News

Small businesses that operate in the Greater Houston area and the surrounding regions of the Gulf Coast know how quickly an interruption can happen. Typically, this occurs during hurricane season when a sudden disruption could affect your ability to run a business. This year’s global pandemic and the associated economic crisis certainly fits the category […]

This year’s workplace disruption has created a challenging situation for small business owners to support business integrity. One area of concern is being able to detect hidden signs of fraud in business activity, particularly when employees are working from home. While many employees will work with integrity no matter their work environment, other employees may […]

As you approach retirement age, you may start thinking about succession planning for your small business. You need a plan to protect the business that you’ve worked so hard to build. A succession plan gives you peace of mind and prepares your business for when you’re gone, or in case the unexpected happens. Even though […]

For companies in manufacturing, fabrication, automotive, and similar industries, one of the primary benefits of using QuickBooks Online is improving your time tracking system. Instead of relying on manual time entries and paper recordkeeping, QuickBooks make it easy to import timesheets and create automatic processes around time tracking through TSheets. This system ensures more accuracy […]

One of the highlights on the calendar for our CPA firm is attending the annual Economic Forecast Luncheon presented by the Greater Heights Area Chamber of Commerce. This year’s luncheon took place on Thursday, January 30 at Sheraton Brookhollow Hotel. We were provided with an insightful look at the Houston economy in 2020, specifically the […]

One of the primary drivers of the new ASC 842 lease accounting standard is to provide more comparable, transparent, and reliable financial information to financial institutions. While the process of adopting ASC 842 is a painstaking endeavor, it should ultimately help bankers and financiers more accurately assess your company’s financial position when making lending and […]

When you think about costs associated with running a business, your mind probably jumps to monthly expenses, insurance, or long-term debt paydowns. You may not think about fraud as a cost, but it can have a tremendous negative impact if left undetected. According to the 2018 ACFE Fraud Report to the Nations, organizations lose five […]

One of the most significant accounting changes this decade is the introduction of a new accounting standard, ASC 842, that will affect how business leases are accounted for. The new lease accounting standard affects all types of businesses — publicly traded, privately held, and non-profits. Fortunately, the ASC 842 effective date has been extended to […]

Our CPA firm has been privileged to work with car dealerships that provide excellent service and value to their customers. Unfortunately, many great car dealerships are financially impacted by internal theft. According to a recent report by the Association of Certified Fraud Examiners (ACFE), the average time to identify theft or fraud is 18 months […]

Succession planning is increasingly more relevant for today’s U.S. businesses that are run by baby boomers. According to statistics published by this business brokers association: Retiring baby boomer business owners will sell or bequeath $10 trillion worth of assets over the next two decades. Assets are held in more than 12 million privately owned businesses. […]