Nonprofit Blog

The Supreme Court repealed Section 3, a key portion of the Defense of Marriage Act (DOMA), on June 26, 2013. Section 3 prevented the federal government from recognizing marriages of same-sex couples. Section 3 was declared unconstitutional because it violates the Constitution’s equal protection promise. The following article from Swerdlin & Company addresses what this means for employee benefit plans. 

The Georgia International Business Index (GIBI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, an Atlanta accounting and advisory firm, and is produced quarterly by the Econometric Center at Kennesaw State University.
 
Georgia’s International Business Index (GIBI) — rose by 13.9 points from 55.8 to 69.6 in the first quarter of 2014.  

The Financial Accounting Standards Board (FASB) has issued guidance that lays out new rules for financial reporting on discontinued operations. The rules reduce the number of asset disposals that companies must present as discontinued operations in their financial statements. But they also expand the disclosures that are required when discontinued operations are reported.

More US companies are looking to repatriate some operations. As labor costs rise overseas, more U.S. companies are carefully weighing their offshore strategies and expanding jobs domestically. The vast majority of CFOs (95 percent) do not anticipate offshoring their operations in the coming years.

Financial statements help lenders evaluate an organization’s performance and determine its ability to repay debt. But all financial statements aren’t subject to equal levels of analytical procedures, inquiry or testing by an outside accounting professional.

Last year, the National Federation of Independent Business (NFIB) identified the top five concerns of borrowers. (The percentage of respondents who classified each as a “critical concern” is in parentheses below.) What differentiates strong borrowers from questionable ones is how they manage concerns such as these. Strong borrowers acknowledge key risks and take steps to prevent or mitigate their adverse effects.

Nine million Americans will have their identities stolen this year, according to the Federal Trade Commission (FTC). Identity thieves may steal money, rack up unpaid credit and damage credit scores. The Red Flags Rule aims to reduce the risk of identity theft.

A balance sheet presents the company’s financial position at a given moment in time. Even if your borrower’s statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP), the amounts shown on the balance sheet often don’t reflect current market values — and many valuable items are even omitted.

The Purchasing Managers Index (PMI) Report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, an Atlanta accounting and advisory firm, and is produced monthly by the Econometric Center at Kennesaw State University.
 
Georgia’s Purchasing Managers Index (PMI) — a reading of economic activity in the state’s manufacturing sector — rose by 5.8 points from 56.7 to 62.5 in March.  

Transaction Volume Declines but Valuations Rise Further.

M&A activity in the Manufacturing & Distribution (M&D) sector slowed materially in 2013 (as did the broader M&A market), down almost 27 percent from 2012, registering the lowest level of activity since 2009. Deal activity picked up modestly during Q4 and the M&D deal pipeline is increasing as we proceed through Q1 2014. The ratio of closed transactions between strategic and financial buyers remained unchanged at approximately 2-to-1 during 2013, although financial buyer purchases spiked to 41 percent of all U.S. M&D deals completed during Q4.