Monthly Archives: December 2018

Dissipation Claims in Marital Disputes – They Can Be Costly

By |2018-12-28T12:07:17+00:00December 28th, 2018|Change, Damages, Forensic Accounting, Home, Investigation, Litigation Support, Saving|

Studies say that more than 50% of all marriages will end in divorce and one of the major breaking points are disagreements around finances. It’s not surprising that many divorces end up in legal battles over some financial matter. One common type of these disputes is known as a dissipation claim. Generally, a dissipation claim [...]

Filing Date Options for Farm Returns

By |2019-01-25T11:28:34+00:00December 23rd, 2018|Accounting, Agriculture, Change, Compliance, IRS, Preparation, Tax, Tax Reform|

It’s a  mystery to many farmers why their tax return filing deadline is March 1, while the filing date for most taxpayers is in April. There are multiple date options when filing your farm returns. Susan K. Voss, CPA will explain the options, the benefits of each and will  explain why filing by March 1, [...]

Are Rules of Thumb an Adequate Way to Value a Business?

By |2018-12-28T10:48:37+00:00December 21st, 2018|Advisory, Business Valuation, Change, Preparation, Sell, Tips|

Let me begin by answering that question. No! Now it is my responsibility to explain why. While “Rules of Thumb” typically derive from industry trends and comparable company research, they miss out on vital factors that must be considered when determining a reasonable value for a business or ownership share. First, let’s start with an [...]

Governance vs Management, Is There a Difference?

By |2019-01-24T15:08:15+00:00December 18th, 2018|Board, Goals, Internal Control, Leader, Nonprofit|

It’s no secret that nonprofit organizations come in a variety of shapes and sizes.  Likewise, the structure of their boards are made up of various shapes and sizes.  As a board member, it's important to understand what your role is in providing service to the organization.  Especially for organizations without paid staff, board members are [...]

Here They Are…More Changes to Financial Statements!

By |2019-01-16T09:40:45+00:00December 11th, 2018|Accounting, Board, Budget, Cash Flow, Change, Compliance, Investment, Nonprofit, Preparation|

Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?” we provided information on the changes to net asset presentation and underwater endowments under the new financial statement presentation standard. Now we will address the new presentation and disclosure items related to liquidity and availability disclosures, functional expenses, investment expenses, and the statement [...]

Goal Setting – The First Step in Succession Planning

By |2019-01-16T09:40:53+00:00December 6th, 2018|Advisory, Change, Internal Control, Leader, Preparation, Shareholder, Succession Planning|

Many of us can relate to trying a new diet or exercise program at some point in our lives. What was the key component to success or failure in the program? For me, the answer is easy—my success depended on a few things: Did I fully “buy in” to the program? Did I completely let [...]

3 Reasons You Should Consider Moving to the Cloud

By |2019-01-16T12:25:32+00:00December 4th, 2018|Internal Control, IT, Leading, Nonprofit, Preparation, Records, Tips|

What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]