Manufacturing

Spotlight on Fraud in the Manufacturing Industry

Amy Buben

The Association of Certified Fraud Examiners (ACFE) has published its 2016 Report to the Nations on Occupational Fraud and Abuse. The latest biennial study breaks down white collar crimes by industry, highlighting the common scams that manufacturers need to watch for and ways for them to minimize potential losses from fraud. How much doe... Learn More

Interim Accounting Services Add Value

Amy Buben

During the life cycle of a manufacturing company – as it changes and grows -- management may decide it is time to restructure and improve the accounting department, including reporting. The company may reach a stage where it becomes imperative to optimize existing software or even replace or expand leadership within the finance or accoun... Learn More

Attend the MMA’s 2017 Manufacturing Forum in April

Amy Buben

Members of Yeo & Yeo’s Manufacturing Services Group will attend the Michigan Manufacturers Association’s 2017 Manufacturing Forum on Tuesday, April 25, at the Suburban Collection Showplace in Novi. We welcome you to join us to gain new insights to grow your Michigan-based business. The Michigan Manufacturers Associati... Learn More

A Business Owner’s Key to Success: Focusing on the Big Picture

David W. Schaeffer

Why do so many businesses continuously struggle to make ends meet, while others appear to thrive year after year? Why do some business owners seem to have an unlimited amount of time to take family vacations and play active roles in their communities, while others work an excessive amount of hours and are seemingly chained to their business? On... Learn the Keys to Success

Understanding the Domestic Production Activities Deduction

Steven Treece

The domestic production activities deduction, also known as “DPAD” or “Section 199 deduction,” is meant to encourage domestic production. This potentially valuable tax break can be used by many types of businesses, from manufacturing to farming. Understanding the acronyms Before trying to calculate the DPAD, it helps to understa... Learn More

Security Awareness Training ― CyberSecurity for Your Manufacturing Organization

Jeff McCulloch

Take a moment and think about all of the security features that are used to keep your organization’s network safe. Passwords and firewalls help keep the bad guys away from your vital information. But all of these security measures don’t mean a thing if someone clicks on a malware link inside an email. As phishing attacks have grown, so ... Learn More

Get Ready for FASB’s New Lease Accounting Requirements

Jacob R. Sopczynski

Winter is coming, and so are changes to accounting standards. Changes in revenue recognition were introduced recently and now changes are coming for lease accounting. Although FASB’s Accounting Standards Update of Topic 842 isn’t effective for nonpublic entities until years beginning after December 15, 2019 (years beginning January, 1, ... Learn More

Accelerated Filing Deadline for 2016 Form W-2 and Form 1099

Yeo & Yeo CPAs & Business Consultants

Employers and small businesses will soon face a new filing deadline for Form W-2 reporting wages and Form 1099-MISC reporting non-employee compensation. This new deadline was enacted by the PATH Act of 2015 to help the IRS verify the legitimacy of tax refunds before issuing them. Beginning with the 2016 forms (those filed in 2017),... Learn More

Tax Implications of the New Revenue Recognition Standard

Amy Buben

Last year, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. The new standard, which takes effect in 2018 for privately held companies (2017 for public companies), creates a single, comprehensive revenue recognition model to replace today’s industry-specific ... Learn More