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How auditors evaluate key person risks

How auditors evaluate key person risks

From technical know-how to charisma and innovation, the skills and personal attributes of a company’s leaders are often critical to its success. But those same traits can become a source of risk if the business relies too heavily on its founder or another...
How activity-based costing can improve business performance

How activity-based costing can improve business performance

Your income statement indicates whether your business is profitable — but it doesn’t always explain why. For many small businesses, traditional cost accounting can mask where time and money are really being spent. Activity-based costing offers a practical way to...
Avoiding inadvertent S corp termination

Avoiding inadvertent S corp termination

S corporation structure provides most of the tax benefits of a partnership plus the liability protection of a corporation. But because of the strict requirements that apply to these entities, preserving S corporation status requires due diligence. Reap the...
Change orders require careful accounting

Change orders require careful accounting

If your business does contract-based work, you know that change orders are a fact of life. This holds true regardless of whether you provide construction, engineering, information technology, manufacturing or other custom services. Although change orders are...