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ProfitSense

LGT StaffApril 25, 20232 min read

7 Tips on Preparing Your Business in a Downturn

As a business owner, preparing for a downturn is crucial to your ...
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Chadd DearenMarch 28, 20233 min read

Preparing Your Not-For-Profit for an Audit Under ASC 842

A set of accounting standards for leases is now mandatory for most ...
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LGT StaffFebruary 22, 20234 min read

Understanding the Inventory Turnover Ratio

If you run a manufacturing and distribution (M&D) company, ...
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Justin Lewis, CPAJanuary 25, 20234 min read

5 Reasons Internal Audit Functions are Vital for Your Business

An internal audit uses resources within the company to critically ...
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LGT StaffJanuary 24, 20234 min read

Single Audit Requirements for Nonprofits that Receive Federal Funds

Government funding brings some rather complicated reporting and ...
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Jon Wellington, J.D.January 24, 20232 min read

Increased Risk for Retailers: Changes to Public Law 86-272

When it comes to filing income tax returns in states where a taxpayer ...
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Justin Lewis, CPADecember 14, 20223 min read

7 Ways Construction Companies Can Prepare for a Possible Recession

Inflation and increasing interest rates have made many people nervous ...
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LGT StaffOctober 11, 20226 min read

Reducing Negative Effects from Poor Manufacturing Inventory Management

Your manufacturing company's lifeblood is often focused strongly on ...
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LGT StaffOctober 6, 20224 min read

Addressing Weaknesses in a Not-For-Profit’s Budget

Budgeting for the year ahead can often get pushed to the back burner, ...
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LGT StaffSeptember 13, 20224 min read

The 6 Best Ways to Strengthen Your Internal Controls

Whether you are a manufacturer or a distributor, operate in the ...
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Justin Lewis, CPASeptember 13, 20224 min read

Mitigating Cybersecurity Risks in the Construction Industry

Cybersecurity is a major concern for almost every industry, with each ...
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Babita Sherchan, CPAApril 11, 20223 min read

Comprehensive Guide to Planned Gifts for Nonprofits

Planned gifts, also called legacy gifts or deferred gifts, is an ...
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Eric MotteApril 11, 20224 min read

Balancing Inventory Costs for Manufacturing Profitability and Growth

For many companies, especially manufacturing firms, balancing your ...
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Matt Dobay, CPA, MAccMarch 15, 20222 min read

Record Retention Guide: How Long Should You Keep Your Tax Documents

With the winter season behind us and warmer weather ahead, spring ...
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LGT StaffMarch 15, 20224 min read

Developing and Maintaining a Nonprofit Planned Giving Program

Many nonprofit organizations develop planned giving programs to ...
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Aden Pham, CPAAugust 11, 20214 min read

Benefits of ESOPs for AEC Companies

Planning an exit strategy from your successful architecture, ...
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Babita Sherchan, CPAAugust 11, 20216 min read

Nonprofits Benefit from Effective Grant Management

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Josh WoodsJune 14, 20214 min read

Give a C.R.A.P. About Your Design

Any marketing materials or graphics your company uses should follow ...
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Josh WoodsApril 9, 20215 min read

Master Your Budget: A 12-Step Guide to Building a Solid Financial Plan

Once you’ve determined your methodology for creating your budget, ...
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Sara Godecke, CPAApril 9, 20213 min read

Document Your Vendor Approval Process to Avoid Fraud

While other types of business fraud may capture the headlines, you ...
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