Think only big companies have a problem with internal fraud? Think again! According to a recent report form the Association of Certified Fraud Examiners, businesses with fewer than 100 employees account for almost 30% of internal fraud cases. Small business owners don’t always have the time or knowledge to properly design internal controls, and often...
An “age wave” is hurtling toward our economy like a tsunami building strength before it hits land – but land it will, and it will affect small business owners, especially “Boomers,” for decades. Many in this generation are already looking to “exit” their businesses after years of building their entities, providing for their families, and...
The Financial Accounting Standards Board announced plans to delay the effective date for the new standard on accounting for leases for certain entities. This is great news for private companies, non-profit organizations, and smaller reporting companies lagging in adoption of the leasing standard updates. It seems FASB underestimated the time and resources needed for tracking...
Document retention needs a system whether paper or digital. Storing financial records electronically is one of the only ways keeping them indefinitely seems realistic. But do you have to? Large corporations may have limitless storage capacity on servers and in the cloud, but what about individuals and small businesses that do not? Some folks still...
Has your son or daughter gotten their diploma but not a job? Has your spouse recently lost their position due to a merger and offered to work in the family business? Has a parent recently retired and expressed an interest in part-time employment? One of the advantages of operating your own business is hiring family...
