BREAKING NEWS

Announcing Our Newest Partner

BMF welcomes with pride and purpose, our newest partner, Marie Lenarduzzi!

Articles & Publications

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Unfinished Business: Managing WIP Inventory Effectively

Work-in-process (WIP) inventory hold significant weight on a manufacturer’s balance sheet, playing a pivotal role in financial accuracy and performance evaluation. By closely monitoring WIP, manufacturers not only maintain the integrity of their financial statements but also gain valuable. Read More >>

Navigating Employee Retention in Manufacturing: A Strategic Imperative

In today’s manufacturing landscape, the scarcity of skilled labor makes retaining existing employees more critical than ever. Whether grappling with the lasting effects of the COVID-19 pandemic, addressing the exodus of the baby boomer generation, or navigating internal industry. Read More >>

Assessing the Profitability of Your Products

As a manufacturer, it’s essential to have a clear understanding of the profitability of your individual products, not just your overall company profitability. By assessing the profitability of each product line, you can optimize your strategies and make informed. Read More >>

Incentivizing Manufacturing: CHIPS and Science Act, Inflation Reduction Act

Before going into their August recess, both Houses passed the CHIPS and Science Act of 2022, which The President is expected to sign shortly. The Senate also announced the Inflation Reduction Act of 2022 as a budget reconciliation bill.. Read More >>

Financial Statement Audits in a Post-COVID World

The COVID-19 pandemic has significantly impacted the way professional service firms interact with and deliver services to their clients. Early in the pandemic, CPAs and other professional service providers had to quickly pivot and learn how to collaborate with. Read More >>

Bonus Depreciation and Sec. 179 Expense – What’s the difference?

Many business owners, especially in the manufacturing sector, were pleased that the Tax Cuts and Jobs Act (TCJA) expanded the first-year bonus depreciation and the first-year Section 179 deductions. These two tax breaks are lucrative for capital-intensive manufacturers, who. Read More >>

4 Steps to an Effective Fraud Prevention Strategy

Fraud perpetrated against a company can result in significant damages and recent data suggests that fraud losses at manufacturing companies can be particularly devastating. According to the 2018 Report to the Nations published by the Association of Certified Fraud. Read More >>

Manufacturing Business Expenses: 4 Tips for Deducting Meal & Entertainment Costs

Manufacturing owners have numerous questions around travel and entertainment expenses when attending trade shows, visiting with customers, meeting with suppliers, golf outings and other business trips. The rules and record-keeping can be a nightmare for the accounting team and. Read More >>

Measuring Product Profitability: The Power and Pitfalls of Gross Profit Margin

Let’s start off with a story to show you the power of your gross profit margin: Company A sells 1,000 widgets to three customers at a 20% gross profit of $600. Company B sells 1,000 widgets to 300 customers. Read More >>

Revenue Recognition Issue 10 – Special Focus: Distribution

Companies that focus their efforts strictly in distribution may not think there is much change that could be required to their methods of revenue recognition. After all, they just take someone else’s product and ship it to their own. Read More >>