Share What is hardware and software testing? In simple words, testing is finding out whether the expected functionalities/requirements are working the way they are supposed to and to make sure it is defects free. It’s a process of identifying errors or missing requirements, thus improving the quality of our deliverables. In computer hardware and software…
Share XBRL (“eXtensibile Business Reporting Language”) and Financial Reporting Taxonomy have been under significant evolution for several years to match policy with the accounting discipline’s data-centric practices. XBRL is the digital business reporting language in which reporting elements are “barcoded” to ease data flow and tracking. XBRL’s intent is to increase comparability for audit, tax,…
Share This quarterly newsletter will encompass timely insights relevant to your dealership. In this edition, we dive into dealers really knowing what they are selling, cybersecurity insurance – the missing puzzle piece, LIBOR changing over to SOFR and as well as an introduction to our Partner, Mike Mulhearn. For questions or additional insight, contact Withum’s…
Technology spending is estimated to reach $3.9T in IT in 2021. With that much investment into tech, it makes sense to have clear and measurable markers for calculating ROI. Here are our top 8 tips to consider when setting a technology spending budget. 1. Establish a realistic technology spending budget: with minimum and maximum thresholds…
Share President Biden recently unveiled his $2.3 trillion infrastructure proposal as part of the American Jobs Plan (Plan). The Plan involves infrastructure and other investments over an 8-year period as it seizes the “moment to reimagine and rebuild a new economy.” The stated goals of the Plan are to create millions of jobs, to rebuild…
Share The employee retention credit (ERC) is turning into the gift that keeps on giving. It was enacted on March 27, 2020 as part of the CARES Act, and then was expanded greatly on December 27, 2020 by the Consolidated Appropriations Act, 2021, which among other things eliminated the ban on the ERC if a…
Originally Posted on May 28, 2014 Strong internal controls are an important component in helping retail store businesses reduce possible fraud usually caused by employee theft and customer shoplifting. Smaller businesses are especially susceptible to have higher shrinkage than larger companies. Shrinkage cannot be totally eliminated, but can be substantially reduced by implementing the following:…
Share On March 30, 2021, just one day before the expiration of the Paycheck Protection Program (“PPP”), President Biden signed the Paycheck Protection Program Extension Act, H.R. 1799, which extends the period businesses have to apply for a PPP loan until May 31, 2021. The SBA will have until June 30, 2021 to process applications…
Share Yesterday, on March 29, the Department of Labor issued a statement on its intent to rescind the implementation of the Form T-1. In the meantime, with initial Form T-1 reports due to be filed by September 28, 2021, the Office of Labor-Management Standards “will not seek to enforce the filing of a Form T-1…
Consumer Products Sell Side Quality of Earnings – Online Retailer/ Wholesaler The Client Wholesale distributor and direct to consumer online retailer of home goods with $32m in annual revenues valued at $85m. The Client’s Need The Company’s founder decided to seek equity investors for a capital infusion to recapitalize and fund the future growth of…