Nonprofit Blog

According to Don Sabbarese, Professor of Economics at Kennesaw State University, "The August report show that the rise in Georgia new orders and production rise to offset decreases in employment, supplier delivery time, and finished inventory." At Smith & Howard, we continue to see the challenge of finding skilled workers remains at the forefront of an otherwise optimisitic view from respondents. 

Imagine this: Company X is a plastics manufacturer attempting to develop new products that can be used in medicine. The company has grown in recent years, generating approximately $40 million in revenue last year, and has invested heavily in developing biodegradable plastics that can be used for the treatment of bone and bodily injuries and in various other medical procedures, as well as accelerating its 3D printing capabilities to achieve greater scale.

When discussing the role of the plan sponsor as the fiduciary to a plan, it is important to note that the role of fiduciary extends to specific individuals within the plan sponsor organization. Identifying those individuals depends on job functions performed on behalf of the plan and is not based solely on a particular job title. Within the plan sponsor organization, plan fiduciaries will often consist of a named plan fiduciary, any committees charged with the governance/ administration of the plan (which can include the audit committee, plan committee and/or a plan investment committee, etc.) as well an anyone else involved in decision making for the plan.

Recruiting season is here and Smith & Howard is gearing up for on-campus recruiting visits. This fall we will be visiting the University of Georgia, Georgia Tech, Georgia State University, Auburn University and Kennesaw State University searching for the best and brightest students who are looking to begin a career in public accounting.  

A resume is a concise summary of your skills, education, goals and experience.  Having a solid and effective resume can greatly improve your chances of landing your dream job with your top employer.  Here are some tips to help you create a stellar resume: 

The thought of going to an interview can be, well, intimidating. This intimidation factor can disappear with confidence which comes with preparation. Smith & Howard’s recruiting team is here to help you learn more about the interview process. Assurance Manager, Joel Alzola, provides a step by step process to help those who are approaching interviews. 

In recent months, the Department of Labor (DOL) has raised concerns about cybersecurity and employee benefit plans. Employee benefit plans may be vulnerable to cyber-attacks and thus exposed to risks relating to privacy, security, and fraud. Plan administrators, or those charged with governance, have an ERISA fiduciary duty with respect to the management of the plan, which encompasses the duty to care for personally identifiable information (PII) and protected health information (PHI).

Background

While most Americans are fairly well-versed in Roth IRAs – a retirement vehicle in play since 1997 – fewer are as familiar with the Roth 401(k). In essence, the Roth 401(k), an employer-sponsored investment savings plan, combines advantageous features of the Roth IRA and a traditional 401(k) plan. More than 60 percent of employers now offer this retirement savings plan option.

An update released by the Financial Accounting Standards Board (“FASB”) on August 18, 2016 is the first in a set of major changes which will substantially affect all nonprofit entities (“nonprofits”) and users of their financial statements.