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About Our Staff – Fall 2018

September 18, 2018 BMF InsightsInfoLetter BMF

To support the continued growth of our practice, we are pleased to announce the following additions to our professional staff: Sarah Dauerman, senior audit accountant, graduated from Ohio University and spent the past three years at a Columbus-based regional. Read More >>

Take Control: Your Nonprofit’s Future Starts with a Strategic Plan

Every organization can benefit from a strategic plan that defines its mission and values and outlines strategic goals and the steps necessary to achieve them. Frequent adjustments and updates can keep the plan relevant to your changing environment. If. Read More >>

4 Questions to Ask Before Hiring Household Help

When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes, and possibly federal and state unemployment insurance.. Read More >>

Nasty Numbers: 7 red flags to watch out for in your financial statements

Financial statements show not only where a construction company stands financially, but also where it may be headed. Contractors who work with their financial advisors to analyze their statements can often catch problems early on — before they turn. Read More >>

Leases and Contract Revenue: Get ready to roll out the new accounting standards

Two major accounting rule changes will soon go into effect — and they’re expected to have major impacts on how many manufacturers and distributors report their financial results. Here are the details, including what’s changing, when the changes must. Read More >>

Partner’s Perspective: Should You Change Your Business – or Transform it?

As the market and technological needs evolve, every company needs to change in some way. There’s even a formal term for the undertaking: “change management.” From an operational standpoint, change involves opening the hood and switching out old engine. Read More >>

401(k) Plan Loans: What Are Employees’ Options When They Depart?

Employees who have outstanding 401(k) plan loans when they leave their job are sometimes faced with the difficult quandary of needing to repay the loan in full within 60 days of termination of employment. If the loan isn’t repaid. Read More >>

Sullivan Selected to Leadership Cleveland Class of 2019

We are pleased to announce that Karyn M. Sullivan, CPA, Chief Operating Officer at BMF, has been selected as a member of the Leadership Cleveland Class of 2019. Now entering its eleventh year, Leadership Cleveland is an intensive 10-month. Read More >>

Getting Ready for the New Revenue Recognition Standards

In one of the most significant changes to U.S. GAAP in years, the new revenue recognition standards go into effect for private companies for years beginning after December 15, 2018. For many, this will require significant effort to evaluate. Read More >>

Revenue Recognition Issue 5 – Determine the Transaction Price

In many contracts with customers, the transaction price is fairly obvious; however, oftentimes it is not and requires significant interpretation. For example: Are there variable pricing components under the contract (like rapid payment incentives, quantity purchase discounts, penalties for late. Read More >>