The Compliance Supplement Addendum was finally released at the end of December 2020. With the addendum, there was a total of five new Catalog of Federal Domestic Assistance (CFDA) numbers issued as they relate to COVID-19 funding. These cross over Department of Agriculture, Department of Education, Treasury, Federal Communications Commission (FCC) and Department of Health …
Stress, an inevitable part of life which is usually characterized as an unwelcome/unpleasant feeling, experienced both physically and mentally. Because of this you spend so much time trying to avoid stress altogether. But what if instead of trying to avoid it completely, you focused on using the following strategies to mitigate your stressful situations and …
Compensated absence is as the name implies, the employer’s offering of time off with pay to employees. As the employee prepares for how they will use their time off an employer must also account for it properly regardless how the employee uses that time. As stated from GASB Statements 16 and 34, governments must account …
Let’s be honest, accounting can sometimes be a challenge. But what makes it difficult? Not understanding the fundamentals of how accounts work, without understanding the relationships and purpose of each account, nothing will make sense! So, today, Henry+Horne is here to help you understand the difference between prepaids and accounts payable. First, let’s make it …
Year-end comes every twelve months whether we are ready or not. The year-end process can be a lot to remember when it comes to accruals and the “once a year” transactions that need to be done. Commonly missed year-end entries are reclass entries needed between assets and liabilities. They are commonly missed due to the …
When it comes to accounting, people often believe it to be very rigid and structured. But as we all know, “it depends” is a very common answer when it comes to the treatment of various accounting issues. At what point does something become an ethical issue? Well…it depends. It’s also not as clear as some …
Navigating Arizona’s court financial system can be confusing, even more so with a recent switch between AZTEC and AJACS systems. The state completed the transition by June 30, 2020 and now everyone can begin learning the user-friendly system! Don’t miss: Culture of busy-ness Each court is required to complete the following, to adhere to compliance …
We are always busy, right? We don’t have time for another meeting. Your boss gave you another report deadline, your kid has soccer practice, and you haven’t had a haircut in four months. But yet, we just spent the last 45 minutes catching up with a fellow colleague about the weekend concert. How can we …
The general ledger contains a record of your company’s cash transactions while the bank statement records all money moving in and out of an account. Theoretically these should result in the same cash balance, however, that is rarely the case. To ensure that these two items balance it is important to perform regular reviews called …
We know the fraud triangle is made up of opportunity, pressure and rationalization. For many businesses, all three can occur. Dishonest employees learn the ins and outs of your organization and find ways to commit fraud without raising suspicion. Discussed below are the three biggest areas employee fraud can occur within your organization. Don’t miss: …