Audits help identify inefficiencies, protect against fraud, and demonstrate credibility. Independent audits show donors and investors that your organization takes financial integrity seriously. You’ll need to verify the accuracy of your payroll records and employment tax filings as part of your audit prep. Verifying records also includes gathering and organizing proper documentation for all employees

Understanding the causes of duplicate payments is the first step toward implementing effective preventive measures. For instance, multiple AP clerks working on processing may duplicate a payment if there isn’t a clear process. If you must duplicate payments occur manually process, ensure that each invoice proceeds through a standard payment workflow (for instance, all invoices

Thus, companies often depreciable assets use depreciation—an accounting method that spreads these big-ticket expenses over time. Depreciation is the recovery of the cost of the property over a number of years. You deduct a part of the cost every year until you fully recover its cost. Useful Life Businesses can deduct depreciation costs in many

This growth rate is 100–200 basis points higher than both analyst consensus and our underlying market growth projections and this level of EBITA delivery is 100–200 basis points above current levels. Looking forward, our forecasting indicates that consumer goods growth will rebound to an inflation-adjusted 3–5 percent, which is half of what it was in