Whalen CPAs: Firm News

What’s New at Whalen CPAs?

Exciting things are always happening at Whalen CPAs! Stay abreast of firm news and Contact Us if you have any questions.

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Spotlight on auditor independence
Auditor independence is the cornerstone of the accounting profession. Auditors’ commitment to follow the standards set forth by the American
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Cash-basis
Financial statements are critical to monitoring your business’s financial health. In addition to helping management make informed business decisions, year-end
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New option for unused funds in a 529 college savings plan
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to
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Hiring an Associate Dentist: Timing & Key Metrics for Success
Part 2: The Right Time Many practitioners are curious about when to hire an associate dentist to help with the
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Auditing revenue recognition
The top line of an income statement for a for-profit business is revenue (or sales). Reporting this line item correctly
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Get ready for the 2023 gift tax return deadline
Did you make large gifts to your children, grandchildren, or others last year? If so, it’s important to determine if
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Liquidity overload: Why having too much in your cash reserves may be bad for business
In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have
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adding an associate
Part 1: The Right Reasons One of the most challenging decisions facing a seasoned practitioner is whether to add a
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Inventory management systems: What’s right for your business?
If your business has significant inventory on its balance sheet, it can be costly. The carrying costs of inventory include
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Solid financial reporting can help attract debt and equity financing
Financial reporting plays a key role when a business needs funds for continued operations and strategic investment opportunities. Lenders and
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