Facilitating a Smooth Independent Audit

Few of us enjoy taking tests, and unfortunately that’s what independent audits sometimes feel like. Even if you have no reason to be anxious about what your nonprofit’s auditor will find, preparing for and accommodating an audit can be stressful for you and your staff. But if you understand what the process entails and ensure […]

Find Corporate Sponsors for your Special Event

Your special event’s attendees are critical to its success. But for any successful fundraiser, individual participants and donors are only half the equation. Corporate sponsors are the other half, whether they’re local businesses, Fortune 500 companies or in-kind service providers. Here are five tips for finding — and keeping — these valuable supporters. 1. Don’t […]

How Ethical is Your Organization? – Be Sure to Document it

Whether it’s in the business, government or nonprofit sector, ethics seem to be on everyone’s minds these days. To ensure your supporters and community understand your organization’s values and the policies that uphold them, a formal code of ethics is essential. Rules of conduct You probably already have a mission statement that explains your values […]

From $0 to $2 Million: 3 Traits of Growth-oriented Nonprofits

What does it take to grow a nonprofit from a concept to a $2 million-plus revenue organization? A November 2016 study attempted to answer this question by surveying 200 social entrepreneurs funded by impact investing portfolios such as the Skoll Foundation and Silicon Valley Social Venture Fund. Even if your organization’s growth goals are relatively […]

Did You Pay Too Much In Taxes?

With the tax filing season behind us for 2017, now would be a great time to look through your company’s income tax returns to make sure you are getting all of the tax benefits afforded specifically to manufacturers.  Federal and state tax laws have expanded various deductions, credits and special tax rates to manufacturers, and […]

Combining Liquidity and Efficiency Metrics

How long does it take your company to convert raw materials to cash collected from customers? The cash conversion cycle is a financial metric that answers this critical question. Here’s a closer look into how it’s calculated and what it means. Liquidity vs. turnover Liquidity ratios tell whether the company’s current assets are sufficient to […]

Spotlight on the Research Credit

After being continually renewed since the 1980s, the research credit was finally made permanent under the Protecting Americans from Tax Hikes (PATH) Act. This change allows manufacturers to plan (with certainty) for their R&D expenditures. And it’s expected to survive any tax reform legislation that will pass in 2017. Here’s an overview of the current […]

How to Reduce Waste

Scrap materials sometimes pile up on the shop floor, especially when a plant ramps up production to meet peaks in demand. Excess scrap can lead to safety issues and cleanup costs — but waste extends beyond trash in a manufacturing context. Here’s an expanded definition of “waste” and some cost-effective ways to help reduce it. […]

Get Ready to Roll Out the New Accounting Standards

Two major accounting standards 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 be implemented and how they’ll affect financial statements. A new lease on leases Of the […]

Checking the Backgrounds of New Hires

An average of 178,000 employees per month were added to the payrolls of employers in the United States in 2016, according to an “Employment Situation Summary” released in December by the U.S. Bureau of Labor Statistics. And the pattern of a significant number of new hires per month is expected to continue into the New […]

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