When the pandemic hit about two and a half years ago, thousands of employees suddenly found themselves working from home. In many cases, this meant turning to personal devices to access their business email, handle documents and perform other tasks. Even before COVID, more and more businesses were allowing employees to use their own phones, […]
Category: Risk Assessment
How To Handle Evidence In A Fraud Investigation At You Business
Every business owner should establish strong policies, procedures and internal controls to prevent fraud. But don’t stop there. Also be prepared to act if indications arise that, despite your best efforts, wrongdoing has taken place at your company. How you handle the evidence obtained could determine whether you’ll be able to prove the charges brought […]
6 Ways To Fortify Your Cybersecurity Defenses
Small to midsize businesses might assume hackers won’t bother with them. But construction companies of any size are indeed a prime target for cybercriminals. In fact, construction was the top industry hit by ransomware attacks between 2020 and 2021, according to a report by NordLocker. The encryption software firm analyzed 1,200 companies across 35 industries […]
Goodwill in a bad economy
In today’s volatile economy, many businesses and nonprofits have been required to write down the value of acquired goodwill on their balance sheets. Others are expected to follow suit — or report additional write-offs — in 2022. To the extent that goodwill is written off, it can’t be recovered in the future, even if the […]
Deciding Between Cash And Accrual Accounting Methods
Small businesses may start off using the cash-basis method of accounting. But many eventually convert to accrual-basis reporting to conform with U.S. Generally Accepted Accounting Principles (GAAP). Which method is right for you? Cash method Under the cash method, companies recognize revenue as customers pay invoices and expenses when they pay bills. As a result, […]