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Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

Nonprofit Alert: 2022 Single Audit Filings & New Data Collection Form

For nonprofits subject to a Single Audit, there’s a delay in the new requirement to use SAM.gov to submit Single Audit filings.
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Ease Supply Chain Distribution Woes With EDI

In any economy, there are only two ways to increase the bottom line: increase revenue and/or decrease costs. Electronic Data Interchange (EDI) is a tool that can help with both. By eliminating operational bottlenecks, EDI helps lower costs while allowing...
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Inflation Reduction Act of 2022: Key Highlights

The Inflation Reduction Act of 2022 intends to curb inflation by decreasing the amount of money the government spends, imposing new streams of revenue and lowering both healthcare and energy bills for Americans.
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Journal Entries to Account for Operating Leases Under the New Lease Standard

The new lease accounting standard is effective for private companies and nonprofits for fiscal years beginning after December 15, 2021. This new accounting rule requires organizations to report their operating leases on the balance sheet. This will...
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Accounting for Common Area Maintenance Expenses

Common area maintenance (CAM) costs are expenses incurred by a landlord to maintain or manage common areas in places like shopping centers or office buildings. For example, a parking lot in a shopping center or the lobby in an office building requires...
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Understanding the Company-Specific Risk Premium: A Guide for Attorneys

Whether it’s part of a contentious divorce hearing or to assist a client in selling their business, a valuation is extremely important in determining the value of a business. Understanding risk factors is essential in determining how a business will be...
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