by MCCITStaff | Dec 31, 2024 | Business Planning
Owners’ equity is the difference between the assets and liabilities reported on your company’s balance sheet. It’s generally composed of two pieces: capital contributions and retained earnings. The former represents the amounts owners have paid into the business and...
by MCCITStaff | Dec 26, 2024 | News
Required BOI reporting under the CTA is back in effect; for companies originally required to report information by January 1, 2025, the new filing deadline is January 13, 2025. Specifically, the FinCEN alert said that, because the Department of Treasury...
by MCCITStaff | Dec 19, 2024 | News
by MCCITStaff | Dec 19, 2024 | Nonprofit
You’ve probably collaborated with other nonprofits that share your space — maybe on a special event or fundraising campaign. Some organizations go further with formal strategic partnerships that involve sharing staff, facilities and budgets. In other cases, two...
by MCCITStaff | Dec 17, 2024 | Accounting
A chart of accounts is the foundation of accurate financial reporting, so it needs to be set up correctly. A disorganized chart or one that lumps transactions into broad, undefined “buckets” of data can make it difficult for management to evaluate financial...
