Archives: Insights
May 13, 2024
Article
Harnessing Data for Business Success: How Data Warehousing and Power BI Drive Growth
This article explores how integrating a robust data warehouse with Microsoft’s Power BI can streamline your data analysis, enhance business intelligence, and drive strategic decisions that lead to sustained business growth. Join us as we delve into the mechanics of data warehousing, the benefits of Power BI, and how their combined effort can revolutionize your approach to data management.
May 10, 2024
Article
Become a Profitable Powerhouse: Financial Strategies for Manufacturing
In manufacturing, navigating financial complexities to support profitability and growth can be challenging. But with the right strategies, you can enhance your bottom line and set your business up for long-term success. Here's how:
May 8, 2024
Article
How AI Can Transform Operations in Not-for-Profit Organizations
Efficiency and efficacy are necessities for survival and growth in not-for-profit organizations. As technology advances, artificial intelligence (AI) emerges as a powerful ally in enhancing these aspects. Not-for-profits, often strapped for resources, stand to gain significantly from integrating AI into their workflows.
Apr 29, 2024
Article
Navigating IRS 1099 TIN Mismatch Letters: What You Need to Know
The IRS has recently issued a series of 1099 TIN mismatch letters, also known as CP2100 and CP2100A notices for 2022 and 2023, indicating a ramp-up in enforcement and penalties related to 1099 filings. These notices can lead to significant compliance obligations, so understanding what they mean and how to respond is crucial for maintaining compliance and avoiding penalties.
Apr 29, 2024
Article
The GASB Approves Statement No. 103 on the Financial Reporting Model
In its April 2024 meeting, the Governmental Accounting Standards Board (GASB) approved the issuance of Statement No. 103 regarding changes to the financial reporting model. The new standard will revise and build upon the requirements in GASB Statement No. 34. The full standard will ultimately be published on the GASB’s website. Key changes in the … Continued
Apr 17, 2024
Article
Understanding Net Asset Classifications: A Key to Financial Clarity
Not-for-profits play a vital role in addressing community needs, relying primarily on donor generosity. Effective financial management hinges on accurately tracking asset restrictions, which are critical for decision-making. This article outlines net asset classifications, highlights best practices for their management, identifies common challenges, and suggests resources for future guidance.
May 24, 2024
Events
Legacy in Progress: The Essential Guide to Exit Planning (Wooster)
Are you a business owner looking to secure the future of your company? Don’t miss out on this invaluable opportunity to gain insights into the intricate world of exit planning. At this event hosted by Rea & Associates, you’ll hear from industry specialists who will guide you through the exit planning process, covering crucial aspects … Continued
May 3, 2024
Events
Mastering Ohio Medicaid School Program: Insights and Strategies for School District Professionals
Are you a treasurer or special education professional looking to further your understanding of compliance with the Ohio Medicaid School Program (MSP)? Look no further! Rea & Associates invites you to a comprehensive event tailored just for you.
May 9, 2024
Newsletter
Benefit Insights | Spring 2024
These provisions allow an employer to withhold deferrals from the employee's pay without the employee making an election. By utilizing automatic enrollment, an employer can boost participation while simultaneously simplifying the enrollment process.
May 23, 2024
PR
Rea & Associates’ Becca Johns Inducted into the Association for Accounting Marketing Hall of Fame
Rea & Associates, Inc., a leading CPA and consulting firm, is proud to announce that Becca Johns, Director of Practice Growth, has been inducted into the Association for Accounting Marketing (AAM) Hall of Fame. This prestigious honor, the highest in accounting marketing and growth, was presented to Becca during AAM's Annual Summit.