With all the buzz about cyberattacks and cyber threats, it’s all too easy to take your eyes off of a common threat that is much closer to home—fraud that occurs within your own organization. While no business owner or organization manager wants to think about embezzlement occurring within their own employee population, it can and does happen on a frequent basis. This Q&A blog explains why every company should institute an effective fraud policy to prevent substantial financial losses.
One of the biggest hurdles to embracing technological change—including the “Internet of Things” (IoT) and beyond—is figuring out how to pay for it: 31 percent of surveyed manufacturers rank budget and resources as their biggest challenges to applying IoT capabilities.
Yet, while 79 percent of manufacturers say they are investing in the IoT, only 43 percent are planning to claim IoT-related tax credits and investments. The rest may be leaving money on the table.
Each of the 1.5 million nonprofits registered in the U.S. is a unique entity with a specific mission, but they all face a common set of dynamic challenges. Although the country at large has entered a period of economic recovery, times are still trying for nonprofit organizations.
Ensuring sustainability is a top priority for almost every nonprofit organization. But one sometimes overlooked piece of the sustainability puzzle is managing critical external relationships and ensuring their longevity. This is especially important in a climate characterized by pervasive change. As we’ve covered in our Nonprofit Standard blog posts, executive retirements are impacting nonprofits of all sizes as leaders age, many of whom have tenured long careers at their organizations. The industry is also seeing an uptick in merger and acquisition (M&A) activity aimed at consolidating costs, back-office and administrative functions, and building efficiencies to expand scope and reach. How new priorities in the executive branch will impact charitable organizations is also a big unknown.
Online banking may get all the headlines, but a lot of small businesses still prefer paper checks. QuickBooks can accommodate them.
“I don’t write checks anymore,” you hear a lot of people say these days. Debit cards, smartphone payment apps, and online banking have replaced the old paper checkbook for a lot of consumers.
That’s fine if you’re at Starbucks or the grocery store, but many small businesses still prefer to issue paper checks to pay bills, cover expenses, and make product and service purchases. QuickBooks provides tools that help you create, print, and track checks.
It’s perhaps one of your favorite activities in QuickBooks Online: recording money that comes in. Are you doing it right?
Your days of matching paper checks to paper invoices are over. QuickBooks Online excels at keeping your accounts receivable organized. No more digging through piles of forms and hand-stamping PAID on your customer bills and statements. No more trying to write small enough in your register so you can identify the origins of deposits.
You do, though, need to know how to get to payment screens—there are multiple ways—and which form to complete for each remittance. Here are the three types you’ll deal with most often.
"A quickly-spreading, world-wide ransomware outbreak has reportedly hit targets in Spain, France, Ukraine, Russia, and other countries." We hope we are wrong, but this could be another WannaCry, reported Motherboard, a digital channel of Vice Media LLC focused on technology an science.
IRS updates its list for 2017
The IRS recently released its annual list of “Dirty Dozen” tax scams to watch out for in 2017. This article is a rundown gleaned from the IRS’ summary, including phishing, telephone scams, fake charities and inflated refund claims to name a few.
Insights on how nonprofit fraud is often committed and strategies to prevent it
In any business, or with any institution or organization, fraud often occurs when the person(s) charged with overseeing funds steals those funds after they’ve already been deposited into the organization’s checking account. This fraud occurs by what is known as theft by disbursements.
This article shares insights on how nonprofit fraud is often committed and presents strategies to prevent it.
The deadline for implementation of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), is right around the corner!
With an effective date of Jan. 1, 2018, for calendar year publicly held companies and Jan. 1, 2019, for calendar year privately held companies, the time to begin planning for implementation is now.
In this article, we will provide a refresher on the standard’s main provisions. Additionally, we will review implementation methods and key issues that may arise for government contractors during implementation, including those addressed by the AICPA’s Industry Revenue Recognition Task Force for Aerospace & Defense. Finally, we will discuss the presentation and disclosure requirements under the new standard.