Blog Archives: 2018

Highlights from the 2018 National Manufacturing Outlook and Insights Survey

Manufacturing survey title page

Washington state has long been home to iconic manufacturers. Whether they’re dealing in aerospace, wood products, medical devices or electronic gadgets, manufacturers contribute significantly to our state’s economy today.

As part of our initiative to be a valued business partner to manufacturers, we have joined with our global alliance partners to gather valuable manufacturing benchmarking data, which will be useful as part of a company’s strategic planning process.

Clark Nuber PS and The Leading Edge Global Alliance1 (LEA) recently released the annual National Manufacturing Outlook and Insights Survey for 2018.  More than 450 manufacturing executives participated in the survey,

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Integrity and Tone at the Top

This article by Marcel Schwantes references a statement by Warren Buffet about hiring practices. Mr. Buffet states that you should generally be looking for three things in job candidates: intelligence, energy, and integrity. However, if candidates don’t have integrity, you needn’t bother with the first two qualities.

The concept of integrity also plays a major role in creating a culture of fraud prevention.

In the vernacular used by fraud prevention professionals, integrity translates to tone at the top.  Tone at the top is critical in the hiring function of a business.  The article goes on to point out how a person with strong integrity is trusted by co-workers,

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The Control Environment: The Foundation of an Effective Organizational Internal Control System

COSO Series Articles Part 2 of 6: The following article is part two of a six-part series exploring the high-level basics of the COSO Integrated Internal Control Framework.1 In this installment, we will address the Control Environment, which is the foundation of an effective organizational internal control system.

COSO defines the Control Environment as the “set of standards, processes and structures that provide the basis for carrying out internal control across the organization.” This component comprises the tone at the top, communication about ethical behavior and internal control with all levels of staff, and the overall integrity and values of the organization.

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U.S. Federal Tax Bill Signed into Law: Understanding the New Law’s Impact on 2017 Accounting and Financial Reporting

On December 22, the President signed the U.S. federal tax bill into law. Therefore, as you prepare your year-end financial statements, you must account for the new law’s impacts to net income in 2017.

Who’s Impacted by the New Law?

The new law significantly impacts corporate tax strategies and cash flows. It will also impact income tax accounting for corporations. Under U.S. GAAP, changes to tax law or tax rates are recognized on the date of enactment. In the U.S., that means the date the new law is signed by the President.

Since the President signed the bill before the end of 2017,

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