Imagine you’re driving on the freeway. You’re maintaining the speed limit, abiding by all traffic laws, going about your typical morning commute. A flashy red sports car suddenly appears in your rearview mirror, tailgating inches from your bumper. After several seconds the car swerves to the other lane and immediately proceeds to bolt in front Read more…
New Accounting Standards Codification (“ASC”) 606 and 842 apply to revenue from contracts with customers and accounting for lease arrangements. Private equity and venture capital funds do not generally have either revenue or leases running through their fund financials. Therefore, there is a presumption that these standards will have little to no impact on funds Read more…
As many businesses are closed or are limiting third-party access due to COVID-19 surges across the United States, auditors will be less likely to visit in person in 2021. Many services, such as year-end inventory observations, management inquiries, and audit testing, must be performed remotely. You may have already worked remotely with your auditor Read more…
Breakeven point analysis can be useful when investing in new equipment, launching a new product, or analyzing the effects of a cost reduction plan. During the COVID-19 pandemic, however, many struggling companies are using it to evaluate how much longer they can afford to keep their doors open. Fixed vs. variable costs Breakeven can be Read more…
Sensiba ranked among top Accounting Firms for consistently earning industry-leading client satisfaction scores for five consecutive years Pleasanton, CA — February 2, 2021 – Sensiba, a leading Northern California-based accounting and business consulting firm, is honored to announce its place among selected recipients of the Best of Accounting Diamond Award. ClearlyRated’s Best of Accounting Diamond Read more…
Sensiba, a leading Northern California-based accounting and business consulting firm, is honored to announce its place among selected recipients of the Top Workplace USA award. Top Workplace recognizes organizations with exceptional employee engagement, and Sensiba is delighted to receive this distinction. Being recognized among the Top Workplaces on the national level is validation that Sensiba Read more…
Businesses and not-for-profit entities capitalize on machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to properly report these long-lived assets under U.S. Generally Accepted Accounting Principles (GAAP). What’s included in book value? PPE is reported on the balance sheet Read more…
Sensiba to be honored at Global Event on January 27th Pleasanton, CA — January 13, 2021 – Sensiba, a leading Northern California-based accounting and business consulting firm, is honored to announce its place among the selected winners of the Real Leaders 2021 “Top Impact Companies” from around the world. Real Leaders recognizes leaders and organizations Read more…
Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers, and find alternative funding sources when cash is tight. Best Practices for Conducting Cash Flow Forecasts Consider applying these four Read more…
When the shelter-in-place order was instituted several months ago, Sensiba was well-positioned to quickly pivot to working remotely. The past few months have proven we can make that work successfully on a much larger scale without sacrificing our commitment to serving you. With our lease coming up for renewal in Morgan Hill this year, we Read more…
If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess of their income. You can’t deduct the excess expenses (losses) against earned income or against other nonpassive income. Nonpassive income for this purpose includes interest, dividends, annuities, royalties, gains and losses from Read more…
Innovative Venture from Top Bay Area Accounting and Consulting Firm Will Guide Companies’ Strategic Transition to Purpose-Driven Business Models PLEASANTON, Calif. — Sensiba, a leading Northern California-based accounting and business consulting firm, is pleased to announce it has launched the Sensiba Center for Sustainability. The newly branded effort brings greater clarity to the firm’s Impact Read more…
Five ethnically diverse students receive up to $20,000 in scholarships and internships with public accounting firms during the 2021 busy season. Pleasanton (September 8, 2020) – Sensiba, a leading Northern California-based accounting and business consulting firm, is pleased to announce the participation in The American Institute of CPAs (AICPA) 2020 George Willie Ethnically Diverse Student Scholarship Read more…
Recent hard times are causing private companies to re-evaluate the type of financial statements they should generate. Some are considering downgrading to lower levels of assurance to reduce financial reporting costs — but a downgrade may compromise financial reporting quality and reliability. Others recognize there are additional risks, leading them to upgrade their assurance level Read more…
Sensiba Earns Bay Area Top Workplace Distinction for the Seventh Year Sensiba ranked among the top 30 mid-size Bay Area companies Pleasanton, CA – August 24, 2020 – Sensiba, a leading Northern California-based accounting and business consulting firm, is excited to announce that it has been named one of the top mid-size companies by the Read more…