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So far CRI has created 511 blog entries.

Manufacturing Product Costing

Manufacturers should have a firm grasp on how much it costs to produce their products. This knowledge ensures that they can control expenses, account for future production needs, isolate inefficiencies, set appropriate prices on produced merchandise, and improve profit margins. Understanding production costs also allows a company to respond more effectively to changes in the [...]

2019-06-13T10:39:16+00:00May 9th, 2019|MANUFACTURING & DISTRIBUTION|

How Predictive Maintenance Helps Manufacturers Prevent Production Delays

The breakdown of a major piece of manufacturing equipment triggers a domino effect of halted production. This unexpected shutdown usually results in costly last-minute repairs, late or canceled orders, and angry customers. Manufacturers who conduct predictive maintenance on machines and equipment can reduce the risk of an unexpected breakdown. Understanding Predictive Maintenance A manufacturer can [...]

2019-06-13T13:10:08+00:00May 7th, 2019|MANUFACTURING & DISTRIBUTION|

Seven Keys to Improving Medical Practice Cash Flow

No matter what specialties their physicians may have, healthcare practices must focus on collecting payments to remain profitable. Here are seven ways that practices can more accurately track patient collections. 1. Educate Personnel Personnel plays a significant role in the collection process. Delegating collection responsibilities to different staff members can improve a practice’s collection performance. [...]

2019-03-14T15:11:44+00:00February 23rd, 2019|HEALTHCARE|

Physicians: Remember to Add Quickbooks Accountant’s Copy to Toolbox

Medical practices often look for ways to maximize operational efficiencies, and they often need professional assistance with their accounting records – monthly, quarterly, or annual. How can a practice that uses QuickBooks® accounting software save time and money? The answer is by using an often overlooked feature known as the QuickBooks Accountant’s Copy (QAC). It allows [...]

2019-04-05T10:07:00+00:00February 12th, 2019|HEALTHCARE|

Improve Manufacturing Company Profitability

While a strengthening economy has provided a much improved operating environment for manufacturing companies, strong management teams should constantly be focused on improving margins. Here are four steps a company can take to increase margins and improve its profitability. 1. Begin evaluating the manufacturing company's pricing strategy for those products and/or services with the lowest [...]

2019-06-13T13:37:06+00:00February 9th, 2019|MANUFACTURING & DISTRIBUTION|

How Manufacturers Should Account for Excess Capacity

Just as consumers have to abide by the load capacity of their washers and dryers, manufacturers should set up their businesses to handle certain production capacities. Based on past and projected future sales levels, they invest in machines, buildings, materials, and laborers to meet anticipated needs. In spite of these investments, a manufacturer sometimes experiences [...]

2019-06-13T12:05:26+00:00February 5th, 2019|MANUFACTURING & DISTRIBUTION|

3 Questions for Easing the Seesaw of a Seasonal Product Cycle

Manufacturing and distribution companies that handle seasonal merchandise know that correctly managing supply and demand can be the difference between having a warehouse with minimal inventory (which is ideal) and carrying the burden of leftover inventory (the result of poor planning) after peak season. Accurately forecasting the demand for seasonal merchandise is difficult because of [...]

2019-06-12T15:08:16+00:00February 3rd, 2019|MANUFACTURING & DISTRIBUTION|

A Look at Internal Controls and Processes for Evaluating Vendors

Manufacturing and distribution companies should appraise vendors through various lenses since they are such an integral part of the company’s success. Given all of the discussion related to the increase in fraudulent activities, it is a good idea for businesses to incorporate an evaluation of internal control processes for accounts payable and vendors. Here are [...]

2019-06-12T16:51:41+00:00January 12th, 2019|MANUFACTURING & DISTRIBUTION|

Back to Basics: Inventory Control and Generating Cash

Excess inventory can reduce cash reserves (typically used to cover unexpected expenses during uncertain economic periods) and create a strain on a manufacturing or distribution company’s ability to pay unanticipated expenses. Therefore, tough times require companies to get back to the basics of controlling inventory to generate cash. While inventory turnover declines when a company's [...]

2019-06-13T09:19:57+00:00November 8th, 2018|MANUFACTURING & DISTRIBUTION|

Natural Disasters: 3 Tips for Safeguarding Tax Records

Don’t let a natural disaster become a tax disaster too. Be sure to protect your tax records and other valuable information. This time of year it is especially important to utilize the tips below in preparation for hurricane season. 1. Electronic Backup Taxpayers should always keep a set of backup records of all important documents [...]

