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.

Business Owners, Help Your Estate by Gifting Company Stock

Posted by Dale Demyanick on March 06, 2017

An effective way to reduce estate taxes is to limit the amount of appreciation in your estate — and your company may provide just the ticket for doing so.

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BDO Knows: Technology • February 2017

Posted by on February 28, 2017

BDO Knows: Technology is available through our affiliation with BDO Alliance USA. 

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How Nonprofits Can Treat “Founder’s Syndrome”

Posted by Mary Young on February 27, 2017

“Founder’s Syndrome” occurs when a single individual — typically the founder, executive director or other long-term leader — wields a disproportionate amount of power and resists efforts to redistribute authority. Fortunately, there’s a potential cure.

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Are Your Employees Trained to Guard Against Risk?

Posted by Johnathon Miles on February 27, 2017

One of the keys to managing operational risk is well-trained personnel at all levels. After all, no matter how carefully a business designs its policies, procedures, and controls, they’re only as reliable as the employees entrusted to implement them.

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How Accounting Estimates are Audited

Posted by on February 27, 2017

Here’s a closer look at the current standards for auditing estimates and examples of specialists who may be hired to provide independent estimates.

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Good Timekeeping is Always Worth Your While

Posted by Stephanie Wilkinson on February 24, 2017

Timekeeping — for volunteers and individuals paid for their work — is necessary for most nonprofit organizations. However, there are ways to make the job less onerous.

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Take Steps to Prevent Fraud at Your Nonprofit

Posted by Jill Johnson on February 24, 2017

Most people would likely find the idea of fraud against a nonprofit organization abhorrent, but no entity is immune. 

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To Compensate or Not to Compensate Not-for-Profit Board Members

Posted by Sarah Hopkins on February 24, 2017

Not-for-profit board members generally spend a great deal of time guiding an organization’s activities. As a result, the question of compensation may arise. This article looks at what’s involved and practical steps to consider.     

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BDO Knows: Technology • February 2017

Posted by on February 20, 2017

This edition of BDO Knows: Technology, available through our affiliation with BDO Alliance USA, discusses virtual vs. augmented reality. 

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BDO Knows: Partnership Taxation • February 2017

Posted by Michē Needham on February 20, 2017

BDO Knows: Partnership Taxation, available through our affiliation with BDO Alliance USA, discusses how final regulations bring clarity for publicly traded partnerships.  

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