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Financial institutions, investment service organizations, insurers, and creditors typically are required to implement and follow “know your customer” (KYC) policies as part of a larger scale anti-money laundering (AML) effort.
While many organizations prioritize increasing product and service sales to boost profit growth, focusing on sales volume alone doesn’t necessarily increase profits. In fact, pushing more sales through an inflated
As a non-profit leader, it’s critical to manage risks well. You likely have to consider and act to mitigate risk to your facilities and assets, but also your clients and
One of the most effective ways to provide for your children in your estate plan is to set up trusts for them. Trusts offer many benefits, including the flexibility of
If your organization operates in the business-to-business (B2B) marketplace, you’ve probably experienced a few difficulties with collections. Every organization, whether buyer or seller, is trying to manage cash flow. That
Luxurious vacation properties in upscale areas often appreciate significantly in value compared to what the owners paid for them. While this is beneficial, tax implications need to be considered. Here
It’s not unusual for a partner to have expenses related to the business. This happens more often in service partnerships such as architecture or a law firm. For instance, partners
Outsourcing has become an increasingly popular strategy for organizations aiming to allocate resources strategically. While the decision for outsourcing payroll management can vary depending on factors such as organization size,
The U.S. Department of Labor (DOL) has recently announced significant changes to the regulations governing overtime pay eligibility, impacting millions of American workers. Let’s dive into the key aspects of
Working together can bring out the best and worst in family dynamics. Here are some key considerations that valuation experts take into account when assessing these family-owned entities. Family Members
Having accurate, timely financial information is important in decision making for executives, board members, investors, and other stakeholders. But not everyone who reads your financial statements will understand the numbers
In many workplaces, the human resources (HR) department is the face of the employer. HR departments are the ones who generally communicate new employment policies and are in charge of
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