NPM Accounting & Advisory LLC

12/03/2024

Business owners, you need to know your numbers. Your business success is not just about being busy making money. If you can't keep what you make, if you can't measure and interpret the financial health of your business, how do you expect to maximize ROI, cash flow, and overall success?

This lady obviously has a winning product (like many of you do), but she missed a critical KPI in her pitch - her gross profit and gross margin. These tell a lot more to the investors about the product she's selling. Sales and net profit are important to know, but your gross margin is so critical for a number of reasons such as, operational efficiency, how much the product contributes to the rest of the business operating expenses. Also critical for financial analysis, forecasting, scalability, break-even analysis, and profit planning.

Know your numbers, always have a financial expert as the head of your financial department to whom your bookkeeper(s) report to continually.

11/22/2024

12/27/2023

Love it!

01/29/2023

Treasury, The IRS provides updated guidance on accounting methods for specified research or experimental expenditures

"WASHINGTON — The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2023-11PDF providing updated guidelines for accounting method changes for specified research or experimental expenditures.

The new guidance, posted today on IRS.gov, modifies and supersedes Revenue Procedure 2023-8PDF, issued earlier this month. Revenue Procedure 2023-11 is designed to encourage timely compliance with changes made by the Tax Cuts and Jobs Act, enacted in 2017."

https://www.irs.gov/newsroom/treasury-irs-provide-updated-guidance-on-accounting-methods-for-specified-research-or-experimental-expenditures

IR-2022-235, December 29, 2022 — The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2023-11 providing updated guidelines for accounting method changes for specified research or experimental expenditures.

01/23/2023

Why restaurant chains are investing in robots and what it means for workers

"Restaurant chains are experimenting with automation as the labor crunch pressures profits but robots and other labor-saving technology are still expensive, and it’s not clear how and when automation will pay off for restaurant operators. For now, major chains are still testing the technologies."

Restaurant chains experimented with automation this year as the labor crunch pressured their profits.

01/17/2023

12 New Year's Resolutions Every Homeowner Should Make

"The start of a new year is a good time to establish different goals. And one of yours may be to keep your home in great shape. To that end, here are some homeowner resolutions to put on your list for 2023."

Your home is probably your greatest asset and investment. Pledge to take good care of it in the new year.