
5 VALUABLE BENEFITS OF OUTSOURCING ACCOUNTING SERVICES
More and more businesses in Philadelphia are outsourcing accounting services in order to save time, money and gain advantageous expertise. DGK Group specializes in small business accounting services. We see day in and day out all of the rewards businesses reap as a result of our services. We handle everything from financial statement reporting to […]

5 WAYS TO HELP PROTECT YOUR SMALL BUSINESS FROM FRAUD
Small businesses are at a greater risk for fraud than large corporations, which is why it’s so important to protect your company in every way possible. According to research collected by the Association of Certified Fraud Examiners (ACFE), businesses with fewer than 100 employees lose an average of around $155,000 per year due to fraudulent […]

7 THINGS YOU NEED TO KNOW ABOUT YOUR 401(K)
How much do you know about 401(k) plans, yours in particular? You might be surprised to find out how many people with a 401(k) remain unsure about the details of their plan. 401(k) plans are one of the most popular ways people save for retirement, largely because many employers offer them as a benefit. If […]

DETAILED LOOK AT FOUR BASIC FINANCIAL STATEMENTS
Detailed Look At Four Basic Financial Statements Accounting can be complicated but when you break it down into different parts it’s far more manageable. The four main financial statements include: balance sheets, income statements, cash flow statements and statements of shareholders’ equity. These four financial statements are considered common accounting principles as outlined by GAAP. […]

5 COMMON ACCOUNTING MISTAKES THAT COST BUSINESSES BIG MONEY
Small accounting mistakes can cost your business big time, limiting growth and causing serious setbacks. Here are 5 common accounting mistakes that you can avoid by simply being in the know. 1. Counting Profits As Cash Flow In order to operate a business you have to make investments and purchase product, supplies, etc., but beware […]

HOW TO KNOW IF YOU NEED TO HIRE A FORENSIC ACCOUNTANT
If you have been robbed or financially taken advantage of in any way you may need to hire a forensic accountant in order to seek justice. A forensic accountant is a trained professional that combines a host of skills to investigate financial cases from the inside out. There are many reasons people hire Forensic Accountants, […]
NEW VIDEO ON UNDERSTANDING COMFORT LETTER REQUESTS
Requests for third-party verification letters (comfort letters) are rising. Lenders, government agencies and others are looking for assurance on, or verification of, a variety of information. How should CPAs respond? This video provides details. For more information please visit the AICPA website here.

AUDIT HELP FOR SMALL BUSINESSES: HOW TO PREPARE FOR AN AUDIT BY THE IRS
There is a great deal of stress associated with business audits, but with proper preparations the entire ordeal can be a lot less intimidating. There are few, if any, people that are unafraid of the IRS—even if you’ve done everything right as best to your ability. When you are notified of an audit you should […]

COMMON TYPES OF EMPLOYER-SPONSORED RETIREMENT PLANS
There is no one size fits all employer-sponsored retirement plan. Instead, there are many options out there, and the best one for you depends on a number of factors. In general, an employer-sponsored retirement plan provides useful benefits to both employees and employers. These plans include things like automatic paycheck dedications transferred to savings, tax […]

6 TIPS FOR A SUCCESSFUL MERGER AND ACQUISITION PROCESS
Acquiring a new company is about more than just gaining a lead on the market. It’s about combining two separate entities into one successful force. The process includes merging computer systems, financial challenges and marketing teams, plus so much more. Mergers equate to a lot of work, but when done properly can lead to a […]

8 SIGNS YOUR SMALL BUSINESS SHOULD CONSIDER OUTSOURCING CFO SERVICES
When a business is seeking a greater understanding of their financial position they often turn to a CFO, a Chief Financial Officer. An outsourced CFO provides ample insights to help your business increase in strength and financial security without the same costs of hiring an experienced CFO full-time. By outsourcing this important service with DGK […]

THE DIFFERENCES BETWEEN A BOOKKEEPER AND AN ACCOUNTANT
Every business needs bookkeeping and accounting to remain successful, and while these two terms are often lumped together they are not the same thing. In simplest terms, bookkeeping includes the actual recording of all financial transactions. Accounting is the process of interpreting, analyzing, classifying, reporting and summarizing the financial data. Bookkeeping is a generalized set […]