Jul 27 Money Jars for Mental Accounting
Investors and consumers can follow some basic guidelines to avoid the traps of mental accounting. You can train yourself to think more rationally about your money and spending patterns....
Aug 10 Lease Accounting Standards Update
ASC 842 impacts all entities that lease property, plant or equipment and report under GAAP On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update, ASU 2016-02, Leases (ASC 842). For non-public entities, ASC 842 is effective for fiscal years beginning...
Jun 29 KRS CPAs Named Among 2022 NJBIZ Best Places to Work
We’re on the list again! For the 11th year, we’ve received the NJBIZ Best Places to Work in New Jersey Award for companies with 15-49 employees. “We have a strong team environment, where managers spend time with junior staff, guiding them through different processes. We also...
Sep 28 Accounting Concerns for Legal Marijuana Business Operations
Accounting for the growing cannabis industry is unique. Business owners must comply with strict state and federal regulations to avoid substantial penalties or even the risk of losing their business.
The potential for large cash transactions and banking restrictions common in the industry further emphasize the...
Aug 02 How to Read and Understand the Balance Sheet
The balance sheet is a standard financial report that is often included with a business’ financial statements. It is easy for business owners to understand the profit and loss statement (P&L), which provides business revenues and expenses for a given period. The balance sheet, however,...
Mar 20 Is Your Accountant More than Your Trusted Advisor?
Managing partner Maria Rollins was a guest on the Accounting Success podcast, speaking on the topic, “How Successful Accountants Serve Their Clients.” In this session excerpt, host Ian Welham and Maria discuss what it means as a CPA to be more than a trusted advisor....
Nov 11 Is your small business prepared for the new employment tax filing deadline?
In an effort to combat fraud, the Protecting Americans from Tax Hikes (PATH) Act of 2015 was enacted. It revises the filing deadline for Form W-2 and certain types of Form 1099. Without proper planning, these revisions can cause some real stress for small businesses....
Oct 24 Tax Planning Strategies – Minimizing 2016 Individual Income Taxes
It is never too early to get a jump start on tax planning. Why not start now and minimize end of the year holiday stress? These four tax strategies could help reduce 2016 taxes....
Sep 30 What Drives SMBs’ Accounting Software Purchases?
SMB Accounting Trends Buyer Report – 2016 provides excellent insights into what business owners should look for when considering buying an accounting software system. Here's what you need to know from the report....
Sep 12 Is Your Business Ready for 2017?
As we approach the end of the third quarter, it is time to review your 2016 budgets and projections and compare them to the actual operating results. Is the business ahead of or trailing the projections? What parts of the business performed well...
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