CPA exam, their level…
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How Accounting Plays a Role in Strategic Planning As the business world changes, so too must the accountant’s role. Accounting plays a crucial role in strategic planning as it helps organizations make informed decisions based on financial data and insights….
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Who Needs an Incurred Cost Submission? It is a few weeks into the new year, and you finally feel like you can breathe again. Your business’ financial statements are done, and your taxes are in progress. For the foreseeable future,…
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Are Employee Gifts Taxable? As a business owner, giving employees gifts and other fringe benefits is something that you are familiar with. Every year you may like to give holiday bonuses or give a gift to each employee on their…
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Employee Retention Credit Over the last few years, the COVID-19 pandemic did not discriminate against the businesses it has affected. Whether large or small, businesses were forced to reduce their operations. In some cases, they had to shut down completely….
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Key Performance Indicators Key performance indicators (KPIs) are performance measurements that determine how well a business is achieving its objectives. KPIs evaluate the success of a business and they often differ amongst industries. They help to determine a business’ strategic,…
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