Depreciation is the accounting concept that evaluates an asset’s useful life. As the Internal Revenue Service (IRS) explains, depreciable property – which could include equipment, structures, means of transportation, fixtures, etc. – is examined to see how many years the purchase price can be averaged and “deducted from taxable income.” This is in contrast to .....
The presence of artificial intelligence (AI) technology in the manufacturing sector will soon become ubiquitous, writes Sergio Suarez Jr. in a recent article from Industry Today. AI technology, when incorporated successfully, gives an enormous advantage to its manufacturing users. One particular AI application, computer vision, is incredibly beneficial. “From the hiring process to the plant .....
Resiliency and innovation are trademarks of the manufacturing sector, which makes acquiring businesses in this industry an attractive proposition. In a new article from Forbes, author Vishal Bharucha offers advice to businesspeople considering purchasing a manufacturing operation, particularly in light of the post-pandemic environment. Click here to learn about Bharucha’s hallmarks of a good manufacturing .....
Pursuing a lean manufacturing mentality at the expense of customer value is not the way to go, explain Rick Bohan and Ron Jacques in a recent article from Industry Week. While lean concepts and methods can be very useful, neglecting to take into account the wants and needs of your customers will have a big .....
Women who work in the male-dominated manufacturing industry benefit enormously from the support and mentorship of their female coworkers, writes Katerina Jones in a new article for Manufacturing Business Technology. “It is important for women to mentor other women, provide opportunities, and lift each other up,” explains Jones. She hopes to inspire women in manufacturing .....
When considering whether to incorporate new automation technology into their operations, manufacturers should take into account several factors, writes Irina Lunin in a recent article for Manufacturing Business Technology. Determining the return on investment (ROI) is not a simple task. Lunin lays out six areas that manufacturers should take into account. Click here to learn .....
Being open to incorporating new business strategies is the key to pursuing new veins of profit and growth, explains a recent article from Construction World. The author recommends five approaches for bolstering your operations. From incorporating diversification to trying out new pricing and bidding strategies, the article offers a wealth of helpful advice. Click here .....
Long-lasting labor shortages in the construction industry are a painful reality for business owners in this sector—and they are only getting worse, write Brian Montelongo and Christy Crook in a new article from Construction Executive. The authors suggest that in order to recruit and retain workers, construction business owners should focus on creating training and .....
Tracking finances in a construction company is a complicated and difficult task. However, maintaining an accurate picture of your company’s financial health is integral to your ongoing success. In a recent article from Construction Business Owner, author Garrett Baird offers some helpful tips ensuring that you have access to timely and accurate financial data. His .....
Though complications caused by the coronavirus pandemic have eased relative to the last two years, a pessimistic outlook persists among nonprofit leaders, shows a recent 2022 State of the Nonprofit Sector report. A recent article from CPA Practice Advisor offers an overview of key findings from the study. Unfortunately, the report revealed significant budget shortfalls .....