One of the most difficult challenges for some auditors as 2019 comes to an end is maintaining their independence amid the frustration and confusion of their clients over the implementation of FASB’s new revenue recognition standard. CPAs who see their clients struggling want to help, but if they are going to continue auditing a financial […]
Going the Freemium Pricing Route: What You Need to Know
When Goldilocks broke into the Three Bears’ home, she needed a bed that was just right—not too small and not too large. Likewise, when you break into the market, you need to set prices that are just right—not too low and not too high. Could freemium pricing be your “just right” strategy? So, what in […]
What Is an Independent Contractor?
As a business owner, you might need to hire a worker at some point or another. And depending on your type of business, you might need to hire employees, independent contractors, or both to get the job done. But, how much do you really know about independent contractors vs. employees? Can you get away with […]
Step up Your Accounting Game With a Compound Journal Entry
If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry. A compound journal entry may sound fancy, but it’s actually a pretty […]
Markup vs. Margin Chart: How to Calculate Margin and Markup
Business owners often confuse margin and markup. Both figures help you set prices and measure productivity. But, a margin vs. markup chart shows that the two terms reflect profit differently. It’s important to know the difference between margins and markups in accounting. Read on to learn about markup vs. margin. And, don’t forget to check […]
What Is a Cash Reserve?
According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love. Cash reserves for business can help you cover larger, […]
3 Reasons Your Small Business Should Go Cashless
The debate continues, but there’s plenty to be said for prioritizing mobile payments. October 29, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. When was the last time you paid cash for something? Personally, it’s rare for me to even carry it these days. And with the rise of new mobile and […]
Wolters Kluwer is #AuditorProud
This year, #AuditorProud day was on Thursday, September 26th. During this primarily social event, auditors from all over the place went to town expressing the value and fun of the audit profession. Thank you to the Center for Audit Quality, a non-profit affiliate of the AICPA, for creating this day. You have successfully provided a […]
The Rise of Account-Based Marketing
How you can save time and money compared to traditional outbound sales efforts. September 24, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. I’ve witnessed many evolutions in marketing best practices, from the rise of digital- and social media-marketing to automation technologies replacing human tasks. And now there’s a new trend that is […]
Can you rely on your audit tool?
Quality is foundational in everything we need to do as a CPA to be the trusted advisor for clients. That really begs the question, can you really rely on the tools that you use for your audits? This is an important question to ask. If fact, there are two aspects to consider – the content and […]