Here’s a simple question: Would you rather continue to manage accounts payable manually or put the whole process into an automated workflow? Considering the amount of time consumed by staff and other resources in the AP process, most companies should jump at the opportunity to automate. Fortunately, that’s never been more possible than now. Benefits Read more…
Sensiba ranked among top Accounting Firms for consistently earning industry-leading client satisfaction scores for six consecutive years Sensiba, a leading 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 Award recognizes organizations providing superior service to their clients Read more…
Along with providing an infusion of capital to a growing company, going public brings strict financial reporting and compliance requirements that must be in place well before the offering. To meet investor expectations for a timely closing and regulatory requirements to provide accurate disclosures, pre-IPO companies need to have the right people, processes, and technology Read more…
Revenue and expenses, as reported on your company’s income statement, have limited usefulness to people inside the organization. Managers often need information presented in a different format in order to make operational and strategic decisions. That’s where activity-based costing comes into play. This costing system is commonly used in the manufacturing and construction sectors to Read more…
Your business needs financial statements so management can monitor performance, attract investment capital and borrow money from a bank or other lender. But not all financial statements are created equal. Audited statements are considered the “gold standard” in financial reporting. While public companies are required to issue audited statements, smaller, privately held organizations have options. Read more…
Sensiba LLP to be honored at Global Event on February 24 (Pleasanton, CA)- (January 12, 2022) – Sensiba, a leading accounting and business consulting firm, is honored to announce its place among the selected winners of the Real Leaders 2022 “Top Impact Companies” from around the world. Real Leaders recognizes leaders and organizations that are Read more…
Beyond regulatory requirements, developing an effective internal controls framework is valuable in helping your company manage risk. Identifying and mitigating the company’s financial and operational risks under the Sarbanes Oxley Act’s (SOX) Section 404 requirements can also be a prudent investment in improving efficiency by aligning management’s priorities with the organization’s internal processes and operations. Read more…
The process of building a sustainable, comprehensive internal control environment sufficient to comply with the Sarbanes-Oxley act of 2002 (SOX) requires a significant investment of organizational resources. We have created the Zero to SOX implementation process to assist organizations in this endeavor. A Five-Year Window for SOX Internal Control Audit Requirements On March 12, 2020, Read more…
Pleasanton, Calif., December 28, 2021 – Sensiba LLP is pleased to announce that SGA CPAs & Consultants LLP, based in Bend, Oregon, will be merging with the firm. The merger took effect December 15, 2021. “We are thrilled to be merging with such an incredible firm. The quality of the people and strong cultural fit was Read more…
Brandon Scripps Brings Over 15 Years of Audit and Leadership Experience Pleasanton, CA, December 8, 2021 – Sensiba, a leading Northern California-based accounting and business consulting firm, is pleased to announce that Brandon Scripps has been appointed Audit Partner-in-Charge. Brandon works with closely-held businesses of all sizes, from start-ups to multi-generational family businesses. Brandon has Read more…
Several SOX challenges can affect a company’s ability to maintain an effective controls framework, or potentially hinder its ability to demonstrate that its ICFR efforts serve their intended purpose. Common SOX Challenges 1. A lack of executive or board support for the organization’s SOX program. Management’s commitment to effective controls and financial reporting is a Read more…
Sustainability reports explain the impact of an organization’s activities on the economy, environment, and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reporting, with a stronger emphasis on the social and economic impacts of the company’s current operations than on environmental matters. Investors, lenders, and even the public at Read more…
Three Valleys Community Foundation will provide specialized, place-based philanthropic services November 1, 2021 (Tri-Valley, California) – A new geographically based community foundation, Three Valleys Community Foundation (3VCF), has launched, with a vision to enhance the quality of life in the Tri-Valley and greater East Bay area. The name, Three Valleys, is a nod to the Read more…
Understanding and Avoiding Discount Rate Myths in Lease Accounting As companies adopt ASC 842, selecting and estimating the discount rates embedded within their various leases will play an important role in their implementation as well as their accounting going forward. These decisions can be complicated by common misunderstandings about the different types of discount rates Read more…
Pleasanton, Calif., October 8, 2021 – Sensiba, a leading Northern California-based CPA and business consulting firm, is extremely proud to announce that Director of Marketing and Sustainability, Jennifer Cantero has joined the 2021 Class of Influential Women in Bay Area Business. The San Francisco Business Times’ annual Most Influential Women in Business publication celebrates the Read more…
One of the many determinations companies need to make as they implement ASC 842, the new lease accounting standard, is calculating the appropriate discount rate for their leases. For lessees, selecting and estimating the discount rate will have an impact on the lease liability and right of use asset (ROU) on the organization’s balance sheet. Read more…
Sensiba recognized for its commitment to social, environmental, and corporate governance. Pleasanton, CA, August 19th – Sensiba, a leading Northern California-based accounting and business consulting firm, is honored to be recognized by CREW Silicon Valley with a Community Impact Award. “Being recognized for our push toward equitable social and environmental policies is an honor,” said John Sensiba, Read more…
Get Prepared for ASC 842 Lease Accounting Standard Private companies and nonprofits will soon be subject to the ASC 842 lease accounting standard. Adopting this standard is effective for annual reporting periods ending after December 15, 2021. For calendar year-end companies, the effective date is January 1, 2022. For companies with a fiscal year-end, the Read more…
Many types of businesses — such as homebuilders and manufacturers — turn raw materials into finished products for customers. Production is a continuous process. So, any work that’s been started but isn’t yet completed before the end of the accounting period is reported as work in progress (WIP) under U.S. Generally Accepted Accounting Principles (GAAP). Read more…
Businesses rely on internal controls to help ensure the accuracy and integrity of their financial statements, as well as prevent fraud, waste, and abuse. Given their importance, internal controls are a key area of focus for internal and external auditors. Many auditors use detailed internal control questionnaires to help evaluate the internal control environment — Read more…