What is a Net Operating Loss (NOL) Carry Forward and Carry Back? A net operating loss (NOL) occurs when your deductions for the year are more than your gross income. An NOL year is the year in which an NOL occurs. You can use an NOL by deducting it from your income in another year Read more…
Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, individuals who itemize their federal tax deductions have been limited to a $10,000 deduction for state and local income taxes (“state taxes”). This has impacted taxpayers in high tax states such as California, New Jersey, and New York. California’s Elective Pass-Through Entity Read more…
Sensiba, one of the region’s top 20 accounting firms, announced today the expansion of its BlackLine implementation capabilities and the move from Alliances Partner to a BlackLine Gold Solution Provider. Together, Sensiba and BlackLine will help mid-market companies transform their existing finance and accounting (F&A) departments into true modern accounting organizations, with Sensiba adding BlackLine’s cloud-based financial close Read more…
Are you looking to have a business valuation or learn more about what they entail? We’ve got you covered. Below is our guide to business valuations: why you need them, what the process is like, what the benefits are, and how to get started. What is Business Valuation? A business valuation is a process used Read more…
With the generous tax benefits available to taxpayers investing capital gains in Opportunity Zones, real estate-focused businesses and investors should consider immediate action. The opportunity for long-term tax benefits combined with potentially significant returns from appreciated real estate appears unparalleled and, if properly structured and managed, could give rise to greater tax savings than traditional Read more…
In a survey that asked 2,300 organizations about their month-end close, the bottom 25% needed 10+ days to finish, while the top 25% needed five days or less. So, where do you fit on that spectrum? No matter what position you occupy, every accountant wants (and probably needs) to improve the time and labor-intensive close Read more…
A couple of decades ago, most business owners would argue that social responsibility had little to do with the mission of a business. Today, however, we are witnessing a movement of companies using their corporate success as a tool for social and environmental change. One big indicator of this movement is an increase in companies Read more…
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…
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…