Let’s uncover the intricacies of foreign currency transactions, exploring how companies record them in their books and the nuanced differences in tax treatment for realized and unrealized gains or losses. What Is a Foreign Currency Transaction? It is when a Company enters into a transaction that is denominated in a currency other than the Company’s…
Download a PDF of this case study. Executive Summary Withum’s Cyber and Information Security Services Team delivered a fully integrated IT infrastructure that adheres to international data privacy laws and regulations for a U.S.-based wholesale flower grower and distributor. Through various IT assessments, walkthroughs and virtual CISO roles, Withum delivered the business with comprehensive IT…
Trustees and plan administrators of large, employee benefit plans, including single and multiemployer plans, bear a great responsibility in their role as fiduciaries. While seemingly only names in unfamiliar notices to participants, plan governance decisions impact lives both now and in years and decades in the future. Those charged with governance of employee benefit plans…
As the pandemic moves into a new phase and businesses and offices are starting to resume normal operations, it may be time to revisit Internal Revenue Code (the Code) Section 139, an underutilized and often overlooked Code Section. It is an opportunity for businesses to reimburse individuals for prior and ongoing “Qualified Disaster Relief Payments”…
With the creation of Withum’s Women in Financial Services group, our goal is to strengthen and support women in the financial services space through developing new relationships, creating opportunities and strengthening the network and community of female executives. Included in this initiative is spotlighting our women clients, friends and founders on their experiences and successes….
Download a PDF of this case study. Executive Summary Withum’s OASyS Team delivered a real-time, rolling, zero-based budget and forecasting model for a growing venture capital firm to enable reporting of key metrics to the management company. Using a diagnostic discovery method, Withum’s Financial Planning and Analysis Consulting professionals created a customized 13-week rolling and…
Share Withum is proud to announce that Crain’s New York named three team members to their 2021 Notable Women in Accounting and Consulting list. Samantha Greenbaum, Karen Kowgios and Sareena Sawhney were honored by the publication along with 64 other honorees in the industry. Samantha Greenbaum, CPA, MAcc, is the Team Leader of Withum’s FemTech…
Cyberattacks – Not If But When Hackers never sleep and your security can’t either. While some were home baking, reading, playing games and working on their passions, others were building hack tools and infiltrating large companies’ supply chains. Hackers are always looking for a new way in. They consistently work on finding exploits and Zero-Day…
Share Based on incident response experience, insider threats and associated impacts are among the worst. Cybercriminals embrace technology, innovate, recruit, and outsource to help orchestrate crimes that may not always be financially motivated. “Two things about the NSA stunned me right off the bat: how technologically sophisticated it was compared with the CIA, and how…
For many decision makers, the financial data needed to make decisions is often presented in a format that does not readily help them interpret what it says or help make those decisions that they are tasked with. According to several studies, 65% of people are visual learners, so providing visual illustrations of data can help…