Women-Owned Small Business Federal Contracting Program The goal of the SBA programs for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) is to award at least five percent of all federal contracting dollars to women-owned small business each year. These programs help provide a level playing field for women business owners. These contracts are for industries where women-owned small [...]
Covid-19: The Largest Stimulus Bill Proposed by Congress This $2 trillion package from Congress is set to be used to "issue direct checks for American families, bailouts for the airline industry and a $350 billion loan program for struggling small businesses. The other $4 trillion, will allow the Federal Reserve to make huge emergency bailouts to whatever entity it chooses [...]
Working remotely to be as efficient and healthy as possible: In response to the COVID-19 pandemic, the Center for Disease Control (CDC) recommends that employers explore whether they can establish policies and practices, such as flexible worksites (e.g., telecommuting) and flexible work hours (e.g., staggered shifts), to increase the physical distance among employees and between employees and others if state [...]
Forecasts and projections in business are a great way to estimate the future financial position of the company. Forecasts Versus Projections As accountants, clients often ask, “What is the difference between a business forecast and a projection?” In simple terms, forecasts make assumptions based on business history, while a projection adds proposed considerations into the calculation. Perhaps you are considering [...]
Company Theft Scenario Company theft is undetectable in most small businesses. This scenario is commonly seen by our staff when company theft and fraud occur. Sophie arrived at work a little late that morning. It was 7 am. After parking her car, she hurried to unlock the door quickly, turn on the lights, and get the coffee pots started for [...]
Revenue from Contracts with Customer ASU 2014-09 standard is effective for nonpublic entities for annual reporting periods beginning after December 15, 2018. This means that entities with a calendar year-end need to adopt the standard for the year ended December 31, 2019. Under the new guidance, there are five steps in the revenue recognition process, which reflect the transfer of [...]
Institutional Grants are coming to Pennsylvania Private Licensed Schools After January 27, Act 110 of 2019 goes into effect. One aspect of this Bill ushers in an important new era for Pennsylvania Private Licensed Schools. For the first time in history, these schools will be allowed to award various types of institutional grants to their students. While this practice has [...]
We Gladly Welcome Maria Stromple as Partner to Wilke & Associates, CPAs & Business Advisors. Maria's Experience Maria Stromple has more than 30 years of public accounting experience servicing closely-held businesses in manufacturing, real estate, wholesale distribution, transportation/logistics, insurance, and technology industries. Her diversified experience includes federal and multi-state compliance and comprehensive strategic tax planning for businesses. Maria has participated [...]
Everyone is at risk of cybertheft. The size of your company doesn't matter. The size of your bank account doesn't matter. Cybertheft is the fastest growing crime in the U.S. according to a report from CNBC. By 2021, cybercrime is projected to cost the world more than $6 trillion yearly as reported by Cybersecurity Ventures. Forbes reported that cybercriminals are [...]
Accounting is a practice and an art. Accounting is a practice since a particular accounting method can be employed to report your company’s financial position to make decisions that best suit your tax liability, communicate your business’ value, and evaluate long-term goals. Accounting is an art because your business and your finances are unlike any other businesses – your company [...]
