This article discusses how the coronavirus pandemic has impacted the national economy, and in particular, family enterprises. However, being educated on emerging trends such as the rise of small cities, an increase in digitalization, and a slowdown in globalization can help your family business get back on the right track.
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Reynolds, Bone & Griesbeck PLC (RBG) is pleased to be named a 2020 Accounting Today’s Best Accounting Firms to Work For. 
Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. This survey and awards program is designed to identify, recognize, and honor the best employers in the accounting profession. This list is made up of 100 firms. 
“It is a great honor to be recognized as a best accounting firm to work for,” said Skeet Haag, CPA, managing partner of RBG. “We take pride in our team and the exceptional workplace we have built. We’re delighted to receive such a sought-after award.” 
Firms from across the United States entered the two-part survey process to determine Accounting Today’s Best Accounting Firms to Work for. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top firms and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data, and determined the final ranking.
Reynolds, Bone & Griesbeck PLC (RBG) is pleased to announce the addition of John “Ben” Dodd to its professional team. 
A recent graduate, Dodd joins the RBG Audit Department as an audit staff accountant. He brings with him one and a half years of part time experience as an intern-staff accountant for a Mississippi accounting firm. 
A graduate of Delta State University, Dodd earned a Bachelor of Business Administration in Accounting in 2019 and a Master of Professional Accountancy in 2020. He is currently in pursuit of his CPA designation. Raised in Sunflower, Mississippi, Dodd currently lives in Southaven, Mississippi. 
“It is a pleasure to welcome Ben to the RBG team,” said Skeet Haag, CPA, managing partner of RBG. “His eagerness and professionalism make him a fantastic fit for the firm. I look forward to watching his career develop with RBG.” 
This article discusses a rare opportunity that the Tax Cuts and Jobs Act have produced for investors in the United States. Long story short, this act is incentivizing investors to invest in distress communities in order to receive tax benefits in the hopes of “spur[ing] economic development and job creation” in those regions. Be sure to check out this article for more details surrounding the opportunity zones qualifications needed!
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Have you ever heard somebody talk about their “failure resume?” Doesn’t sound like a very appealing topic, right? Wrong. This person likely had a very healthy view of failure—they understood the key to turning failures into successes. 
When you fail, the worst way you can respond is by trying to forget about what happened. Instead, the best move is to put the failure to use by analyzing it and learning from it. 
Here are some tips for how you can turn your failures into success:
Learning from your failures is no easy task. Consistent results require consistent practice. Additionally, there are a few common mistakes that you should learn to guard against. Keep in mind that you should avoid:
On August 24, the Small Business Administration and Treasury made available a new set of guidance regarding Paycheck Protection Program (PPP) forgiveness issues. The new interim final rule covers two areas: owner-employee compensation and the eligibility of non-payroll costs. A recent article from the Journal of Accountancy offers a concise summation of the new regulations.
Owner-employee compensation – For the purposes of calculating loan forgiveness, C-corporation and S-corporation owners who hold less than a 5% stake qualify as exempt from the PPP rule regarding owner-employee compensation. This is because they are deemed to not have a meaningful ability to influence the allocation of PPP loan proceeds.
Eligibility of non-payroll costs – The new interim rule addresses situations where a business owner holds property in a separate entity and where a business owner holds property in the same entity as its business operations. The goal of the guidance is to establish equitable treatment for these situations.
To effect equitable treatment, mortgage interest payments to a related party are not eligible for forgiveness and mortgage interest or rents paid to a third party are eligible only to the extent of such portion that is attributable the space being occupied by the business. Further, eligible rent or lease payments to a related party are limited to the amount of mortgage interest owed on the property that is attributable the space being occupied by the business.
For further details, including a number of hypothetical scenarios illustrating various non-payroll cost situations, click here to read the article in full at the Journal of Accountancy.
Congratulations, you have earned your CPA certification! At this point you are well established as a professional in the accounting sphere. While earning one’s CPA license is a big deal, it is not necessarily the last certification that you should aim for. Beyond a CPA, there are many accounting credentials to consider pursuing to advance your career and develop your specialty. Some even require that you hold a CPA certification just to qualify to pursue the credential! 
Today we want to explore some of your options when it comes to advanced accounting certifications. But first, we want to take a moment to explain why pursuing these types of certifications is important. Earning advanced accounting certifications is helpful because they: 
Read on to learn about some of the many accounting credentials that you might consider in order to reap the benefits listed above.
 Enrolled Agent (EA)
Enrolled Agents represent taxpayers before the IRS. To earn this credential, you must pass a three-part, comprehensive test that covers both individual and business tax returns. Alternatively, you can earn the certification by being a former IRS employee. The EA credential is the highest one that the IRS awards. To maintain your EA, you are required to complete 72 hours of continuing education every three years. Click here to learn more.
 
