Importance of Leadership With over thirty years of experience in management and leadership, I have learned that there are at least three keys to effective leadership. To be successful, you must be committed to all three. It is the responsibility of the executive leader to ensure that all three elements are solid. The three keys…
Healthcare is a Significant Portion of the US Economy Leadership excellence is more important now than at any point in time for the healthcare industry. Healthcare is an enormous portion of the economy of the United States. Based on a recent HealthLeaders article (Commins, 2018), healthcare represents 18% of the US economy. Further, the Centers…
I rarely get asked what makes an effective leader. By contrast, I often get asked what makes a great leader. Everything we read talks about being great. One of the best lessons I learned early in my career is that in many cases being effective leader is far more important than being great. The problem…
The new disclosure requirements set by ASU 2016-14 require not-for-profits to do extra work in preparing their financial statements. These disclosures provide the benefit of providing a more transparent perspective of how an organization’s financial picture really looks. ASU 2016-14 requires the following changes to financial statement presentation and disclosures: Net assets are no…
A new accounting standards update (ASU) requires all entities that produce financial statements to make a few changes to their classification and disclosures of restricted cash. These changes have multiple effects on not-for-profits and affordable housing properties, including HUD projects.
Many times, entrepreneurs get so wrapped up in the day-to-day operation of their business they forget to take a step back and protect what they have built. Here are 5 things you can do to protect your growing business. Financial Planning – Sound financial planning has many aspects. It ranges from having a trusted…
On June 11, 2019, the U.S. Department of Treasury and the Internal Revenue Service issued final regulations that limit the amount of charitable deductions available to taxpayers who claim credits on their state income tax returns. Popular Indiana credits include the college credit in which individuals may claim a credit up to 50% of the…
Donovan Named One of 15 Partners We are excited to announce a new partnership with the Old National Bank Center for Closely Held Business within Butler University’s Andre B. Lacy School of Business. Donovan CPAs was announced as one of its accredited partners to help companies working with the Center to achieve their goals. The…
Though interns in a CPA firm may seem like grunt workers, tackling all the menial tasks the staff accountants and managers don’t want to do, they play a vital role in our firm. Hear from a few of our former interns in what they would recommend for someone tackling an audit internship.
Not-for-profit organizations are mission-focused and often employ scrappy teams who work in multiple roles with the passion of the cause. However, if your organization grows, it may be worth more to your team to focus on your strength zones and not on keeping your own accounting records.