🖨 Print⏱ 4 min readModern business today is dominated by digital transactions and interactions. Businesses are increasingly storing customers’ personal information, which is potentially accessible without the customers’ knowledge or consent. Therefore, understanding the significance and implications of digital trust will help businesses foster it, as it is crucial for success. What is Digital Trust? … Continue reading “Importance of Fostering Digital Trust in Today’s Businesses”
🖨 Print⏱ 4 min readConsolidated Appropriations Act, 2024 (HR 4366) – On March 9, the president signed the latest appropriations bill passed in time to halt a government shutdown. While this bill does authorize funding through the end of the fiscal year (Sept. 30), it only addresses six of the 12 bills necessary to fully … Continue reading “Funding the Government, Protecting Americans from Misuse of Data, Expanding Internet Access and Improving Recycling”
🖨 Print⏱ 3 min readA trial balance is an accounting tool that helps businesses determine if the double entry accounting system has any mathematical errors. Once the trial balance is worked through, and the total debits and total credits equal each other, we know there are no mathematical errors – but that doesn’t mean it … Continue reading “Taking a Closer Look at Trial Balances”
🖨 Print⏱ 3 min readWhen it comes to any business, but especially for a start-up, it’s essential to determine how long a company can survive before it must declare bankruptcy and/or close its doors. The biggest metric, especially for a start-up, is to determine how much money a company has to keep its lights on. … Continue reading “Defining Burn Rate, Gross Burn and Net Burn”
🖨 Print⏱ 4 min readWhat started as Youth Financial Literacy Day some years ago is now a monthlong event: Financial Literacy Month. It all started in 2003 when some U.S. legislators got together and decided that we needed more days dedicated to this topic. So, what does that mean for us? Plenty. It’s one month … Continue reading “April is Financial Literacy Month: How Much Do You Know?”
🖨 Print⏱ 4 min read The U.S. Treasury recently enacted a new reporting requirement aimed at quashing illicit financial transactions. The agency believes that corporate anonymity is enabling money laundering, terrorism, and drug trafficking. As part of the 2021 Corporate Transparency Act (CTA), certain companies are now required to report information about their beneficial owners. … Continue reading “U.S. Beneficial Ownership Information Reporting Begins”
🖨 Print⏱ 4 min readIf you would like to donate artwork to an eligible charitable organization, you might be able to take a deduction on your tax return. However, the rules are complex. There are different requirements for different values, and there are scams you want to avoid that could lead to severe consequences for … Continue reading “What to Know About the Art Donation Deduction”
🖨 Print⏱ 4 min readTechnological advancements have ushered in a new era of cybercrime, with deepfakes and social engineering tactics at the forefront of fraudulent activities. CEO and CFO fraud has become increasingly widespread, posing significant threats to organizations worldwide. Understanding CEO and CFO Fraud CEO and CFO fraud involves cybercriminals impersonating executives to manipulate … Continue reading “Deepfakes and Social Engineering: The New Face of CEO and CFO Fraud”
🖨 Print⏱ 3 min readThe Emergency National Security Supplemental Appropriations Act (HR 815) – Formerly known as the RELIEVE Act, this bill was originally written to improve veteran eligibility for reimbursement for emergency treatment. However, the bill was altered to incorporate the Senate’s effort to combine new U.S. border policies with aid for wars abroad. … Continue reading “Debating U.S. Border Policies and Foreign Aid, Providing Tax Relief Before Tax Season, and Training More Nurses”
🖨 Print⏱ 4 min readAs the name implies, a contingent liability for a business does not always happen and depends on how the future unfolds. When it comes to a business analyzing a contingent liability, it focuses on the probability of the business realizing it, the time frame within which the liability might occur, and … Continue reading “Contingent Liability Defined”
