Category Archives: Updates

4 Ways to Uncover the Hidden Potential In Your Company

Successful Business Transition

There are many ways to increase the value of your business. One of the easiest is to uncover the hidden potential we all have right at our fingertips. I’m referring to using what you already possess to drive sales, improve productivity, increase operations efficiencies and the list goes on. Here are four ideas to reveal UNTAPPED POTENTIAL within your company.

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Nine Personal Things Owners Do When Thinking About Business Transition, Whether They Realize It Or Not

Successful Business Transition

Review their current will. Take a hard look at their personal finances. Plan longer vacations. Work with a personal trainer or at least walk more. Downsize their home. Manage the affairs/care of an aging parent. Attend graduation of and or marry off their youngest child. Re-purpose the extra bedroom. Investigate locations for a winter home. Do you know an Owner

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TheGAAP.net and TFN presented Business Transitions sponsored by Jeffrey Gregory on June 26, 2018

TheGAAP.net and TFN presented Business Transitions sponsored by Jeffrey Gregory. Compilation by Solvia Lo. The GAAP.net & TFN delivered another fun and educational event on June 26 at the beautiful Weston Golf and Country Club. Speaker Eric Gilboord kept us engaged telling us stories about Business Transition. It was very informative and entertaining at the same time. Check out his

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AASB Decision Summary – July 10, 2018

The Board discussed Auditor Reporting and Identifying and Assessing the Risks of Material Misstatement. As reported by The Standard. Also discussed was the approach to input on the AcSB’s Draft Framework for Performance Measures and survey on the IAASB’s future strategy. Read now! Visit TheGAAP.net daily to be kept up to date on accounting information, trends and changes.   For

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Beware The Net Worth Audit: PART TWO: Five Major Pitfalls

biggest fears in accounting

Five Major Pitfalls    1.      The Methodology Is Inaccurate 2.      The Methodology Is Punitive When Not Applied Conservatively 3.      There Are Routine Errors in Its Application 4.      One-Size-Fits-All Application of Statistical Data Is Flawed 5.      The Method Is Used Even When Contraindicated   1. The Methodology Is Inaccurate   There is no argument about it.  Even the CRA recognizes that

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3 Key questions from – ‘A tale of three sons.’​ Extended Version

Some food for thought before handing your business over to a next generation family member. ​ I remember meeting the Owners of a small business. He had worked hard and the company had provided his family with a comfortable life. There were 3 sons. One worked occasionally in the business, wasn’t suited to take over and never really did much

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Approved! Exposure Draft of a Proposed New Standard on Compilation Engagements

The AASB unanimously approved an exposure draft of a proposed new standard on compilation engagements to replace Section 9200, Compilation Engagements. Set to be issued September 4, 2018, comments will be due November 30, 2018. As reported by The Standard. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay

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