During these uncertain times, many manufacturing companies face many challenges. Making cash flow a priority is something every manufacturing company owner needs to keep in the forefront of their mind.
On August 8, 2020, President Trump issued an executive order and three memoranda providing or extending COVID-19 relief to individuals and organizations. On August 28, 2020, the Department of Treasury and Internal Revenue Service issued guidance for implementing the memorandum’s payroll tax deferral portion.
Cost accounting aims to capture a company’s total production cost by assessing the variable costs of each step of production. It is a process of gathering, examining, summarizing, and evaluating various alternative courses of action.
Qualified Improvement Property (QIP) is now a 15-year, bonus depreciation eligible property, after the CARES Act provided a technical correction from Tax Reform in December 2017.
On August 8, 2020, President Trump issued an executive order and three memoranda providing or extending COVID-19 relief to individuals and organizations.
Internal fraud drains more than $3.7 trillion dollars annually from global businesses, according to the Association of Certified Fraud Examiners (ACFE). According to ACFE’s latest Report to the Nations, the median internal fraud loss in manufacturing and production companies is $194,000.