Category: Business Best Practices

Are expense reports worth auditing

Many payables functions spend considerable time verifying that all expenditures are documented with receipts. Is this a productive use of the payables function’s time?  Major firms answer no. These companies have switched to company-provided credit cards and random expense reporting auditing. The threat of a random audit will achieve the honesty factor that firms are… Read more »

Should CPA’s work more remotely?

Jennifer Wilson of Convergence Coaching recently published an article in the Journal of Accountancy advocating that auditors should do more work remotely. Her key points were: We have the technology. Its more time and cost efficient. Some client’s audit locations are less than ideal. Firms (CPA) can gain staffing flexibility. Many of your clients will… Read more »



Newly “in transition” folks often seem to think that networking is something they need to do until they find a new corporate role.  In my world as partner in B2B CFO®, I view networking as a way to stay connected with the marketplace, potential customers and people who are integral to my success. Certainly networking… Read more »

The IRS to hire private collection agencies

Collection agencies

From 2006 through 2009, the IRS contracted with a number of private debt collection companies with very limited success.  In fact the IRS argued that it could be more efficient handling the work internally. In the recently passed Federal Highway Funding bill, Congress has restarted the use of private debt collection companies.  The private firms… Read more »

The IRS releases the mileage reimbursement rates for 2016

Mileage reimbursement rates

Just released from the IRS the 2016 mileage reimbursement rates, the optional standard mileage reimbursement will be $0.54 per mile in 2016, down from $0.575 per mile in 2015. Medical and moving reimbursement rates dropped by four cents in 2016 to $0.19 per mile.  Rates applicable for rendering gratuitous services to a charitable organization will… Read more »