December 2, 2024

At the heart of effective financial management lies the accounting cycle—a fundamental process that guides businesses in recording and analyzing their financial transactions. Understanding this 8-step accounting cycle is crucial for beginners to master the art of effective financial oversight.   Following the structured eight-step process, businesses can streamline their bookkeepin...

January 8, 2024

Starting in 2024, small businesses will be required to file a Beneficial Ownership Information (BOI) report with FinCEN (Financial Crimes Enforcement Network), a branch of the U.S. Department of Treasury. Failure to comply with this reporting requirement can result in severe consequences, including fines and potential jail time. The BOI report helps promote transparency, combat financial crimes, a...

August 12, 2022

Every year, organizations lose billions of dollars to employee dishonesty. About 30 percent of business failures are brought about due to employee theft. Simply put, cases of employee fraud can completely wreck your company. At present, we’re living in times of economic uncertainty. Due to financial challenges, employees may be more tempted than usual to steal from your company or clients. I...

March 22, 2014

In 2012, there were more than 278,000 civil lawsuits filed (source). While many people will manage to escape being sued, you never know when it could happen to you. Unfortunately, those being sued – especially for the first time – are never quite sure how to react. The first thing most think of is the emotional and possible financial toll it will take on you to defend your position. And what ...