BREAKING NEWS

John Jenkins Named Newest Partner at BMF

We are pleased to welcome with pride and purpose our newest partner, John Jenkins!

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ERISA Compliance Year-End Checklist

Preparing a year-end checklist for your qualified retirement plan is a good way to help ensure your plan remains compliant with ERISA regulations throughout the year. A checklist can also serve as a valuable reminder of upcoming deadlines for. Read More >>

Revenue Recognition Issue 12 – Special Focus: Nonprofit

The good news for nonprofits is that contribution revenue was determined by the accounting standard setters to be “out of scope” for these new standards. Accordingly, no assessment of contribution revenues is required; however, these organizations don’t just get. Read More >>

2019 Cost-of-Living Adjustments (COLA)

November 5, 2018 Tax Advisor

On Friday, the IRS announced the 2019 cost-of-living adjustments (COLAs), which impact retirement plans for more than 67 million Americans. In addition, the Social Security Administration announced the 2019 social security wage base will be $132,900, which reflects a 3.5% increase from 2018. Most. Read More >>

Revenue Recognition Issue 11 – Special Focus: Service

The Service Industry can be complicated in terms of revenue recognition. In professional services, contracts (whether express or implied) may provide that contractors can bill by the hour or by the project, and terms may allow for progress billing. Read More >>

Revenue Recognition Issue 10 – Special Focus: Distribution

Companies that focus their efforts strictly in distribution may not think there is much change that could be required to their methods of revenue recognition. After all, they just take someone else’s product and ship it to their own. Read More >>

Revenue Recognition Issue 9 – Special Focus: Manufacturing

Sales in a manufacturing environment can take a wide variety of directions that would result in significantly different revenue recognition timing on a company’s financial statements. If your operation makes a very simple product that is sold on a. Read More >>

Revenue Recognition Issue 8 – Special Focus: Construction

As the new standards are being rolled out, the construction industry needs to address these standards as well as the unique accounting issues that the construction contractor faces with preparing their annual financial statements. There are several unique items. Read More >>

Study Identifies 5 Major Construction Risk Factors

It’s impossible to run any business without incurring risks, but the construction industry is riskier than most. Smart contractors do all they can to understand and mitigate the business threats they face so their businesses remain viable in times. Read More >>

Smart Factories and Blockchain: How to stay on the cutting edge of technology

Most manufacturers have already applied classic business management concepts, such as just-in-time production and continuous improvement initiatives, to enhance cash flow and efficiency. But those efforts might not be enough to stay competitive in a technology-driven marketplace. Here’s how. Read More >>

BMF Adds Two New Associates

We are pleased to announce the following professionals have joined our Northeast Ohio team. Sarah Dauerman, senior audit accountant, graduated from Ohio University and spent the past three years at a Columbus-based regional firm where she served on the. Read More >>