The construction industry needs a few good men and women. The U.S. Bureau of Labor Statistics estimates that the industry will add more than 1.6 million jobs in the decade leading up to 2022. To help meet this lofty goal, industry leaders recently pledged at the White House to hire 100,000 veterans before 2020.
celliott
Recent Posts
0 Comments Click here to read/write comments
Topics: Recruitment, Veterans, Construction, Uncategorized, Work Opportunity Tax Credit
Mergers and acquisitions (M&As) are an ambitious way to gain traction in today’s competitive construction marketplace. With so many baby boomers approaching retirement age, market analysts expect that there will be plenty of bargains for small to midsize businesses in the coming years. In fact, $10 trillion worth of baby-boomer-owned companies are expected to soon change hands, according to the Exit Planning Institute.
0 Comments Click here to read/write comments
Topics: Construction, due diligence, Mergers & Acquisitions, Uncategorized, Valuations
Rules Surrounding IRA Rollovers Become Less Friendly to Taxpayers
Posted by celliott on Jun 26, 2014 8:44:31 AM
Earlier this year, the U.S. Tax Court made a controversial ruling regarding IRA rollovers that contradicted an IRS publication designed to explain the law to taxpayers. In Bobrow v. Commissioner, the court ruled that the one-rollover-per-year rule applies to all of a taxpayer’s IRAs in aggregate, rather than on an account-by-account basis.
0 Comments Click here to read/write comments
Topics: Bobrow v. Commissioner, IRA Accounts, IRA Rollovers, Tax, U.S. Tax Court, Uncategorized
Some liabilities may be out of sight, but they should never be out of a lender’s mind. For example, a borrower’s balance sheet won’t list contingent costs, pending claims or underfunded accounts. Proactive lenders search for undisclosed risks to get a complete assessment of their borrowers’ financial health. Here are some items you might unearth.
0 Comments Click here to read/write comments
Topics: Accounting, Advisory, Commercial Lenders, CPA Assurance, Liabilities, Uncategorized
Skimmer frauds cost U.S. businesses billions of dollars annually, according to a report released by the Association of Chartered Certified Accountants USA (ACCA) and Pace University in February. The average loss per skimmer scam was roughly $50,000 in 2011, up from $30,000 in 2010. This trend shows no signs of stopping.
0 Comments Click here to read/write comments
Topics: Accounting, ATM, Advisory, Borrowers, Card Readers, Commercial Lenders, Electronic Payments, Fraud, Fraud Detection, Skimmer Scams, Transactions, Uncategorized
CPAs reconsider the “going concern” assumption every time they audit financial statements. When the long-term viability of a borrower is doubtful, it may cause the CPA to issue a qualified audit opinion — or, worse, to withdraw from the job altogether.
0 Comments Click here to read/write comments
Topics: Accounting, Audit Opinion, Advisory, Commercial Lenders, FASB, Going Concern, Uncategorized
For years, small companies and their accountants have complained about the increasing complexity and costs of complying with Generally Accepted Accounting Principles (GAAP). So the Financial Accounting Standards Board (FASB) solicited feedback from private company lenders and other stakeholders about the usefulness of certain complex accounting rules.
0 Comments Click here to read/write comments
Topics: Accounting, Advisory, Commercial Lenders, GAAP, Goodwill, Uncategorized
Note: The National ISM May release published revised National PMI numbers and Georgia versus National Survey numbers June 3 at 4 p.m. They are reflected in the following article and PDF.
0 Comments Click here to read/write comments
Topics: Sabbarese, Georgia manufacturing activity, KSU Econometric Center, manufacturing activity, PMI, Uncategorized
This article focuses on how to address the carveouts of subservice organizations in a SOC 1 report (Service Organization Controls Report). SOC 1 reports cover key controls at the organizations that provide various services to the benefit plan (e.g., payroll providers, recordkeepers, custodians, etc.). These reports should be obtained and reviewed by the plan sponsor so they understand the systems in place at the service organization, including key controls that address financial statement assertions. The reports are also generally used by the auditor for performing the plan audit. We have found carve-outs of subservice organizations within the SOC 1 report (and how best to address them) to be a common hurdle in using the SOC 1 report effectively.
0 Comments Click here to read/write comments
Topics: Employee Benefit Plans, SOC Report, Uncategorized
The U.S. real estate market has seen many ups and downs over the years. If you own property in the commercial market, you know how devastating it can be when values decline. But there are ways you can help ensure your properties turn a profit.
0 Comments Click here to read/write comments
Topics: Property Value, Net Operating Income, real estate, Tenants, Uncategorized