Every contractor is aware of the importance of complying with safety rules set forth by the Occupational Safety and Health Administration (OSHA). There are heavy penalties and fines associated with noncompliance. And most construction businesses take steps to at least meet the minimum qualifications. But why be satisfied with the bare minimum? There are several […]
Fraud prevention is easier than you may think
Most research has found that nonprofit organizations are no more likely to fall victim to occupational fraud than their for-profit peers. On the other hand, there’s reason to believe that nonprofits underreport fraud incidents and are reluctant to prosecute thieving employees to protect their reputation with donors and the public. The fact is, according to […]
The 411 on IoT: Everything is connected
Once upon a time, there was the Internet. And relatively speaking, it was easy to understand. The Internet was (and is) a network on which any computer on the planet could communicate with other like-connected computers, enabling users to correspond and share files. But the Internet wasn’t (and isn’t) satisfied with connecting only computers. It […]
The treasurer may be your board’s most valuable asset
In many organizations, the treasurer is the board of directors’ hardest working member. Depending on the duties outlined in your organization’s bylaws, this individual might manage cash flow, act as a liaison to outside auditors and craft investment policies. A role this critical to your nonprofit’s financial health should be filled by a highly qualified […]
WW&D Promotes Kathy Corcoran to Director
Wheeler Wolfenden and Dwares, CPAs is proud to announce the promotion of Kathy Corcoran, CPA from Principal to Director of the firm. Kathy’s tax expertise and enthusiasm for working with clients has led her to advance through the ranks at the firm. Kathy joined the firm in 2001, after graduating from the University of Delaware with a bachelor […]
Speeding up the payment process: Supply chain financing for construction projects
Construction is historically an invoice-based industry. You get paid when work is completed, and only after the invoice is submitted along with other documentation and approved by multiple project stakeholders. This payment process can take weeks or months, creating serious cash flow and working capital challenges for contractors who are waiting to get paid for work […]
How to attract donor-advised fund gifts
Donor-advised funds (DAFs) have been around since the 1930s, but they’ve exploded in popularity in the past decade. Between 2007 and 2016, DAF assets grew from $32 billion to $85 billion, according to the National Philanthropic Trust. Assets are expected to continue to grow exponentially thanks, at least in part, to the Tax Cuts and […]
Why it’s a good idea to review your business plan
Most construction companies start out with a business plan: a road map that outlines goals and details how to achieve them. But once a business is up and running, this document tends to get buried in a file cabinet or on a hard drive. Construction company owners, however, would benefit from digging out their business […]
WW&D Passes Seventh Consecutive Peer Review
Wheeler Wolfenden and Dwares, CPAs (WW&D) is pleased to announce that, for the seventh consecutive time, it has successfully completed a rigorous peer review of its accounting and audit practice. WW&D received the best possible rating – pass with no letter of comment – as the firm has earned for all of its peer reviews. […]
Nonprofit accounting is different
Carolyn, the executive director of an educational nonprofit, was thrilled, after a long search, to welcome two new members to her charity’s board of directors — both from the for-profit business world. However, she was a little concerned about a few of the comments and questions that arose in their first board meeting. It was […]