Articles From Lumsden McCormick

Lumsden McCormick provides resources to assist you as you plan for your business and personal success. Articles published by our accountants, resources available through our affiliation with the BDO Alliance USA, and our industry-specific newsletters are listed below.

Close-up on Professional Standards for CPAs

Posted by John Schiavone on June 17, 2019

CPAs rank among the most trusted professionals. And that trust is well warranted because of the extensive guidance that accountants and auditors must follow.

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Nonprofits: You Too Could Fall Victim to a Celebrity Scandal

Posted by Maria Gambacorta on June 17, 2019

Public perceptions are difficult to influence at the best of times. If your nonprofit lands in the middle of a PR crisis thanks to a disgraced celebrity supporter, the worst possible action is to take none.

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Does Your Nonprofit Need a CFO?

Posted by Peter DeSabio on June 17, 2019

Nonprofit CFOs do more than you may think. Depending on the size of the organization, they may oversee HR, IT, facilities and legal affairs, in addition to accounting. 

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Does Your Company Allow Vaping on the Job?

Posted by Stephanie Wilkinson on June 17, 2019

The question of whether or not to allow vaping at work can be a thorny one to tackle.

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Don’t Let a Disaster Defeat Your Nonprofit

Posted by G. Scott Murray on June 14, 2019

No nonprofit can anticipate or eliminate all possible risks. But you can limit the damage of natural and manmade disasters and get back to work faster if you develop a continuity plan.

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Predicting Future Performance

Posted by Sherry DelleBovi on June 14, 2019

CPAs don’t have a crystal ball, but they can estimate your company’s future performance.

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IRS and Treasury Release Second Set of Opportunity Zone Guidance

Posted by Cory Van Deusen V on June 14, 2019

On April 17, 2019, the IRS and Treasury issued its much anticipated second set of proposed regulations under Internal Revenue Code, Section 1400Z-2, Special rules for capital gains invested in opportunity zones. 

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Can “Collective Impact” Help Your Nonprofit Accomplish More?

Posted by Jill Johnson on June 14, 2019

“Collective impact” projects can succeed in ways that simply aren’t available to individual nonprofit organizations, but these cross-sector initiatives can be complicated and time-consuming.

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Divide and Conquer: How Joint Cost Allocating Works

Posted by Sarah Hopkins on June 14, 2019

In many cases, your nonprofit is allowed to allocate costs between fundraising and other functions as long as you meet three joint activities criteria. What are they?

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Put a QOE Report to Work for You

Posted by Timothy Bubar on June 14, 2019

Are you buying or selling a business? If so, a quality of earnings (QOE) report can help identify potential problems and value-adding opportunities, as well as expedite the M&A due diligence process.

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