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Category: General Business

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5 Things Manufacturers Can Do To Remain Profitable During an Economic Downturn

With the current economic situation, some manufactures have had delays in production, reductions in orders, and temporary closures. Depending on the size of the company, you may have received a PPP or EIDL loan, or you may be weathering the times on your own. Regardless of your situation, we put together the following actions you […]

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Deferral of Revenue Recognition and Leases

This article was originally published with updates to FASB updates on December 10, 2019 and was most recently updated on June 5th. It is being updated as new information becomes available. On June 3, 2020, the FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective […]

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COVID-19 Relief: Information for 401(k) and Retirement Plans

by Mickie Murphy, Blue Benefits Consulting | This article was originally published on March 24th and was most recently updated on June 4th. It is being updated as new information becomes available.  We have answers to questions employers are asking about their plans: Changes to Plan Contributions Can employees stop their deferral contributions? Employees may […]

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Revised PPP Forgiveness Applications & EZ Application Released

This article was originally published on May 18th and was most recently updated on June 18th. It is being updated as new information becomes available. The U.S. Department of Treasury released revised PPP loan forgiveness applications on June 17th in response to changes enacted by the Paycheck Protection Program Flexibility Act of 2020. In doing […]

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Managing Cash Flow Through Uncertainty

Cash flow management is a critical exercise during uncertain times like these and one that is top of mind for every business owner.  It involves managing every aspect of the business that can have an effect on cash inflows or outflows, including focusing on accelerating inflows, prioritizing spending, and overall allocation of valuable resources. Where […]

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A Solution to Equity Deficits for ESOPs

by Damien Strohmier, CPA, CCIFP Considering an ESOP (Employee Stock Ownership Plan) or have you just implemented an ESOP for owner succession? The technical application of accounting for this transaction generally results in the company presenting a significant deficit where the company previously had equity. But does that have to be the case? How Equity […]

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On-Demand Webinar: Maximizing Forgiveness & Minimizing Reduction for Your P3 Loan

This on-demand webinar covers common questions we have been receiving about the Paycheck Protection Program and Loan Forgiveness. Directors JT Loughmiller and Stephen Mann illustrate the mechanics associated with the forgiveness clause, as well as some planning insights that should be considered. Duration: 30 Minutes Speakers: JT Loughmiller, Director Stephen Mann, Director Fill out the […]

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COVID-19 Update: General Considerations for Clients

This article was originally published on March 25th and is being updated as new information becomes available. We created this Q&A as a general, high-level guide for our clients on common business items relating to the COVID-19 pandemic. We will be continually updating when new information becomes available. What general advice are you giving to clients? There’s […]

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Staying Collaborative in a Remote Work Business Model

Many companies currently operating in a remote work business model are asking questions about how to keep effectively collaborating as if their employees were in person. It’s easy to take collaboration for granted in our day-to-day work lives. In a remote or work from home (WFH) environment, physical aspects need to be replaced in other […]

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woman using a quickbooks point of sale system

Blue & Co. Offers Expertise to Not-For-Profits Affected by QuickBooks Point of Sale Discontinuation

By Nancy Orben, CPA, Senior Manager, Laura Philpot, Senior Accountant, Business Services, and Lisa Totten, Senior Accounting Specialist at Blue & Co. Attention all not-for-profit organizations! Are you currently using QuickBooks Point of Sale in your gift shops, ticket sales, or day-to-day business? If so, you may have heard the recent news that Intuit will […]

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Contract Services: Impact on Wage Index

In the past several years, hospitals have continued to feel the impact of increased utilization of contract nursing and other contract services. Although these services have developed into a major expense line item, it is important for hospitals understand how expenses related to contracted services can impact the wage index factor for Medicare reimbursement. Contract […]

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shamrocks not-for-profit tips

3 Lucky Tips for Not-For-Profits to Avoid Bank Fraud

Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]

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