General Accounting

Categories

Michael Bromelkamp to Retire

Olsen Thielen Principal, Michael Bromelkamp, is in the process of transitioning from his many responsibilities at Olsen Thielen after 25 years with the Firm.
More Info »

Lisa Dunnigan Named Finalist for ORBIE Awards

Lisa Dunnigan, Olsen Thielen CIO and Principal was named a finalist for the Twin Cities CIO of the Year ORBIE Awards. The Twin Cities CIO of the Year ORBIE Awards honor chief information officers who have demonstrated excellence in technology leadership.
More Info »

Hiring Solvency Experts

Solvency is essential to staying in business and sometimes hiring solvency experts is needed to resolve creditor payment issues.
More Info »

Forensic Accounting Tools Used for Fighting Fraud

Uncovering fraud doesn’t always require in-depth data analysis or forensic accounting techniques. Qualified experts also find basic managerial accounting practices are handy tools when identifying potential fraud,
More Info »

Are You Haunted by a Ghost Employee?

A ghost employee is someone who appears on your payroll system, but who does not work for your company. The ghost employee can be a real person who is knowingly added to the payroll records, or a fictitious person invented by a dishonest employee.
More Info »

Tips for a Successful Audit

The end of the year is fast approaching and not only does that mean we are in the holiday season but, for many companies that means it’s time to start preparing for the annual audit. 
More Info »

Tools for Uncovering Financial Statement Fraud

Financial statement fraud is committed by intentionally misrepresenting an organization’s financial condition. A perpetrator might do this by omitting or misstating amounts or information to deceive auditors, shareholders and the public. However this fraud is committed, it tends to be one of the most costly schemes for the victimized companies.
More Info »

Thorough Due Diligence Can Protect Your Acquisition From Fraud

In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes.
More Info »

Why Limited Partnership Fraud is Easy – And How You Can Stop It

Sometimes it happens: General partners (GPs) of a limited partnership intentionally mismanage the business or commit fraud. If you’re a limited partner (LP) in such a partnership, it’s important that you recognize the signs that something’s amiss.
More Info »

“My Customer is Asking for a SOC Audit Report, Now What?”

We get this question frequently. Often the person who gets asked has little experience with SOC auditing and reporting and is concerned about responding appropriately. If your company is faced with this question, this article will help explain what you need to know.
More Info »

ESOPs Offer Businesses Tax and Other Benefits

With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement.
More Info »

Financial Statement Service Levels

Did you know that auditors don’t just audit financial statements? In fact, there are a variety of levels of financial statement services provided, including compilations, reviews, and of course, audits.
More Info »

Three Types of Information Your Nonprofit’s Board Needs

Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone message. Board members should, however, receive and understand information that will help them work together
More Info »

Consider Tax Consequences Before Making an Employee a Partner

Offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are some tax traps you should watch out for.
More Info »

Loans Between Your Business and Its Owners

It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions: Are they truly loans, or actually compensation, distributions or contributions to equity?
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.