🖨 Print⏱ 4 min readAccording to a 2022 Allied Market Research report, the size of the global forensic accounting market is forecast to increase in value to $11.68 billion in 2031, up from its 2021 estimated value of $5.13 billion. Allied Market Research puts this compound annual growth rate at nearly 9 percent (8.8 percent). … Continue reading “Delving Into Forensic Accounting”
🖨 Print⏱ 4 min readAccording to the Federal Register, there were about 90,000 local and state government entities throughout the country in 2022. This number is comprised of towns, counties, cities, special districts, and independent school districts. One of the commonalities these organizations share is their use of modified accrual accounting. Understanding the Differences Between … Continue reading “Understanding Modified Accrual Accounting”
🖨 Print⏱ 3 min readRelating to a national emergency declared by the President on March 13, 2020 (HJ Res 7) – On March 13, 2020, then-President Trump declared a national emergency relating to the COVID-19 pandemic. Since then, emergency status has continued until the passage of this resolution. The national emergency status relaxed many healthcare … Continue reading “Shoring Up Services for Veterans, Energy Production and Cybersecurity Risks”
🖨 Print⏱ 4 min readThe internet keeps evolving. It started with static web pages in Web 1.0 before evolving to interactive and dynamic content in Web 2.0. A new phase of technology is now introducing Web 3.0, or the third generation of The World Wide Web. Although it is a work in progress, it is … Continue reading “What Is Web 3.0? Understanding The Next Generation of the Internet”
🖨 Print⏱ 4 min readNow that spring is here, it might be a great time to give your finances a fresh look. Here are a few key items to put on your May to-do list. Say Bye-Bye to PMI If you bought your home for less than 20 percent down, there’s a good chance you’ve … Continue reading “Financial Tasks to Tackle in the Month of May”
🖨 Print⏱ 4 min readEstate and inheritance (“death”) taxes are levied on the transfer of property at death. The difference between an estate tax and an inheritance tax is based on who pays the bill. An estate tax is levied on the estate of the deceased, while an inheritance tax is levied on the heirs … Continue reading “Estate Taxes vs. Inheritance Taxes: Understanding the Differences”
🖨 Print⏱ 4 min readWhen it comes to businesses looking to mitigate risk, one concept that’s important to explore is reproduction costs. The first step is to distinguish between reproduction and replacement costs. Replacement cost refers to how much it would cost a company to replace an asset that will duplicate the performance of the … Continue reading “Defining and Understanding Reproduction Costs”
🖨 Print⏱ 3 min readSo, you filed and paid all your taxes on the money you earned in 2021. Now, the company you work for finds itself in trouble, and you are forced to pay back part of your compensation. The big question is, will the IRS refund you for the taxes you already paid … Continue reading “I Needed to Repay Part of My Compensation; Will I Get a Refund on My Taxes?”
🖨 Print⏱ 3 min readLiquidity refers to a business’s ability to convert its short-term assets or securities into cash quickly to meet its short-term financial obligations or pay bills due within the next 12 months. Naturally, cash is the most liquid. This is different than solvency, which refers to the ability of a business to … Continue reading “How to Look at Liquidity through an Accounting Lens”
🖨 Print⏱ 3 min readBlockchain has the promise to revolutionize the way businesses and their accountants keep track of their financial records. When it comes to audit evidence, blockchain may be able to give organizations more efficient ways to bring financial data into universal conformity; help businesses present relevant financial data in an open manner; … Continue reading “How Blockchain Could Impact Accounting and Auditing”
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