Matt Gardiner, CPA, CFE, Partner Every business faces financial risks from both internal and external sources. Internally, weak segregation of duties, unchecked authority, and an over-reliance on trust can create opportunities for misconduct. Externally, vendor fraud, cyberattacks, and third-party schemes often exploit oversight gaps. Addressing these risks requires a proactive, multi-layered approach. Internal Fraud: Preventing...
keep readingBlake Miller, CPA, CFE, Partner The new accounting standard for joint ventures introduces significant changes aimed at reducing diversity in practice and providing better information for decision-makers. Previously, joint ventures faced inconsistent guidance on how to measure and recognize net assets contributed upon formation. Some opted to measure at carrying value, while others used fair...
keep readingBy Mark A. Rodruck, CPA, Partner As we wrap up a successful but challenging 2024 and look ahead to 2025, it’s clear that the agriculture industry, like many others, will face a number of challenges and opportunities. Key factors such as staffing concerns, rising fixed expenses, shifts in the political landscape, and the potential sunset...
keep readingJim English, CPA, Partner WHAT GOES UP MUST COME DOWN! After two years of record or near-record sales, the age-old adage “what goes up must come down” has proven true. Commodity prices, which surged in recent years, took a sharp downturn, leading to a noticeable drop in overall sales revenue. Fortunately, earnings didn’t follow the...
keep readingby Dennis Gardiner, CPA, Managing Partner As we reflect on the past year and look toward the future, we are proud to celebrate significant milestones and exciting changes within our firm. 2024 marked the 60th anniversary of our firm’s founding by Dan Gardiner. It has been a remarkable journey, and we are honored to continue...
keep readingDennis Gardiner, CPA, Managing Partner The 2017 Tax Cuts Jobs Act (TCJA) is due to sun set on December 31, 2025 (with the 2025 tax year). The 21% corporate tax rate was permanently changed with TCJA, so it will not expire. As you are likely aware of, the Section 199A(g) deduction will expire. This deduction...
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