Fight corporate corruption with robust accounting systems

Financial losses from corruption are on the rise, according to “Occupational Fraud 2024: A Report to the Nations,” published by the Association of Certified Fraud Examiners (ACFE). Nearly half the cases in the latest version of this report involved corruption. Even more alarming is the finding that the median loss for corruption cases grew by […]

Ratio rundown: Use financial benchmarking to unlock profitability, efficiency and growth

Financial statements tell a powerful story about your business. However, they can seem like an overwhelming collection of figures without proper analysis. Financial benchmarking studies can help you identify historical trends, pinpoint areas for improvement and forecast future performance with greater confidence. Gauging profitability Profitability ratios help evaluate how effectively a company generates profits from […]

6 practical tips to lower business travel expenses

Travel remains a critical expense for many businesses, whether for client meetings, networking, industry conferences or sales opportunities. However, travel and entertainment (T&E) costs can quickly spiral out of control, cutting into profits. Consider taking these six proactive measures to keep T&E costs in check. 1. Set clear travel policies A formal, written T&E policy […]

Harness the power of QuickBooks for your business

Accurate financial records help business owners manage cash flow, tax obligations and strategic planning. QuickBooks® is one of the most widely used bookkeeping software solutions for small and midsize businesses, offering a comprehensive suite of tools designed to simplify financial management and support business growth. Why QuickBooks stands out QuickBooks offers several advantages over other […]

FAQs about reporting subsequent events

Subsequent events are in the spotlight these days. The Public Company Accounting Oversight Board (PCAOB) recently initiated a project to modernize outdated auditing standards related to these events. The PCAOB says the audit guidance hasn’t kept pace with changes in financial reporting frameworks, risk assessment methodologies and technological advancements. This has resulted in inconsistencies in […]

Tackling risk management with a proactive approach

Risks are unavoidable in today’s volatile, uncertain marketplace. However, proactive owners and executives can manage business risks more effectively with an enterprise risk management (ERM) framework. A structured approach helps organizations anticipate risks, seize opportunities and build resilience. Think holistically, not reactively ERM goes beyond simply identifying risks — it’s a comprehensive, enterprise-wide process. Internal […]

7 common M&A due diligence pitfalls

In 2025, global merger and acquisition (M&A) volume is expected to surge to the highest level in four years, according to Reuters. M&As require thorough due diligence to minimize risks and maximize long-term value. Some business combinations fail to achieve expected results due to financial missteps, overlooked liabilities and integration challenges. Here’s an overview of […]

How to forecast smarter

Financial forecasting provides a roadmap to guide your organization on the path to success. Forecasts support strategic planning by helping you allocate resources efficiently, manage risks effectively and optimize capital investments. However, today’s dynamic marketplace is uncharted territory, so you can’t rely solely on historical data. Reliable forecasts also consider external market trends and professional […]

SEC reverses course on crypto accounting

On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) No. 122, reversing its controversial 2022 guidance to safeguard crypto-asset holdings. This reversal comes amidst growing pressure from the American Bankers Association (ABA) and a joint congressional resolution to remove barriers that a previous rule imposed on banks and other […]

Funding your business: What small business owners need to know about financing

Running a small business often requires periodic cash infusions, and knowing how to secure the right funding can determine whether your business succeeds or struggles. Let’s explore the three primary types of funding available to small businesses: debt, equity and hybrid financing. Debt: Borrowing to grow Debt financing involves borrowing money and repaying it with […]