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COVID-19 Safety Guidelines for Akron Office

We’re excited to continue welcoming back staff, clients and visitors to our Akron Office. To help limit exposure in our office environment, we ask that all associates and visitors adhere to our safety guidelines and social distancing practices.

Articles & Publications

BMF Recognized AS A 2020 Top 200 Firm by INSIDE Public Accounting

For the second consecutive year, we have been recognized by INSIDE Public Accounting (IPA), based on the 2020 annual IPA Survey and Analysis of Firms, as a Top 200 Accounting Firm in the nation! The IPA’s annual rankings of. Read More >>

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Bonus Depreciation and Sec. 179 Expense – What’s the difference?

Many business owners, especially in the manufacturing sector, were pleased that the Tax Cuts and Jobs Act (TCJA) expanded the first-year bonus depreciation and the first-year Section 179 deductions. These two tax breaks are lucrative for capital-intensive manufacturers, who. Read More >>

4 Steps to an Effective Fraud Prevention Strategy

Fraud perpetrated against a company can result in significant damages and recent data suggests that fraud losses at manufacturing companies can be particularly devastating. According to the 2018 Report to the Nations published by the Association of Certified Fraud. Read More >>

Manufacturing Business Expenses: 4 Tips for Deducting Meal & Entertainment Costs

Manufacturing owners have numerous questions around travel and entertainment expenses when attending trade shows, visiting with customers, meeting with suppliers, golf outings and other business trips. The rules and record-keeping can be a nightmare for the accounting team and. Read More >>

Measuring Product Profitability: The Power and Pitfalls of Gross Profit Margin

Let’s start off with a story to show you the power of your gross profit margin: Company A sells 1,000 widgets to three customers at a 20% gross profit of $600. Company B sells 1,000 widgets to 300 customers. 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 >>

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 >>

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 >>

Loan or Lease: What’s the smartest way to finance new assets?

If your company needs to expand its facilities or update equipment, you may be weighing the pros and cons of financing vs. leasing. There are many factors to consider when deciding which option is best for your company. We’ve. Read More >>

Manufacturing Insights: Human vs. Robot – Carefully Weigh the Pros and Cons of Automation

Manufacturers and distributors face rising costs of labor and benefits, burdensome government regulations and, more importantly, a shortage of skilled workers. In light of these human resource challenges, investing in automated equipment may seem like a smart alternative to. Read More >>