Author: Dawn Wagenaar

Young woman being interviewed for an accounting position.

Public Accounting Jobs vs. Corporate: Pros and Cons

When obtaining your accounting degree or other related finance degree, you have options. One of those options is to work for a public accounting firm. You may also explore accounting careers within a business setting. As you consider your options for internships and accounting jobs, you should think about the best training opportunities that will

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Is Public Accounting a Good Career Move?

When thinking of a career transition, many people think that they must stay within the same industry. Not true. Whether you are a teacher, a healthcare administrator or a bookkeeper for a small business, you may have many transferable skills for a public accounting career. Accounting firms are also looking for more nonaccounting majors to

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Best KPIs to Select for Not-for-Profits

Measuring the success of your not-for-profit organization through key performance indicators (KPIs) can be confusing and time-consuming, especially when there are hundreds of metrics to choose from. It is important to choose meaningful KPIs that reflect your mission, growth goals and stakeholder expectations. In addition, you will need to establish a baseline metric for each

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Giving to the Future: Not-for-Profit Leadership Qualities

The nonprofit sector now employs nearly 10 million people and accounts for over 7 percent of U.S. national income, according to a recent article in the Society for Nonprofit Organizations magazine, Nonprofit World. In the last decade, leaders have shifted to a more entrepreneurial mindset through marketing, revenue diversification, collaborative partnerships and improved technology. This

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Accounting Career Advancement

Professional service firms are often different in their approach to promotions. This is certainly true in accounting career advancement. Most, but not all, CPA firms offer internships, and they will hire from the intern pool. However, some firms start with a pool of first-year staff who must complete training and performance requirements before they advance

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More Solutions for Affordable Housing Financing

With national housing at a crisis level, underproducing millions of units annually, public and private partnerships are getting more creative about how to solve this puzzle across the country. Traditional sources of government funding are limited, traditional lending is expensive and institutional investors are pulling back from housing investment. Now, developers and new funders are

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Accounting colleagues sitting around a table having a discussion

Culture of Learning: Preparing for a Board Presentation

Among the top concerns of nonprofit boards is how to maintain resiliency through economic pressures. As an auditor, accounting or tax professional preparing a presentation for a nonprofit board, it is important to discuss financial narratives through the wider lens of resiliency. If the nonprofit is part of a highly regulated industry, this is another

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Accounting for Forgivable Loans and Other Revenue

With the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, 501(c)3 non-profit organizations and 501(c)19 veterans’ organizations with 500 or fewer employees (or that meet SBA size industry standards) were able to apply for emergency relief. Part of that relief came in the form of potentially forgivable loans through the U.S. Small

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Say Yes to Remote Audits, No to Remote Auditors

Written by Crisanto Francisco. Previously published in Accounting Today The accounting industry is offering evidence and opinions on why remote audits are here to stay. As an audit partner in California, I have seen first-hand that securely transferred documents can allow audit teams to successfully perform audits remotely. Videoconferencing technology can also handle remote audit

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Apartment building

Surplus Cash Calculation and Distribution

Written by Joe Li. Previously published in Multi-Housing News Surplus cash calculation and distribution is one of the most interesting parts of the financial statements of affordable housing entities. It determines the amount of residual cash available to make fees, distributions, ground leasing and deferred loan payments. Surplus cash distribution and the calculation itself are

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IRS Balance Due Notice Update

Attention California Storm Victims If you received an IRS CP14 notice in the mail, please disregard any information pertaining to balances due within 21 days. Tax payments are not due until October 16 for qualifying California storm victims per the federal and states disaster relief provisions. The IRS acknowledges the error and sent this follow-up

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Ethics for Public Accounting Jobs: Protect Your Reputation

Public accountants play a crucial role in maintaining the integrity and trustworthiness of their clients’ financial reporting. However, they often face ethical dilemmas when confronted with conflicting interests or client requests that could compromise their professional integrity. Here are some ethical areas to bear in mind for your accounting career and why they are important

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professional people communicating

Nonprofit Financial Management – Essential Stakeholder Communication

  Nonprofits have multiple stakeholders with varying needs and preferences for communication. Board members need consistent communication to focus on strategy and fiscal stewardship. Donors or members want updates on programming and activities, getting a sense that their investment in the organization is worthwhile. In some cases, there are also public and government stakeholders that

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Homeless person sleeping under bridge

Help the Homeless with Your Accounting Career

  When considering all the career options out there, accounting jobs can sometimes seem like they are all about managing money or helping the wealthy get wealthier. However, accounting is also about maintaining healthy balance sheets to support jobs as well as sustain funding for society’s most challenging social issues. In addition, proper accounting and

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Silhouette of recruitment candidate in the spotlight with other candidates looking on.

