TDT

About TDT Staff

This author has not yet filled in any details.
So far TDT Staff has created 83 blog entries.

The Time is Now… Financial Statement Presentation Changes are Here!

By |2019-05-22T10:02:27-05:00February 27th, 2019|Accounting, Board, Change, Compliance, Internal Control, Nonprofit|

Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?”, we provided an overview of the changes for nonprofit financial statements. Now we will take a closer look at the new net asset presentation and disclosures your organization will face, beginning with your December 31, 2018 financial statements. If you missed our previous [...]

Business Brokers vs. Business Appraisers – 3 Key Differences

By |2019-04-17T15:36:39-05:00February 13th, 2019|Advisory, Business Valuation, Change, Sell, Tips|

For full disclosure, I want to start off this article by leveling the playing field on perspective by saying I am an accredited business appraiser and have no experience as a business broker. The purpose of this article is to provide insight into key differences between costs associated with the services of a business broker [...]

Dissipation Claims in Marital Disputes – They Can Be Costly

By |2019-04-17T15:36:55-05:00December 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 [...]

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

By |2019-04-17T15:37:06-05:00December 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 [...]

Here They Are…More Changes to Financial Statements!

By |2019-05-22T10:02:36-05:00December 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 |2019-04-17T15:37:19-05:00December 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 [...]

10 Reasons for Your Nonprofit to Develop a Succession Plan

By |2018-11-02T13:01:56-05:00October 8th, 2018|Goals, Nonprofit, Preparation, Succession Planning|

Succession planning is a huge topic in business right now and at TDT we repeatedly talk about it with our for-profit clients. Record numbers of nonprofit executives are preparing for their retirement, making this topic incredibly important and timely. For many nonprofit organizations, conversations regarding succession planning are past due, putting the organization at risk. [...]

Planning For Your Succession? Ask Yourself These 6 Questions

By |2019-04-10T13:26:00-05:00September 26th, 2018|Business Valuation, Preparation, Retirement, Succession Planning, Value|

A captain doesn’t decide on a whim that he or she is going to sail around the world tomorrow. The voyage will take proper planning, appropriate resources, and a skilled co-captain. The same can be said for succession planning. Business owners, like captains, must plan and consider many variables before selling or transitioning their business [...]

Divorce Can Hurt – A Case Study in the Tax Consequences

By |2019-04-10T13:28:41-05:00September 19th, 2018|Cash Flow, Litigation Support, Tips|

When I was a kid, my dad said something that has stuck with me throughout my life. Considering I grew up to be a CPA, the irony of his statement isn’t lost on me... He said, “Son, there are only two definite things we must do in this world, pay taxes and die.” The takeaway [...]

Changes to Financial Statements for Nonprofit Entities, Are You Ready?

By |2019-05-22T10:02:42-05:00September 19th, 2018|Accounting, Change, Nonprofit|

FASB’s Not-for-Profit Advisory Committee determined that existing standards for financial statements of Not-for-Profit entities could be improved to provide more useful information to donors, grantors, creditors, and other users. The update is effective for years beginning after December 15, 2017. If your organization has a calendar year-end, you’ll be required to present financial statements under [...]