Chartered Global Management Accountant (CGMA)
The CGMA credential was launched in 2012 as a partnership between the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). The AICPA describes it as “the premier management accounting credential—distinguishing accounting professionals who have advanced proficiency in finance, operations, strategy and management.” To become a CGMA you must complete the CGMA Finance Leadership Program, pass the CGMA Exam, and attain three years of relevant experience.  Click here to learn more about earning the CGMA.
 
Certified in Financial Forensics (CFF)
The CFF credential has been offered to members of the AICPA since 2018. It is a certification designed for accounting professionals who specialize in forensic accounting. To earn the designation, you must pass the CFF Exam, meet the minimum business experience and education requirements, and pay a credential fee. Recipients must regularly complete recertification to maintain their CFF. Click here to learn more.
Certified Value Analyst (CVA)
Awarded by the National Association of Certified Valuators and Analysts (NACVA), CVA is the most widely recognized business valuation credential. Those who earn the designation are skilled in aiding clients with many types of business moves, including selling or merging an entity, transitioning ownership to family members or other partners, expanding, and more. To earn the designation, you must pass an exam and meet an experience threshold. The credential requires payment of an annual fee and tri-annual recertification. Click here to learn more.
 
Master Analyst in Financial Forensics (MAFF)
According to NACVA, those who earn the MAFF designation develop “an understanding of the professional responsibilities and legal underpinnings necessary to providing credible financial forensics services along with an overview of the highest growth areas of financial forensic practice.” Requirements include meeting experience prerequisites, becoming a member of NACVA, attending a foundational workshop, and passing the MAFF exam. The credential requires payment of an annual fee and tri-annual recertification. Click here to learn more.
 
Accredited in Business Appraisal Review (ABAR)
The ABAR credential is offered by NACVA to candidates who desire to develop advanced competency in the review of business appraisal reports. Requirements include NACVA membership, a four-year college degree, a professional valuation designation, completion of the ABAR workshop, professional references, successful completion of the ABAR exam, and successful completion of one business appraisal review report. This program is currently being evaluated for redesign but may be available again in the future. Click here to learn more.
 
Certified Management Accountant (CMA)
CMAs are experts in strategic financial management and financial planning, performance, and analytics. To earn the certification, you must hold an active membership with the Institute of Management Accountants (IMA), have a bachelor’s degree or equivalent, have two years of work experience, and pass a two-part exam. To learn more, click here.
 
Certified Internal Auditor (CIA)
Issued by the Institute of Internal Auditors (IIA), the CIA credential is a professional certification for internal auditing around the globe. To earn the designation, you must pass an exam. IIA members receive a 20% discount on application and registration fees. Click here to learn more about the CIA designation.
 
Certified Information Systems Auditor (CISA)
The CISA designation is overseen and issued by ISACA (the Information Systems Audit and Control Association). It communicates a holder’s expertise in information systems process, governance and management of IT, information systems acquisition development and implementation, information systems operations and business resilience, and the protection of information assets. For certification, you must pass the CISA exam, have relevant fulltime work experience in the CISA practice areas, and pay an application processing fee. Click here to learn more about the CISA certification.
 
Certified Fraud Examiner (CFE)
 CFEs are knowledgeable in the four primary areas of fraud examination: financial transactions and fraud schemes, law, investigation, and fraud prevention and deterrence. To earn the designation, you must join the Association of Certified Fraud Examiners (ACFE) and the pass the CFE exam. Maintaining one’s CFE requires 20 hours of CPE each year and payment of annual membership dues. Click here to learn more.
 
Credit Business Associate (CBA)
Issued by the National Association of Credit Management (NCM), the CBA is for professionals who are well versed in basic financial accounting, financial statement analysis, and business credit principles. To qualify, candidates must submit an application, including a copy of their resume and their official college transcripts. Upon qualification, the candidate may sit for the CBA exam. NACM offers a discount on registration and application fees for members. Click here to learn more about the CBA credential.
This article discusses how the coronavirus pandemic is impacting a number of industries in multiple ways. Some of the trends include working from home, hiring based on technology skill set, and restaurants teaming up with delivery services permanently. No matter your industry, being aware of these trends and how they will impact businesses on a day-to-day basis will provide a competitive edge during this unstable time.
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This article discusses some accounting tips that your small business should consider following in order to become more efficient. There are many details business owners must consider, managing your accounting practices early on will allow you to focus on the work of growing your business. Whether it is as simple as separating your personal and business expenses or eventually making things automated, getting back to basics can go a long way to saving you time and money.
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In this time of uncertainty, knowing about and implementing some best practices within the industry can go along way in the health of your business. This article discusses four tips that you can take advantage of such as keeping your customers up-to-date, shifting to an online focus, and managing expenses.
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