FASB approved new accounting alternatives for goodwill and intangible assets that can be elected by most privately held businesses. This article highlights (1) some of the changes allowed under the accounting alternatives, (2) areas in which companies may find cost savings, and (3) some of the potential issues with electing the alternatives.
Connected + Proactive + Accessible CPAs
Connections are the glue that builds lasting and successful business relationships. It’s about providing you ongoing guidance that comes from an in-depth understanding of your direction and financial goals. To us, a proactive approach means more than making suggestions. It’s about ongoing communication, timeliness, accuracy and an educational experience that provides you with tools, knowledge and support to drive profitable growth. It’s about a team of accessible professionals and CPAs ready to help you understand the financial outcomes of big decisions or mobilize for opportunities. Learn More
Latest News + Insights
Accurate financial statements and tax returns are both important, but they only tell a story of your business as it was – not where it could be going. What most business owners tell me they really need is a combination of big-picture strategic thinking combined with detailed financial expertise.
There are many times when I have a client call and say “I have a strong bottom line, but I don’t have the cash to pay taxes on it, or where is all my cash then?” Bottom line isn’t equivalent to cash flow, and there are a number of preventable deficiencies that you can address which can help stop your cash flow from going down the drain.
Maximizing profit and opportunity begins with assembling the right team of experienced advisors who understand the manufacturing business.
Just like their patients, healthcare leaders, administrators and shareholders need the reliable advice of specialized professionals to make important decisions.
Operating quick-service restaurant, retail or service businesses require accurate and timely financial reporting to comply with your franchise agreement, as well as provide insight for profitable growth.