Race to the Bottom
Currently, California is ranked 48th out of the fifty states for tax friendliness by the non-profit Tax Foundation. New Jersey and New York are the only two states that have higher tax burdens on their residents than we do.
What to look for in a business valuation under Corporations Code 2000
Typically, a minority shareholder has very limited rights regarding the operations of a company. There are a multitude of reasons why shareholders can disagree, including differing visions of strategy, financial issues or simply personality differences that can influence business valuation. Outside of an existing buy-sell agreement, the California Corporations Code provides the procedures for both [...]
Internal Controls over Cash for Small Businesses and Not-For-Profits
Whether your organization is a not-for-profit or a small business, cash is one of your most valuable assets. It should be safeguarded by establishing internal controls to prevent fraud and identify errors. However, in small organizations, this may be a challenge due to limited resources for the following reasons: Hiring employees with the appropriate skillsets [...]
Accounting Method Guidelines Compliments Of The IRS
Some people view the IRS as a blood-sucking ogre intent on harassing businesses. Perhaps that’s the reason why the saying, “if something can be taxed, it is taxed” rings true for so many business owners and managers. Even in a relatively small business with just a few employees, one accountant can keep busy filing [...]
How Businesses Should Account for Liabilities
Nobody likes debt, but it’s often an inevitable part of a company keeping its doors open for business. In this post, we’ll cover how businesses should account for liabilities. We’ll provide the two types of liabilities most businesses incur, along with three examples -- and we’ll show you how a business should account for them. [...]
Measuring The Value Of Cost Accounting For Manufacturing Companies
In order to control internal operations and make sound business decisions on behalf of their business, managers need pertinent information on which to base their decisions. When it comes to manufacturing, most organizations use complex accounting and data systems to manage inventory and track raw materials, production, labor hours, maintenance and repairs, storeroom supplies and [...]
How To Measure Business Success Using the Balanced Scorecard Model
Many businesses (as well as tax professionals) are very good at compiling financial information. Most have decent systems in place to gather, compile, and summarize the financial information collected. Yet, many times, unfortunately, it is the only set of metrics that organizations use to determine their success. Finance is only one piece of the story [...]