Love, Marriage, and Uncle Sam: How Getting Married Affects Your Taxes

Newlyweds have a lot to think about after getting married, and taxes aren’t always at the top of the list. However, it is always important for a new couple to consider how the nuptials may affect their tax situation and filing status. CRI has some tips to help you plan for your new life ahead. [...]

2018-11-12T15:42:43+00:00June 14th, 2018|INDIVIDUAL PLANNING|

Start From the T.O.P Down: Ways You Can Improve Your Organization’s Cybersecurity

Until the last couple of years, data breaches seemed to be the domain of major corporations—Target, Home Depot, Sony, JP Morgan. However, in recent years, as businesses of every size become increasingly reliant on data and information systems, it is becoming clear that no business is too small to be a target. And yet, only [...]

2019-02-15T11:40:37+00:00May 24th, 2018|CYBERSECURITY|

Avoid Counting on Depreciation Too Early with Placed-In-Service Rules

“Don’t count your chickens before they hatch” is an adage that reminds us to be wary of putting our hope in something that has not yet happened. This phrase is especially true when it comes to depreciation. Although when depreciation begins on an asset may not always be clear, the consequences of an early start [...]

2018-11-12T15:42:45+00:00May 24th, 2018|TAX SPECIALTY SERVICES|

5 Exercises to Rehabilitate Retirement Funds

Stock market crashes. Healthcare emergencies. Investment nightmares. Many Americans who had built a nest egg that they thought would ensure a comfortable retirement have found themselves suddenly scrambling to refill their retirement fund coffers after these types of unexpected crises. Is a healthy retirement still achievable after such a blow? Yes, but building a healthy [...]

2018-11-12T15:42:45+00:00May 21st, 2018|INDIVIDUAL PLANNING|

Steering Clear of Bookkeeper Liability Hazards

For some business owners, bookkeeper liability could be cause for concern. Whether you maintain the books for your own company or you delegate that task to an internal or outsourced bookkeeper, it pays to understand the responsibilities inherent in the role. After all, protecting your most valuable assets — your employees — is critical to [...]

2018-11-12T15:42:49+00:00March 26th, 2018|CLIENT ACCOUNTING SERVICES|

Four Must-Have Features When Selecting an Auditor

A company should insist on specific qualities and characteristics from the auditor it chooses to ensure that its accounting and reporting arms are working properly. To guarantee that the audit process goes smoothly, we’ve listed four must-have features when it comes time to consider the auditor selection process. Experience Speaks The expertise of an audit [...]

2018-11-28T21:02:07+00:00March 15th, 2018|AUDITS, REVIEWS & COMPILATIONS|

How Outsourcing Can Benefit Your Business

Business owners regularly find themselves asking, “How can I accomplish more with the same or fewer resources?” They ask because of the significant amount of changes introduced by a number of increasingly complex tax laws, accounting standards, and regulatory requirements. Simultaneously, companies experience greater challenges recruiting professionals with the right skills. It’s no wonder, then, [...]

2019-02-18T16:27:09+00:00March 1st, 2018|CLIENT ACCOUNTING SERVICES|

New to Federal Contracting? Read on Before Hanging Your Shingle

A business does not have to produce aircraft carriers to work with the federal government. Firms specializing in information technology, systems engineering, and testing and evaluation are good examples of businesses that are involved in federal contracting (without making aircraft carriers). Government contractors must follow complex rules and regulations to comply with awarded federal contracts, [...]

2018-11-12T15:43:00+00:00February 26th, 2018|GOVERNMENT CONTRACTING|

View From The Top – Nonprofit Board Review of Form 990

While it is true that the annual Form 990 each nonprofit organization must file with the IRS is filled with numbers, it also contains much more. The Form 990 provides insight into the organization and how it functions and—unlike tax reports of other entities—is a document that must be made available to the general public. [...]

2018-11-12T15:43:09+00:00February 7th, 2018|NONPROFIT REPORTING STANDARD, NOT-FOR-PROFITS|

Captive Insurance Taxation

A captive insurance company (or “captive”) is a licensed insurer generally established to meet the risk management needs of a specific company or group of companies. Captive structures are primarily formed either to supplement existing insurance coverages, fund blocks of risk exposures, or provide coverage for atypical risks. Utilizing captive programs enables businesses to manage [...]

2019-03-06T12:57:58+00:00January 30th, 2018|BUSINESS TAX, CAPTIVE INSURANCE, INSURANCE|