Comparing and Contrasting International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP)

Comparing and Contrasting International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) By Gary Lasker, CPA, CFE Instead of a domestic oriented economy, we now find ourselves in a world economy.  Even in the world of accounting, a conservative discipline to say the least, the trend is toward globalization.   Since the 1930’s, accountants…

Factoring Receivables as a Financing Strategy

Factoring Receivables as a Financing Strategy By Gregory S. Dowell, CPA While the concept may be new to many business owners, “factoring” as a means of financing has been around for centuries, arguably getting its birth with the need to finance merchant trading around 1400 A.D.  Every few years, depending on the availability of traditional…

New Hire Reporting Program

New Hire Reporting Program By Sarah Luhrsen, CPA Are you reporting your company’s new employees within 20 days of their hire?  The New Hire Reporting program requires employers to report new employees within 20 days of the employee’s first day on payroll. What is the New Hire Reporting Program? It is part of the federal…

Which Business Structure is Right for You?

Which Business Structure is Right for You? By Jason A. Rothenburger, CPA Starting a new business can be an exciting and nerve-wracking time.  There are many important decisions that need to be made.  One of those decisions is business structure.  The most commonly used business structures are sole proprietorship, partnership, corporation, and limited liability company…