Quick References
Councilor, Buchanan & Mitchell’s (CBM) Quick References are high-level insights about critical issues and concerns facing your organization. CBM’s outsourced accounting and advisory group is available to help you implement solutions to keep your business on the track to long-term success.
Smart Cash Management
Stakeholders want confidence that an organization’s cash is secure and insured. The Federal Deposit Insurance Corporation insurance coverage is $250,000 per depositor, per insured bank, for each ownership category. We recommend considering the following deposit account alternatives as part of your cash investment strategy.
The New Lease Standard
The new lease standard is intended to account for all lease obligations on financial statements, rather than excluding operating leases as has been the standard. This change ensures a company’s financial situation is reflected as accurately as possible within the financial statements.
Cyber Liability Insurance
Standard business insurance policies provide coverage for certain cyber incidents. For instance, if you lose electronic data due to a computer virus or hardware failure, your insurance may pay recovery or replacement costs. To extend coverage for a wider range of risks, you will need a stand-alone, customized cyber liability policy.
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