Business Advisory | Albin, Randall and Bennett

Presenting Financial Statements to Your Board of Directors

As a nonprofit organization, governance lies with your Board of Directors. The Board holds the ultimate responsibility for your organization, including tax and reporting compliance, and are tasked with upholding your organization’s mission, strategy, and goals. The decisions your board makes set your organization’s policies and procedures, and those decisions affect daily operations and your

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Recognizing the Value in Your Management Team

Attracting and retaining motivated and dedicated key employees should be crucial to any business plan, but it is all too easy to mistake for a “back-burner” issue in the midst of succession and exit planning. You’re worried about financial security, timing, the future of your company… is it really a time to have recruiting and

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DOL Announced Final Rule on Overtime

Which employees of your business qualify for time and a half? It’s time to reevaluate that question, namely at the executive, administrative, and professional levels. The threshold for exemption has changed. On September 24, 2019, the U.S. Department of Labor (DOL) announced a final rule on overtime. Effective January 1, 2020, the DOL estimates 1.3

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FASB Proposes Extended Effective Dates for Private Companies and Nonprofits

Yesterday the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update that changes the effective date for certain new accounting standards. Private companies and nonprofits will benefit from the additional time to evaluate and implement the new lease, expected credit loss (CECL), and hedge accounting standards. The following are the proposed new effective dates: Leases- years beginning after December

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