Zinner & Co. Blog and Newsroom
Part 1 of a 5 Part Series
Do you ever wonder what challenges Board members are facing and how they are dealing with those challenges? Zinner and Co. plays a key role in helping organizations and their management team to overcome a wide range of obstacles. Our unique position of working with multiple entities allows us to take our experience and apply it to you and your organization.
For many companies, keeping close tabs on revenue, expenses, and profit is the number one priority. However, companies that carry inventory may not realize its direct effect on profitability. This effect is known as shrinkage. Shrinkage is the excess amount of inventory (in accounting records) that no longer exists in the actual inventory. In other words, it is a loss of inventory. There are several causes of shrinkage, such as:
By Carl Blankschaen, CPA
Audit and Assurance Senior
If you are one of the countless professionals serving a non-profit institution, you have no doubt heard the buzz surrounding financial reporting and how all non-profit organizations will now have to make an adjustment in the way in which they report.
The Financial Accounting Standards Board (FASB) recently issued their exposure draft on Presentation of Financial Statements for Not-for-Profit Entities. This exposure draft will make drastic changes to the financial statements of all Non-Profit organizations, and will consequently require changes in the recording of accounting information throughout the year in order to prepare the financial statements at the end of the year. What does all this industry talk mean for your non-profit?