Hiring? You may be eligible for a valuable tax credit, the WOTC

As an Equal Opportunity Employer, you may find that your generosity has its rewards. Both taxable and certain tax-exempt employers in the U.S. and certain territories can now take advantage of a new credit. If you need to hire, be aware of a valuable tax credit for employers hiring individuals from one or more targeted

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Low angle of affordable housing units

Long-Term Strategies for Affordable Housing

Developers are seeking new financing methods to rehab and build affordable housing across the U.S. Combinations of public and private financing include traditional federal and state programs paired with venture capital, REITs and also private corporations that want to support and preserve affordable workforce housing in their markets. Affordable housing is comparably recession resistant. This

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Power switch

These 4 Technology Trends are Shaping Future Accounting Jobs

The accounting industry is experiencing advancements in digital automation and AI tools. These technologies are applied to increase efficiency, support proactive advisory guidance and improve data security. As you explore your career in accounting or the next stage of your accounting management opportunities, these technologies are already redefining and adapting job descriptions. The future for

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Runners at starting line

After the Audit: How to Assess Improvements

You may have had a “good” audit, but there is always room for improvement. Use what you’ve learned to your advantage by making improvements in your processes and controls throughout the year. When in doubt, ask your audit team! 1. Don’t wait Don’t wait until your next audit for audit planning. Reach out to your

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Homes in rainstorm

IRS Updates Tax Relief Again for California Storm Victims

On February 24, 2023, the Internal Revenue Service announced that disaster areas in California (and parts of Alabama and Georgia) now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments.  Previously, the deadline had been postponed to May 15 for these areas. Please see our February

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Couple looking at laptop computer

Beware the five-year rule for Roth IRA withdrawals

To withdraw money from your IRA tax-free, there are a few rules taxpayers must follow, including the widely misunderstood “five-year rule.” This article explains the ins and outs of this rule. 3 types of withdrawals To understand the five-year rule, you first need to understand the three types of funds that may be withdrawn from

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Serious businessman sitting with laptop

Why You Should Get a Nonprofit Loan Right Now

There are many ways that not-for-profit organizations can finance their mission. Some of the following vehicles are very common: SBA loans and grants Nonprofit loan funds and grants Community development financing Bank or credit union loans and lines of credit Donor development and crowdfunding Donations and grants are the first line of defense in an

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Mental Health Check-In: Are You Okay?

It’s easy to get bogged down in your work and get stuck in a routine that does not include self-care and wellness. You may find yourself thinking about work when you’re not at work, leading to stress, bad eating habits or insomnia. External life pressures add to the mental burden. Can I afford the car

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Update to IRS Tax Relief for California Storm Victims

The Internal Revenue Service issued another announcement that updates and expands the relief period for California storm victims to file their tax returns and to make tax payments. Please see our previous article for more information! View Article The relief period now applies to filing deadlines and tax payments that fall on or after December

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Home by the ocean

What a difference six months can make

Did you know that you could help your family save money on their federal estate tax bill by asking your executor to choose an alternative valuation date? An alternate valuation date can reduce estate tax liability If you have money invested in the stock market, you’re well aware of potential volatility. Needless to say, this

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Person cleaning a mirror

5 Email Don’ts When Submitting Your Resume

You know it’s important to make a good impression through your resume and in the interview process, right? But did you know that you must also impress employers throughout your email correspondence? To develop your career, you need to master the art of correspondence. Here are email tips about professional etiquette and 5 things you

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Affordable housing unit

Deal Funding: Deferred Developer Fee Is Only One Solution

Congress’ recent spending package offers an increased $4.5 billion to HUD for fiscal year 2023, including a “Yes in My Backyard” (YIMBY) grant program and increased funding for several existing programs. This news may or may not ease concerns among developers about significant project cost increases and funding gaps. A recent article in Affordable Housing

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