CLEVELAND--()--With its second Tampa-area merger in less than a year, Skoda Minotti has merged with Dowell & Perez, P.A., positioning Tampa as its second-largest business market in the country. Specific terms of the deal were not disclosed. In July 2012, Ohio-headquartered Skoda Minotti merged with Tampa CPA firm Baumann, Raymondo & Co.
“Good things are happening in Tampa, and we are excited to join Skoda Minotti,” says Dan Dowell, CPA, former Dowell & Perez president and now...
Read More >>On May 16, 2013, the FASB (Financial Accounting Standards Board)
and IASB (International Accounting Standards Board) issued a
revised joint exposure draft (ED) on leases that, if adopted, would
pose significant changes for both lessees and lessors. As we
informed our readers in December in our Accounting Insights
Newsletter, the FASB was working on a revised ED on accounting for
leases that was originally published in August 2010.
The primary difference between the original release in 2010 and...
This month's Special Delivery includes:
Free E-Book...
Read More >>As an independent member of the BDO Seidman Alliance, we are pleased to provide you with this informative update on the mergers and acquisitions climate. If you have any questions, please contact one of the professionals in our Merger and Acquisition Services group by calling 440-449-6800.
M&A Activity Update
2012 M&A activity, remaining mostly flat compared to 2011, saw
an increase of 1.1 percent in aggregate deal value and 3.5 percent
in the number of closed deals, thanks in part to a surge...
Thanks for reading this six-part series of blogs aimed toward improving your ability to collect accounts receivable, authored by e2b teknologies . You can still sign up for the April 10th webinar entitled, “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
Cash flow is the lifeblood of every business and slow paying customers can seriously affect it. There are four fundamental best practices that every business should implement to...
Read More >>Over the next several weeks, we’re pleased to host a series of blogs authored by e2b teknologies aimed at improving your ability to collect accounts receivable. In addition, on April 10, e2b will be hosting a free live webinar entitled “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
1. Send the invoice in a timely manner. If your customer doesn’t have the invoice it can’t get paid. Further, invoices that come months after the fact can...
Read More >>Over the next several weeks, we’re pleased to host a series of blogs authored by e2b teknologies aimed at improving your ability to collect accounts receivable. In addition, on April 10, e2b will be hosting a free live webinar entitled “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
6 Tips for Getting Paid Faster & Avoiding Payment Objections
In most small businesses the person who is responsible for making collection calls is not a...
Read More >>Over the next several weeks, we’re pleased to host a series of blogs authored by e2b teknologies aimed at improving your ability to collect accounts receivable. In addition, on April 10, e2b will be hosting a free live webinar entitled “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
As we all know, cash flow is the lifeblood of every business. Having sufficient cash can be the difference between success and failure and it is a concern that...
Read More >>Over the next several weeks, we’re pleased to host a series of blogs authored by e2b teknologies aimed at improving your ability to collect accounts receivable. In addition, on April 10, e2b will be hosting a free live webinar entitled “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
Two things are true for most businesses:
1) a significant percentage of sales (and therefore receivables) are concentrated in a small percentage of customers
2) ...
Read More >>Over the next several weeks, we’re pleased to host a series of blogs authored by e2b teknologies aimed at improving your ability to collect accounts receivable. In addition, on April 10, e2b will be hosting a free live webinar entitled “6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan. You can sign up here.
If you offer credit terms then you probably have an accounts receivable collections problem and you don’t even realize the negative impact that it’s having on...
Read More >>This month's Special Delivery includes:
Update Your Email Preferences
As business advisors, we want to make sure we are providing our clients and business contacts with messages and updates relevant to your individual and/or...
Read More >>Starting a successful business requires more than a great idea, it requires funding. Beyond your traditional sources - banks, credit unions, loans from family or friends - there are other options.
See Seeking funding for your startup? Consider nontraditional sources on Crain's Cleveland Business's Guest Blog for more information.
Convincing Third Party Users
Many third party users of an SME’s financial statements require GAAP basis financial statements. For example, credit agreements with lending institutions often refer to the need to have financial statements prepared in accordance with GAAP, even though they may not be as useful in some cases as statements prepared under another principles-based framework, such as the FRF.
The FRF for SMEs will not have the official or authoritative status of GAAP. However, it can be...
Read More >>Differences Between the Proposed FRF and Current GAAP
The proposed FRF contains significant differences from current GAAP. There is much more use of historical cost basis in accounting for assets, as opposed to the migration to fair value that GAAP has made over the last several years. Some other differences include accounting for income taxes, goodwill and other intangible assets, other comprehensive income, financial instruments, investments, and consolidation of variable interest entities.
The...
Read More >>Current Rules-Based Approach & New, Practical
Principles Based Approach
Current Rules-Based Approach
Current U.S. Generally Accepted Accounting Principles (“GAAP”) are very much a rules-based system that, in general, employs a “one size fits all” mentality. In other words, small to medium-sized entities (“SMEs”) are subject to the same basic set of accounting rules as large publicly traded companies, with only some very limited exceptions. Having to follow all of the same financial reporting...
Read More >>When selling your company, parting with it can be difficult. You’ve spent countless hours growing the business from a small operation to the enterprise it is today, and that shouldn’t be minimized. But decision making in the early stages of this process can be guided more by emotion than logic.
As the project progresses, however, emotion lessens and upfront planning on both sides predicates whether the deal is finalized.
Almost always when a deal doesn’t work, it’s because the proper things...
Read More >>This month's Not-for-Profit Update includes:
This month's Special Delivery e-newsletter includes:
What’s Next Under the Health Care Law?
In a historic decision, the U.S. Supreme Court has upheld virtually all of the Affordable Care Act, the massive health care law enacted in 2010. Now that the dust has settled,...
Read More >>Note: Click here to view the new Skoda Minotti Technology
Partners website.
Back in March, you may remember us introducing a
new brand color for our Strategic Marketing group. Now, just a
few months later, we’re pleased to announce that we’re adding yet
another new color to the Skoda Minotti palette.
Skoda Minotti, like all growing companies, is evolving and as we evolve, our brand(s) needs to evolve with us. Although you may know Skoda Minotti more as a CPA firm, we really are a complete...
Read More >>This month's Special Delivery e-newsletter includes:
Entering a Roth via the Back Door
For some high-income taxpayers, the door to Roth IRA contributions
has been slammed shut due to annual limits imposed by the tax law.
But an innovative strategy can enable you to contribute to a Roth
through...
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