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HOW TO FORECAST SMARTER

Financial forecasting provides a roadmap to guide your organization on the path to success. Forecasts support strategic planning by helping you allocate resources efficiently, manage risks effectively and optimize capital investments. However, today’s dynamic marketplace is uncharted territory, so you cannot rely solely on historical data. Reliable forecasts also consider external market trends and professional […]

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FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines

On February 27, 2025, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and […]

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CORPORATE TRANSPARENCY ACT — BENEFICIAL OWNERSHIP INFORMATION REPORTING REQUIREMENT

The Corporate Transparency Act (CTA) requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from people who own or control a company. However, on Friday March 1, 2024, a U.S. District Court ruled the CTA unconstitutional in a case brought by the National Small Business Association (“NSBA”). Although unconstitutional, […]

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THE FUTURE OF ACCOUNTING: HOW TO EMBRACE CUTTING-EDGE TECHNOLOGY

Technology is transforming the accounting profession. When businesses moved from paper ledgers to spreadsheets, it improved the timeliness, accuracy and integrity of accounting-related data. Likewise, cloud computing and the ability to remotely access real-time data have allowed accounting departments to be far more responsive to an increasingly distributed workforce. Artificial intelligence (AI) is the latest […]

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WHY SOME SMALL BUSINESSES ARE SWITCHING TO TAX-BASIS REPORTING

Accrual-basis financial statements are considered by many to be the gold standard in financial reporting. But with the increasing cost and complexity of today’s accounting rules — in particular, the updated lease guidance that went into effect last year — some private companies are seeking a simpler alternative to U.S. Generally Accepted Accounting Principles (GAAP). […]

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