accounting

Reading Time: 1 minute The five-step approach to revenue recognition introduced with Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASC 606) has gone into effect and will be significantly...

Reading Time: minute   In recent years, business owners have faced higher expectations regarding financial transparency and government compliance. Many growing businesses struggle to create a well-tuned accounting...

Reading Time: 2 minute Construction industry companies often rely on leasing as a source of financing for equipment and vehicles. Leasing provides access to these expensive assets without the immediate cashflow hit that...

Reading Time: 2 minute What Is the Employee Retention Credit & How to Claim It For 2021 The employee retention credit (ERC) was first introduced with the CARES Act in 2020, and subsequent tax bills have made the credit...

Reading Time: 2 minute   Recordkeeping is one of your most important responsibilities as a business owner, and success depends on creating and maintaining an effective system. Recordkeeping systems range from simple folder...

Reading Time: 2 minute Sound accounting systems and practices are essential tools for managing any construction business. Given the uncertainty in the construction industry, it is imperative to monitor job performance,...

Reading Time: 3 minute   Understanding the Accounting basics of Professional Service Firms Accounting can be complicated and is a crucial component of a firm's operations, regardless of its size. Many growing professional...

Reading Time: 3 minute Good accounting practices are an important tool for managing a manufacturing business. Given the industry's uncertainty, it is crucial to fine-tune financial statements for users of them to review...