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Recently Published
30 Second Ideas
- Taxpayers Beware: IRS Impostor Faxes
- You’ve Got Two More Days to File Your Tax Return
- 2012 Standard Mileage Rates
Accounting Updates
- New Consolidation Standards — Who Put the VIE in Related-Party Lease Arrangements?
- Proposed Changes to Revenue Recognition Standards — Only One Proud Standard Rather than Dozens
- Proposed Changes to Lease Accounting Standards — The Classic Cookie-Cutter Standard Is Likely to Be Retired
Alerts
- Defined Value Clause Win for Taxpayer — Wandry v. Commissioner
- Optimize iCOLI Policies to Benefit Your Company
- Beware: New Form 8938 - Statement of Foreign Financial Assets
Articles
- Middle-Market Manufacturing M&A Quarterly Review — Manufacturing-Sector Update, May 2012
- Middle-Market Manufacturing M&A Quarterly Review — Multiples, May 2012
- Industry Snapshot: Metal Fabrication
Business Surveys
- Survey of Chicago Area Business Leaders, September 2009
- Survey of Advisors to Family-Owned Businesses
- Survey of Chicago Area Business Leaders, February 2009
Construction Edge
- Managing Indirect Costs Calls for a Keen Eye ... and a Plan
- An Escalation Clause Can Help Curtail Materials Cost Woes
- Four Ways Dishonest Employees Can Steal Your Money
Healthcare Edge
- Specialty Snapshot: Medical and Diagnostic Laboratories
- Cash Balance Plans For Professional Practices
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
Insurance Edge
- Preparing Your P & C Insurance Company for an IRS Audit Before It Comes
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
- Optimize iCOLI Policies to Benefit Your Company
Legal Talent
- Varying Rates for Contract Attorneys: Caveat Emptor!
- Top 10 Reasons to Hire Temporary Help in a Down Economy
- Five Organizational Tips for Staffing a Document Review Project
Manufacturing Edge
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
- A Year-End Planning Checklist for Every Manufacturing Company and Distributor
- Goodwill Impairment Testing — Simplification May Be Possible
Market Update
- Middle-Market Manufacturing M&A Quarterly Review — Manufacturing-Sector Update, May 2012
- Middle-Market Manufacturing M&A Quarterly Review — Multiples, May 2012
- Industry Snapshot: Metal Fabrication
Not-for-Profit Edge
- Benefits of Conducting a Fraud Risk Assessment — Part Three
- Data Security Breach — This Is Not Just for Dot.com Companies
- New Developments: OMB A-133 Audits and Fair Value Measurements
Quick Links & Good Ideas
- Quick Links and Good Ideas, January 2011
- Quick Links and Good Ideas, November 2010
- Quick Links and Good Ideas, September 2010
Strategy Insights Blog
- Measuring the Success of Your Strategy, Starts with Asking the Right Seven Questions
- Leadership Lesson from the Military: Put Away Your Iron Fist and Empower Your Troops
- The New Digital Reality: Your Brand Is No Longer in Your Own Hands
Healthcare Edge
Specialty Snapshot: Medical and Diagnostic Laboratories
The commercial medical and diagnostic laboratory industry in the U.S. consists of approximately 8,000 companies with combined revenue of approximately $45 billion. The industry is highly fragmented with the 50 largest medical lab companies generating approximately 40 percent of the...
read moreCash Balance Plans For Professional Practices
Physicians have a unique situation when it comes to retirement planning. In the early years of practice, they often focus on issues like paying off medical school loans, buying a home, saving for their children’s education, or buying into their...
read moreUsing Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
The iPad is an invaluable business tool if properly used. The first step is to realize it is not a replacement for your laptop or desktop computer(s) — although there are some things it does better. The iPad is portable,...
read moreSpecialty Snapshot: Mental Health Professionals
There are more than 100,000 mental health professionals across the U.S. with combined annual revenues of approximately $10 billion. Service revenues consist primarily of patient care services, and also include pharmaceutical sales and fees for lab tests. Within each specialty,...
read moreMedical Malpractice Insurance Premiums: How Is My Insurance Company Determining My Premium?
