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When you are in need of bank financing, always check with your accountant before entering into such an agreement. They may offer advice to alleviate burdens that lending institutions may try to include in the agreement—saving you time and money.

Commitments and contingencies may only be a few words on the balance sheet, but they are still an important component of the financial statements and give a reader a more complete view of the company’s financial strength.

Accrued expenses commonly appear as a current liability on your balance sheet. The next time you talk commissions with your sales representatives or receive a product without an invoice, all of these transactions should record as accrued expenses!

Nearly every expense your business incurs will flow through accounts payable. It is vital to the success of your business to closely monitor your payables and evaluate the best time to actually pay them.

An intangible asset is an asset that is not physical in nature. Examples include non-compete agreements, customer lists, goodwill, and corporate intellectual property such as patents, trademarks, copyrights, trade secrets and domain names.

When you are starting a business, PP&E is usually one of your biggest investments. Many business owners see this as an expense and feel it should be a reduction from the bottom line. But many may not see PP&E as what it is: a capital expenditure.

The value of inventory depends on the order and timing of your transactions, market conditions, and the method you use to calculate inventory value. You can decrease the cash gap by understanding the days each product is in your warehouse.

What can you do as a business owner to ensure you have healthy AR (Accounts Receivable)? The good news is you won’t need a degree in finance or mathematics to do it; there are several simple ways you can analyze your AR.

Every business has a cash gap. It is the days of cash needed by the business to cover the time between its cash outflows and its cash inflows. Here's how you can improve your cash gap.

How do companies share their financial information with owners, potential investors, banks and others? Pictures are nice but it is kind of difficult to draw a liability...

What is GAAP? GAAP, short for 'Generally Accepted Accounting Principles,' is the accountants’ equivalent to the bro code. A set of rules and guidelines all accountants must follow. So what are these principles and guidelines?

Recently, Metropolitan Corporate Counsel interviewed EisnerAmper Partner Jordan D. Amin about certain aspects of providing services to family-owned businesses including matters well beyond their tax implication such as succession planning.

Accounting Standards Update Revenue from Contracts with Customers. What investment managers and and investment fund general partners need to know. Information on the new five-step revenue recognition process and examples of revenue excluded from the scope of Topic 606.

The proceeds from your life insurance policy will be included in your taxable estate and therefore may be subject to estate tax. Instead, if you want to protect the proceeds from estate tax, consider owning your insurance in an irrevocable life insurance trust (“ILIT”).

The IRS issued Notice 2021-10, which extends the relief provided by Notice 2020-39 for qualified opportunity funds and their investors. This article highlights additional relief under the Internal Revenue Code.

The IRS has recently issued a set of frequently asked questions on qualified opportunity zones. This article features a summary of the FAQs.

The Treasury Department and the IRS released a second more robust set of Qualified Opportunity Zone (“QOZ”)/Qualified Opportunity Fund (“QOF”) proposed regulations. The following is a brief summary of the April proposed regulations.

The Internal Revenue Service released the second round of proposed regulations for qualified opportunity funds (QOFs). While the first set of proposed regulations provided a great deal of clarity, many questions remained unanswered.

The QOZ regime offers benefits to nonresidents, offering exemption from gain on the sale of U.S. real estate. There are several issues that need to be addressed by the IRS and should be closely monitored by nonresidents investing in U.S. real estate.

The introduction of the Disaster Recovery and Opportunity Act of 2018, the White House Opportunity and Revitalization Council and additional opportunity zone proposed regulation will increase Qualified Opportunity Zones into 2019.