Accounting & Assurance Archives

Endowments in an Underwater Environment

In today’s ever-changing marketplace, not-for-profit organizations face many difficulties, such as generational turnover, sourcing new major donors, reduction in past donors’ willingness to give,…

Common Errors in Financial Statements and How to Avoid Them

This June, I had the opportunity to speak at the AICPA & CIMA Not-for-Profit Industry Conference about common errors in financial statements and how…

Becoming an Agile Internal Audit Department

The agile internal audit methodology was designed to maximize efficiencies and collaboration with a project’s stakeholders. Agile auditing helps teams put together audit plans…

Allocation Purchase Price Due Diligence: What to Know, What to Love

You did it! You successfully got the deal to the finish line! Once the buyer signs that dotted line purchasing a company, what happens…

6 KPIs Every Professional Services Firm Needs

As the leader of a professional services organization, your company and its people rely on you to make decisions about the business. Metrics undoubtedly…

What’s the Latest? Changes to the 90/10 Rule

Updated April 28, 2023 A Recap of the Department of Education’s Changes to the 90/10 Rule In the fall of 2022, the Department of…

P&L 101: What are Profit & Loss Reports and How Should you Read Them?

The Profit & Loss (P&L) report is a window into your business, providing a means to seeing how your money comes in and where…

Gramm-Leach-Bliley Act (GLBA) Cybersecurity Updates in Higher Ed

To help address concerns relating to consumer information, the Gramm-Leach-Bliley Act (GLBA) ensures certain privacy protections and safeguards are in place for financial institutions….

Top Benefits of Automated Accounting for Entrepreneurial Organizations

Automation is everywhere. Think about it: you can lock your front door without being home. Your thermostat turns off the HVAC system to conserve…

Third-Party Servicer Guidance: Updates for Institutions and Servicers

Title IV Common Findings Corner The Department of Education recently released GEN-23-03, a “Dear Colleague Letter,” to redefine and clarify its position on which…

An Internal Audit – A Needed Physical for Your Organization

Medical visits help us obtain reasonable assurance on the status of our health – when visiting a doctor, we can find preventative steps to…

5 Ways to Reduce Your Days Sales Outstanding (DSO) and have a Reliable Cash Flow

At the core of high-performing companies is a tightened focus on financial health. The ability to forecast cash flow is crucial for taking advantage…

On-Demand Webinar: Why Manufacturers Can’t Ignore Project Accounting

For manufacturers who are engineer-to-order, equipment-based, or those making complex products in a project environment, having the ability to effectively develop results around the…

Recent DOL and IRS Guidance for Employers and Plan Sponsors

A few months into 2023, employers and plan sponsors have been met with changes concerning audit requirements, electronic tax filing requirements, and regulations on…

Getting Technical with GASB-87: A Webinar Recap

Effective for fiscal periods ending June 30, 2022, and thereafter, the Governmental Accounting Standard Board’s (GASB) Statement 87 was issued to improve lease accounting…

Have SVOG Audit Questions? We’ve Got Answers!

Frequently asked questions about the Shuttered Venue Operators Grant (SVOG) Sikich’s team of Shuttered Venue Operators Grant (SVOG) and federal grant audit specialists field…

What You Need to Know about Cryptocurrency Contributions and Charitable Deductions as a Not-for-Profit Organization

Monetary donations are a large part of a not-for-profit organization’s funding portfolio. With many individual taxpayers contributing donations through non-cash means, it’s important to…

5 Site Selection and Incentives Trends for 2023

As the world around us continues to evolve, the aspects of site selection and business incentives change with it. The trends we can expect…

It’s Not Too Late: Wisconsin Unclaimed Property VDA Program

The Wisconsin Unclaimed Property Voluntary Disclosure Agreement (VDA) Program closes on February 28, 2023 All states, including Wisconsin, have laws that require businesses to…

Congress Passes Omnibus Spending Bill Without Key Tax Provisions

IRS announces Form 1099-K delay, too What’s become a bit of a holiday tradition, Congress engaged in its end of year procrastination to complete…