For the last 20 years, the Association of Certified Fraud Examiners (ACFE) has published a biennial study to raise awareness about occupational fraud. This article summarizes key findings from the 2016 Report to the Nations on Occupational Fraud and Abuse, including the costs and duration of fraud, common scams, and detection and prevention methods.Read More
Like many of you, I recently uttered the phrase “I can’t believe it’s July already.” Well, it is. So I thought I’d make a list of the things that I’ve learned over the first six months of 2017:Read More
Cash is an obvious target for dishonest employees bent on fraud. In addition to stealing cash on hand directly, dishonest employees may resort to thefts of cash receipts, such as skimming. This article explains how skimming works and what clients can do to prevent and detect it.Read More
Once every 10-20 years, most manufacturers and distributors shop for a new ERP system. Some go through a quick, simple exercise to determine if their current system is adequate for the near-term while others go through an entire evaluation and selection process that culminates with a purchase and replacement. Through our 20+ years of experience, Meaden & Moore has identified three approaches, each appropriate under their respective circumstances.Read More
The American Institute of Certified Public Accountants (AICPA) recently held their annual Employee Benefit Plans Conference. The conference provided information on current initiatives of the IRS and the DOL, as well as common findings noted based on their respective examinations and reviews of qualified plans.
In recent years, the IRS and DOL have indicated a focus on risk-based examinations and reviews, including identifying areas in plan operations where controls could be improved. As a result of these, they noted the following areas of focus:Read More
Builders risk claims often include numerous complex issues. Delay-in-Completion claims add a layer of complexity with General Conditions and Construction Loan Interest. Each can involve significant claim dollars, and may be a source of dispute and confusion. Part one of this series focused on General Conditions measurement deficiencies and considerations within Delay-in-Completion claims. Part two of this series focuses on Construction Loan Interest.Read More
The simple answer is yes. But what is your purpose for preparing one? How will it be used? And what can it do for your organization?
A budget is more than an excel template that needs to be completed as part of the monthly, accounting closing process. A budget should be a tool that is used to help the organization focus on their commitments and to achieve specific and well-defined goals. I have seen budgets used for two primary purposes or a combination of both: (1) planning and forecasting and (2) control and oversight.Read More
Below is an excerpt from our whitepaper, “You’ve Been Charged with Reducing Inventory. Now What?”, which provides a detailed look at various methodologies and ideas related to inventory reduction. For even more information on inventory reduction, our firm, or our services, contact us today.
APICS and college-level classes teach us the Economic Order Quantity (EOQ) formula, which approximates the proper make or buy quantity per item that balances ordering costs with inventory carrying costs.Read More
Topics: Tax Planning & Strategies
On May 4, 2017, the House approved the American Health Care Act (“AHCA”) along party lines by a 217-213 vote. The version of the AHCA approved by the House would repeal all of the ACA taxes, with the exception of the so-called “Cadillac” excise tax on high-dollar health plans (which would be delayed until 2025). The bill now moves to the Senate, where changes are expected. The following are the highlights of the tax-related provisions of the bill as approved by the House:Read More
Topics: Benefit Plan Advising & Auditing
Many plan sponsors create oversight committees for their qualified retirement plans. These committees are frequently called “investment committees,” “administrative committees,” or, simply, “retirement plan committees.” The duties of these committees are significant, and will typically include:Read More