3 Areas of Fraud-Proofing to Focus on For Construction
As the economy continues to challenge everyone, the motivation for some employees to steal isn’t hard to understand. Although the term “fraud-proof” may be a bit hyperbolic, it doesn’t hurt to shoot for the stars when trying to safeguard your revenue and assets. One way to divide and potentially conquer fraudsters is to focus on [...]
Avoiding a Tax Audit
Even though the Internal Revenue Service likes to present a “kinder, friendlier” image to the public, you better believe that they are not slacking off in the collection of taxes. After all, their job is to raise money for the federal government. IRS staff has actually decreased, but more sophisticated computer programs cross check items [...]
The Statement That Tells All – The Cash Flow Statement
In a set of financial statements, the one that lends credibility to the others is the Cash Flow Statement. Management, lenders, stockholders, potential investors, and valuators use this statement to assess the financial health of a business, whether the organization is for profit or a not-for-profit. The statement reports three primary activities: Operating Investing Financing [...]
Don’t ignore that 401(k) Compliance Check Questionnaire
The IRS’s Employee Plans Compliance Unit (EPCU) is sending a letter and instructions to a random sampling of 1,200 employers of the nearly half million employers that sponsor 401(k) plans and asking them to complete a comprehensive “401(k) Compliance Check Questionnaire.” The IRS said that the questionnaire was developed because of the critical role 401(k) [...]
