November 14 , 2018 | Posted by Karen Keller |

Compilation, Review or Audit: Select the Right Level of Assurance

The term “assurance” refers to how much confidence lenders and other stakeholders have that a company’s financial statements will be reliable, informative and in conformity with U.S. Generally Accepted Accounting Principles (GAAP) or another financial reporting framework. Higher levels of assurance require more in-depth procedures performed by the CPA when evaluating a company’s financial statements.…

July 12 , 2018 | Posted by John Eberhart |

Combining Liquidity and Efficiency Metrics

Cash conversion cycle can be a useful management tool

How long does it take your company to convert raw materials to cash collected from customers? The cash conversion cycle is a financial metric that answers this critical question. Here’s a closer look into how it’s calculated and what it means.

Liquidity vs. turnover

Liquidity ratios…

July 17 , 2017 | Posted by Karen Keller |

Use Management Letters to Improve Your Business

Audited financial statements typically come with a surprise bonus that you might not be aware of: the management letter. Take a few minutes to review this letter. It generally contains advice on ways to make your business more efficient and profitable — and less risky.

What’s required

Auditing standards require auditors to communicate in…

July 7 , 2015 | Posted by John Eberhart |

DOL Releases Study on Employee Benefit Plan Audit Deficiencies

In May 2015, the U.S. Department of Labor (DOL), Office of the Chief Accountant and Employee Benefits Security Administration (EBSA) completed a study of the quality of audit work performed by independent qualified public accountants with respect to audits of employee benefit plans (EBPs) covered under the Employee Retirement Income Security Act of 1974 (ERISA).

November 20 , 2014 | Posted by John Eberhart |

Discount for Lack of Marketability Bounces Back

One week after a New York trial court issued a contentious ruling that KO’d Discount for Lack of Marketability (DLOM) in Zelouf, a different court pronounced on the issue in another pot-stirring fair value proceeding that featured an “extremely successful company,” extremely contentious business partners, and extremely well-known valuators.

The successful company is…

July 29 , 2014 | Posted by John Eberhart |

Cash Flow 101 – What You Need to Know About Business Cash Flow

As business owners, we all know it’s true: Cash is king….without it, your business couldn’t survive.! You need cash to operate and grow your business. How else will you ensure you’re able to purchase supplies, pay your rent, advertise, hire employees or take care of the myriad other business activities that require cash and cash…

July 25 , 2014 | Posted by Brian Stautberg |

Ohio Passes Budget Providing Additional Tax Relief

In late June, Governor Kasich approved House Bill 483 that includes additional tax reductions to build on tax cuts already enacted in previous years. These cuts, emerging from the governor’s Mid-Biennium Review, were possible because of Ohio’s improving economy which is generating stronger than expected state revenue. Those revenues, along with greater efficiencies enacted to…