Working capital is the difference between a company’s current assets and its current liabilities. Current assets include cash, inventory, receivables, and other assets which are expected to be turned into cash within one (1) year. Current liabilities include accounts payable, loans…
Read More
Accounting Firm: Finding The One
Each year, as your business grows, management of accounting tasks gets trickier. Business priorities shift, whether due to outside factors or your own needs. Sometimes, it can feel like a great weight to handle everything on your own. When this…
Read MoreAccrual Accounting Vs. Cash
Cash vs Accrual Accounting You have finally taken the leap and started the business you have always dreamt about. However, now you must make one more tough decision: what accounting method should your business follow: cash or accrual accounting? Accounting…
Read MoreAre Legal Costs Allowable or Unallowable for Government Contractors?
Are Legal Costs Allowable or Unallowable for Government Contractors? One of the most ambiguous things that a government contractor or their accountant has to deal with when making accounting entries is the allowability of legal fees and costs. The rules regarding…
Read MoreEnd of the Year Accounting Checklist
One of the things that you will need to do for your business at the end of the year is to close the books. If they have been kept up with the accounting practices throughout the preceding months, this shouldn’t be too…
Read MoreHow to Survive an Audit
Just the idea of being audited by the IRS strikes fear into the hearts of most small business owners. Some peace of mind should be found in the fact that audits are pretty rare for one simple reason: money. The…
Read MoreTechnologyChanged Accounting
The accounting industry has changed dramatically over time with advances in technology. While we may immediately think of the computer, the first real improvements in accounting technology took place several decades ago when numbers no longer needed to be added by hand. After…
Read More5 Myths About the Value of Your Business
Owning a business is hard work and it’s common for business owners to wonder how much their company is worth. Whether you are thinking about selling your business or not, have an offer on the table or are merely curious,…
Read More5 Things Your Forensic Advisory Team Should Know
Forensic accountants require unique skills and training in order to blend accounting, auditing, and investigative skills to uncover and analyze financial data. In addition, to uncovering fraud, forensic accountants provide litigation support in a courtroom setting. If you are a…
Read MorePublic Relations & Advertising Costs – Allowable or Unallowable?
Many companies incur advertising and public relations costs. For the government contractor, the complication comes in determining whether these costs are allowable under the Federal Acquisition Regulations (FAR). The basic rule of thumb is if it is related to benefiting the government,…
Read More