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A-Z Blog

Why can’t my profitable business pay its bills?

July 13, 2023 Kristin Marie Koenig Assurance cash flow, GAAP

Bills, bills, bills! From utilities and payroll to taxes and supplies, there’s always a bill that needs to be paid when you own a small business. When cash is short, it pays to understand the differences between profits and cash flow.

3 big inventory issues for construction companies

July 12, 2023 Mikaela Knutson and Kristin Marie Koenig Construction inventory

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.

Why some small businesses are switching to tax-basis reporting

July 10, 2023 Lydia Hunter Assurance financial reporting, lease accounting, leases

Are you fed up with all the recent accounting rule changes? For many private companies, the new lease standard that went into effect in 2022 was the last straw. Here’s an alternative reporting framework to consider.

Turning receivables into cash

July 6, 2023 Tori Meyer Outsourced Accounting Services, SOAR accounting procedures, receivables

Collecting cash from customers takes time and patience. To bridge the cash gap, consider these creative strategies to monetize outstanding receivables.

Virtual currency lands in the IRS’s crosshairs

July 5, 2023 Gina Khawam Tax Bites cryptocurrency, Fiscal Responsibility Act, IIJA, tax implications

If you do business with virtual currency, it’s time to bone up on related tax requirements. The IRS is paying closer attention.

Should your construction business invest in custom software?

July 5, 2023 Tracy Hughes Construction construction, software

Construction business owners: Is off-the-shelf software not meeting your needs? It could be time to create a custom solution, but you’ll need to first consider various factors.

What’s in the Fiscal Responsibility Act?

June 6, 2023 Kim Paskal Tax Bites federal deficit, Fiscal Responsibility Act

With a financial crisis averted, let’s take a look at the highlights of the Fiscal Responsibility Act.

5 tips for avoiding profit fade

May 30, 2023 Kristin Marie Koenig Construction financial performance, profit face

Experienced contractors know the pain of seeing a potentially lucrative job incur costly losses. Here’s how to fight back against profit fade.

FASB votes to exempt private companies from disaggregation of income statement project

May 26, 2023 Mikaela Knutson Assurance FASB, Private Company Council

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.

Overview of discontinued operations reporting

May 23, 2023 Jennifer Randle Assurance financial reporting, reporting requirements

In today’s uncertain markets, your business may decide to discontinue unprofitable product lines or business units. Are you up to speed on the accounting rules for reporting discontinued operations?

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Recent Posts

  • Arizona Tax Credit Alert 2023 September 22, 2023
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Accountants | Auditors | Advisors | Consultants | CPAs :: BeachFleischman PLLC is the largest locally-owned public accounting and consulting firm in Southern Arizona and a Top 200 CPA firm in the United States. Serving clients in Phoenix, Tucson, Mesa, Scottsdale, Tempe, Gilbert, Glendale, Flagstaff, and Chandler, BeachFleischman provides accounting, audit, consulting, and tax services to businesses, organizations, and individuals (U.S. and foreign-based), doing business domestically and internationally. The BeachFleischman logo, BEACHFLEISCHMAN, and COLLABORATE FORWARD are all registered U.S. trademarks of BeachFleischman PLLC. ©2023 BeachFleischman PLLC. All rights reserved.