General Accounting

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Financial Danger Signs for Nonprofits

Many not-for-profits are just starting to emerge from one of the most challenging environments in recent memory due to the COVID-19 pandemic. Even if your organization is in good shape, don’t get too comfortable.
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Olsen Thielen Celebrates 100 Years

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains.  commitment to their clients and their community. 
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Financial Statement Footnotes Provide Valuable Information for Nonprofits

Financial statement footnotes provide donors, governmental supporters, and other stakeholders with critical information about your not-for-profit. It’s important to work with your CPA to make sure your footnotes are accurate and thorough.
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Why the Segmented Income Statement is a Powerful Management Tool

A companywide income statement may be sufficient for lenders or other outsiders to evaluate your company’s financial performance. But from management’s perspective, a “segmented” income statement can provide valuable insight into key performance drivers and possible improvement strategies.
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Reporting a Disaster’s Effects on Your Financial Statements

The COVID-19 pandemic has provided many lessons for business owners. One is how to report the impact of a disaster on a company’s financial statements.
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What if Your Customer Files Bankruptcy?

VIDEO: It’s something every business owner hates to hear - your customer filed for bankruptcy. In this video, we’re going to provide information about the bankruptcy process to help you with your recovery efforts.
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Nonprofits–What to do When the Audit Ends

Financial audits conducted by outside experts are among the most effective tools for revealing risks in not-for-profits. They help assure donors and other stakeholders about your stability — so long as you respond to the results appropriately.
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Benefits of a Fractional CFO

VIDEO: As your company grows, the need for greater experience and more sophistication in accounting and finance will also grow. If your company is facing the question of whether or not to hire a full-time CFO, you might want to consider a fractional CFO instead. In this video,
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Scenario Planning

VIDEO: What if your organization was already prepared to respond to the challenges brought about by COVID-19? Scenario planning is a savvy management tool that helps organizations deal with the uncertain world in which we live.
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All About Equity Crowdfunding

VIDEO: Crowdfunding has become a relatively new way for businesses to raise capital. In this short video, you'll learn how businesses are leveraging equity crowdfunding to raise capital from both accredited and non-accredited investors.
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Contingency Planning for Business Owners

VIDEO: All businesses face a variety of risks, which is why it's important to have contingency plans in place to deal with unexpected events. In this video, you will learn 5 important steps to contingency planning for your business.
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New Principals Elected

We are pleased to announce Matthew J. Klein and Nathaniel L. Nelson have been elected Principals of the firm, effective September 1, 2019. With their election, Olsen Thielen now has 21 Principals and over 86 staff.
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LLC vs S-Corp: What’s the Difference?

VIDEO: If you're starting or have already started your own business, you've probably heard about the advantages of incorporation. You'll learn the differences between an LLC and S-Corp, and how both can be used together. We'll also cover the benefits and tax implications of each.
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Leasing or Buying Equipment

Have you ever wondered if leasing or buying equipment would be more tax efficient for your business? Recent changes to federal tax law and accounting rules could affect whether you make the decision to lease or buy equipment or other fixed assets.
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Hennen Appointed Board Chair

Olsen Thielen is proud to announce Adam Hennen has been appointed Board Chair for the White Bear Area Chamber of Commerce.
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