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How the Automotive Industry Can Position Their Accounting and Finance Functions for Lasting Success

Cherry Bekaert

These changes can bring opportunities for companies to better align themselves within the market and their customers, but also can have implications for accounting and finance functions within the industry as well. Every organization and accounting department has different needs and business drivers.

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Building a Strong Future: Succession Planning Options for the Construction Industry

Withum

It is estimated that only 30% of construction companies survive after the founder dies, and that number drops to 20% through the third generation. The purpose of this article is to provide a high-level overview of the various alternatives that construction businesses can consider as transition becomes a key factor to their survival.

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Understanding the proportional amortization method

ThomsonReuters

Accounting for tax equity investments Implementing ASU 2023-02 Accounting professionals with equity investor clients who are involved with projects to receive income tax credits and other income tax benefits need to have a clear understanding of the proportional amortization method (PAM), especially in light of recent changes.

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The Benefits of an ESOP for Architecture, Engineering and Construction Companies

Withum

Planning is the cornerstone of a successful company in the construction industry. are in the manufacturing, followed closely by construction (15.3%) and engineering (10.9%). Shares purchased by the ESOP are held in a suspense account within the trust. While ESOPs are prevalent in a broad range of industries, approximately 23.4%

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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Indeed, trust is not built on mitigating risks alone. million from the federal government.

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The Difference: Cash Basis Accounting vs. Accrual Accounting

xendoo

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

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Bitcoin Daily: China Construction Bank Grows Blockchain Platform; IRS Tax Forms Now Ask About Crypto

PYMNTS

China Construction Bank ’s vice president has revealed that the bank has added new abilities to its trade finance blockchain platform, including cross-chain and inter-bank transactions. In other news, the Marco Polo Network has announced that it has secured its first Russian-German import-export operations financing project.