It’s almost time for a midyear checkup on your company’s financial health Image
It’s almost time for a midyear checkup on your company’s financial health

Time flies when you’re busy running a business. It’s important to pause at midyear and assess interim fin...

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5/30/2024
Why it’s important to get your company’s financials done on time Image
Why it’s important to get your company’s financials done on time

Timeliness counts in financial reporting. Here’s why it pays to issue your company’s financial statements...

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2/29/2024
Best practices for M&A due diligence Image
Best practices for M&A due diligence

Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a ...

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2/20/2024
6 tips to improve job-costing systems Image
6 tips to improve job-costing systems

Is your company’s job-costing system accurate and user friendly? Tracking costs can help identify which project...

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1/11/2024
The IRS warns businesses about ERTC scams Image
The IRS warns businesses about ERTC scams

Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you...

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9/12/2023
FASB votes to exempt private companies from disaggregation of income statement project Image
FASB votes to exempt private companies from disaggregation of income statement project

As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB&rsqu...

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6/1/2023
How to use QuickBooks as a fraud detection tool Image
How to use QuickBooks as a fraud detection tool

Many organizations use QuickBooks for everyday accounting tasks. But did you know that this software can also functio...

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5/11/2023
How to get more from your company’s income statement Image
How to get more from your company’s income statement

Financial reporting is more than an exercise in compliance. Proactive owners and managers view their income statement...

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4/6/2023
Going green could save greenbacks and more Image
Going green could save greenbacks and more

Has the start of spring piqued your interest in green business practices? Eco-friendly initiatives can be good for th...

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4/4/2023
Common accounting pitfalls for startups to avoid Image
Common accounting pitfalls for startups to avoid

Entrepreneurs often invest blood, sweat and tears to start new businesses. But few are experts in financial reporting...

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2/9/2023
Pick the right accounting method for your business Image
Pick the right accounting method for your business

Has your accounting method kept up with your financial needs? It periodically makes sense to evaluate how you’r...

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1/12/2023
New accounting rules for supplier finance programs Image
New accounting rules for supplier finance programs

Newly issued rules on how to report supplier finance programs will provide critical information on the financial heal...

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11/17/2022
FASB proposes last-minute changes to lease accounting rules Image
FASB proposes last-minute changes to lease accounting rules

New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases contin...

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10/13/2022
Rolling Forecasts Provide Flexibility in Uncertain Times Image
Rolling Forecasts Provide Flexibility in Uncertain Times

Has your business forecast its goals for next year? The pandemic has shed light on the shortcomings of static year-en...

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12/21/2021
What’s the Point of Asset Protection? Image
What’s the Point of Asset Protection?

As a successful business owner, it's essential to know the reason behind why you're protecting your business and...

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9/22/2021
Guiding Your Wealth to Where You Want It to Go Image
Guiding Your Wealth to Where You Want It to Go

You may know where you want your money to go when you die, but let's take a look at how to plan and strategize your w...

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6/2/2021
Assessing and Mitigating Key Person Risks Image
Assessing and Mitigating Key Person Risks

Is the success of your business tied to certain “key” people? Many startups, professional service firms a...

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3/16/2021
New Law Provides Option to Delay Implementing the Updated CECL Standard Image
New Law Provides Option to Delay Implementing the Updated CECL Standard

The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic...

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3/9/2021
Don’t Make Decisions Without Data Analytics Image
Don’t Make Decisions Without Data Analytics

Data analytics can help your nonprofit validate trends, uncover root causes and improve transparency. But before you ...

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3/2/2021
Avoiding Conflicts of Interest with Auditors Image
Avoiding Conflicts of Interest with Auditors

Before audit season starts, consider how a conflict of interest could negatively impact your financial statements.

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11/25/2020
Internal Audits Still Matter Image
Internal Audits Still Matter

Internal auditors can provide assurance that a nonprofit’s internal controls are effective at minimizing risk, ...

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11/9/2020
Gifts in Kind: New Reporting Requirements for Nonprofits Image
Gifts in Kind: New Reporting Requirements for Nonprofits

Unscrupulous nonprofits sometimes use “gifts in kind” to mislead donors and boost their ratings. New acco...

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10/28/2020
What To Do When The Audit Ends Image
What To Do When The Audit Ends

Just because your nonprofit’s financial audit has ended doesn’t mean your work is done. Learn what's next...

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9/28/2020
On-Time Financial Reporting is Key in Times of Crisis Image
On-Time Financial Reporting is Key in Times of Crisis

Who cares if your financial statements are late? Lenders and investors, that's who. Procrastination may cause them to...

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9/22/2020
Levels of Assurance: Choosing the Right Option for Your Business Today Image
Levels of Assurance: Choosing the Right Option for Your Business Today

Here are some key factors to consider when evaluating your company’s current level of assurance.

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8/31/2020
Forecasting Financial Results for a Start-Up Business Image
Forecasting Financial Results for a Start-Up Business

Today’s markets are unpredictable, but changing conditions can open new business opportunities.

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8/13/2020
External Audits Offer Many Benefits to Nonprofits Image
External Audits Offer Many Benefits to Nonprofits

Even if your nonprofit isn’t required to have an external audit, there are many good reasons to obtain this add...

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7/20/2020
Where Transferable Value Comes From

One of the most important elements of a successful business transition is transferable value. No matter what an owner...

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6/18/2020
CARES Act: Funding and Employment Retention Provisions Image
CARES Act: Funding and Employment Retention Provisions

CARES Act - Funding and Employment Retention Provisions

Consequences of COVID-19 - Financial Reporting Considerations Image
Consequences of COVID-19 - Financial Reporting Considerations

The AICPA released financial reporting considerations related to COVID-19.

Prepare For New Lease Accounting

New accounting rules for reporting leases finally goes into effect in 2019 for public companies and 2020 for nonpubli...

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9/25/2018
Uniform Guidance Procurement - What is the Effect of the New Requirements?

Under the new requirements of the Uniform Guidance (UG), procurement standards were modified to implement stricter re...

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8/7/2016
757 Angels Inc., Launches

757 Angels Inc., an initiative of Reinvent Hampton Roads, launched last week after more than a year of planning. 757 ...

Understanding Small Business Certification Image
Understanding Small Business Certification

As companies vie for their share of federal funds in a competitive market, many are weighing the benefits of a small ...

Six Tips to Nip Pilfering in the Bud

If your nonprofit operates a second-hand store, gift shop or other retail venture, you should be on the lookout for t...

Legislative Update from the General Assembly

On January 9th, 2013, the 46-day-long General Assembly session opened and, as in previous years, the VRF lobby team h...

Understanding The DCAA Audit Process Image
Understanding The DCAA Audit Process

As a contractor doing business with the federal government it is important to be familiar with the ever changing regu...

Due Diligence: How to Avoid Surprises When Acquiring a Manufacturing Company

Due diligence is one of the most critical stages in the process of purchasing a business. Some buyers incorrectly ass...

Three Steps Fix ‘Profit Fade’

Many construction companies suffer from a disabling condition called “profit fade.” It occurs when a cont...