By MarksNelson on January 8, 2018The Financial Accounting Standards Board issued an update that will significantly change the way in which lessees and lessors account for leases. The change, which takes effect in 2020, will require businesses to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements.
By MarksNelson on September 25, 2017Is a significant portion of your profitable manufacturing business’ taxable income generated from production activities within the U.S.? If so, it may qualify for a deduction equal to 9% of its qualified production activity income (QPAI).
By MarksNelson on May 5, 2017
By MarksNelson on February 6, 2017Cyberattacks are on the rise. Manufacturers who rely on automation, robotics and connected networks are especially vulnerable and are in need of better cybersecurity. Here’s what you can do to protect your business against ransomware and other attacks from criminals using the Internet of Things.
By MarksNelson on January 16, 2017A Missouri lawmaker introduced legislation on January 5th, designed to give incentives to manufacturing companies in the state.
By MarksNelson on October 26, 2016Kansas City manufacturers are poised to do great things for the area in the next few years and beyond. How does the industry attract the right people and plot out the course to get there?
By MarksNelson on October 19, 2016U.S. businesses lose millions of dollars to white-collar criminals every year. The manufacturing sector is especially vulnerable to fraud schemes involving billing, corruption and noncash assets, such as theft of inventory and equipment. Research suggests that businesses that provide a convenient and confidential way for employees to report unethical behavior are more likely to unearth embezzlement and other wrongdoing sooner and suffer smaller losses than those without established “whistleblower” policies.
By MarksNelson on September 7, 2016The Financial Accounting Standards Board (FASB) is considering whether to require businesses to provide more details in their financial statement footnotes about their inventories.
By MarksNelson on August 3, 2016A common practice among companies with significant amounts of inventory is to perform cycle counts instead of a year-end count. A company with significant amounts of inventory that comprise of small, identical items with high turnover might be a good candidate for cycle counts and should consider making the switch.
By MarksNelson on July 6, 2016Technology is playing a vital role in everyday manufacturing operations. Software programs are allowing companies to better track and predict inventory needs through supply chain and operations data. So why are so many manufacturers dealing with the cash gap and drawing on a line of credit to make up capital shortfalls?
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At MarksNelson, we think curiosity is a virtue. After all, any accountant can focus on your numbers. We get down to business by first learning yours, inside and out. Our associates work to understand not only what you do, but why you do it.
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