The manufacturing industry continues to grow, even with labor and supply chain challenges. According to the May 2022 Manufacturing ISM Report, the US manufacturing sector's economic activity grew for the 24th consecutive month. The May 2022 Manufacturing PMI index was...
Due to the disruption in the global markets and forced shutdowns, the COVID-19 pandemic has led to conditions that negatively affected most manufacturers. Noticeable effects of the pandemic include weak commodity prices, trade tensions, and restrictions, such as with Canada.
Success in the manufacturing industry requires pushing your shop floor to run faster, leaner, and more efficiently. It also requires you to have sound systems in place to monitor and control all operation phases.
Many of the activities that manufacturing companies participate in may qualify them for tax credits and deductions.
Budgets are an important tool a manufacturing company can use to help increase revenues, improve efficiencies of operations, improve services, and may even help to boost employee morale.
The pandemic has caused severe financial and operational disruption in the manufacturing industry. Our industry experts have created and compiled several resources to help you tackle these challenges to navigate these unprecedented times.
Good accounting practices are an important tool for managing a manufacturing business. Given the industry's uncertainty, it is crucial to fine-tune financial statements for users of them to review reliable information. We have provided a guide below highlighting...
In general, manufacturing companies are great candidates for the various tax credits the Internal Revenue Service (IRS) offers. One of the most popular is the Research and Development (R&D) Tax Credit.
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