Medical malpractice news, debate, and discussion are not new to Illinois. In 2010, the Illinois state supreme court struck down legislation that limited the noneconomic damages to be awarded in malpractice suits. Craig Tobin, from Tobin & Munoz, notes the...
read moreChanges to Accounting for Accrued Medical Malpractice Claims and Expenses
The accounting related to recording malpractice claims and the related insurance recoveries recently changed with Accounting Standards Update 2010–24, Health Care Entities: Presentation of Insurance Claims and Related Insurance Recoveries, which made significant alterations to current practices. Prior to the...
read moreSpecialty Snapshot: Home Healthcare Services
There are approximately 33,000 home care providers across the US with combined total projected revenues in 2009 of approximately $72.2 billion. This industry is highly fragmented, and the 50 largest companies generate less than 25 percent of the total revenue...
read moreIs Your Healthcare Entity a Personal Service Corporation?
A qualified personal service corporation (PSC) is a specific type of C Corporation, providing personal services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, and consulting. Many entities currently classified as PSCs could see substantial...
read moreSmall Business Health Care Tax Credit
On March 23, 2010 the government passed the highly publicized Affordable Health Care for America Act that affected most Americans. Included in this bill were specific credits aimed to help small-business owners reduce their taxes by way of a credit...
read morePhysician Acquisitions - Nothing Will Come of Nothing
Physician acquisitions and mergers continue to dominate the healthcare sector during 2011. Hospitals, in an effort to bolster their shrinking bottom lines, strive to replace volume decreases and continued expected reductions in reimbursements by partnering with physicians. Similarly, many physicians anxiously seek to remove the uncertainty facing their own reimbursements and volumes by aligning with hospitals. Partnering can mean many things, but most often a sale of a practice is involved.
read moreSpecialty Snapshot: Nursing Homes and Long-Term Care Facilities
There are approximately 75,000 establishments across the U.S. with combined total revenues of approximately $185 billion. This sector covers many types of institutions including nursing homes, assisted living facilities, continuing care retirement communities, community-based residential facilities, residential care apartment complexes,...
read moreTo Be or Not to Be – a Doctor
Becoming a doctor used to be tops on the career totem pole. If you were a physician you were part of a distinguished profession, inherent with the respect and dignity the lengthy education and responsibility deserved. That was then, this is now. Now a doctor is the “bad guy” bringing in six figures, while the rest of us wait for months for an appointment.
read moreRising Healthcare Costs: Can We Stop the Insanity?
Was Ben Franklin America’s first healthcare expert? Looking back, Franklin understood how to stop the rising costs of care and what to do with the savings. As a common sense strategy to stop rising healthcare costs, an ounce of prevention is worth more than a pound of cure. Franklin also knew that a penny saved was a penny earned. By applying his wisdom today, business owners can provide quality healthcare and stop the insanity of rising healthcare costs.
read moreFASB Amends Accounting Standard for Healthcare Entities (Topic 954)
The Emerging Issues Task Force (EITF) reached a consensus and the FASB approved Accounting Standards Update 2011-07 “Health Care Entities: Presentation and Disclosure of Patient Service Revenue, Provision for Bad Debts, and the Allowance for Doubtful Accounts for Certain Health...
read moreEmployee Theft Adds Up, Low-Cost Solutions Could Save Thousands
Could your organization use an extra $50,000? Could your organization use an extra $50,000 it already has? It turns out that many organizations receive funds that don’t end up in the practice’s bank account due to fraud. Based upon my...
read moreSpecialty Snapshot: Ambulatory Surgical Centers
Ambulatory Surgery Centers (ASCs) include approximately 3,500 companies with 5,000 centers and a combined annual revenue of about $18 billion in the U.S. ASCs perform a variety of outpatient surgical procedures that discharge the patients the day of the surgery....
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