Articles by Mikaela J. Knutson
CPA
Principal
Mikaela Knutson is a Principal in BeachFleischman’s Accounting & Assurance department. She brings over a decade of expertise in accounting, auditing, and financial statement services. Since 2010, she has served a diverse range of privately held businesses, specializing in the construction industry and employee benefit plan practice.
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Fraud risk assessment: Key focus areas for auditors
Why do external auditors ask so many probing questions about fraud? They’re not just nosy. It’s a critical part of the audit process.
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Exit strategy for construction companies: Is an ESOP the right fit?
Discover how ESOPs can provide construction company owners with a tax-advantaged exit strategy that preserves their legacy and empowers employees.
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Essential cash flow management tips for construction companies
Are cash flow concerns keeping you up at night? Here are some fundamental ways for construction business owners to stay in control.
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Liquidity overload: Why having too much cash may be bad for business
Businesses often stockpile cash during times of uncertainty. But this could be an inefficient, and costly, use of capital.
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6 ways construction companies can strengthen cybersecurity
Cybersecurity matters for construction companies, too. Here are six ways to fortify your defenses.
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3 big inventory issues for construction companies
Construction businesses can save time and avoid hassle by maintaining an inventory of critical materials and supplies. But managing that inventory for tax purposes can be challenging.
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FASB votes to exempt private companies from disaggregation of income statement project
As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB’s project to up the ante on expense disclosures.
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New accounting rules for supplier finance programs
Newly issued rules on how to report supplier finance programs will provide critical information on the financial health of companies. Here’s what you should know if your company participates in these kinds of arrangements.
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FASB proposes last-minute changes to lease accounting rules
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon.
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Using agreed-upon procedures to target specific items of concern
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
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Private business owners: Don’t wait until year-end to evaluate financial performance
The year is almost half over. Is your business on track to meet its goals for 2022? Interim financial reporting can help gauge your progress.
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3 numbers to know: costs, markup, and profit
“Let’s pretend we’re in business to make money,” goes an old, sarcastic joke. Construction companies can build their bottom lines by mastering three key profit numbers.