MKS&H Articles

Megan Baker

Megan Baker, CPA is an audit manager at MKS&H. Megan provides a full range of accounting and business consulting services for clients. Her experience includes working with personal services firms, manufacturers, death care, construction, local governments, government contract companies, distribution, and international companies. As a trusted advisor to a diverse group of clients, Megan is well-known for her ability to assist companies in becoming performance driven and achieving their financial objectives.

Recent Posts

How much do you know about the FASB Update 2015-11?

[fa icon="calendar'] Feb 1, 2017 1:56:02 PM / by Megan Baker posted in Inventory, FASB

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In July of 2015, the Financial Accounting Standards Board (FASB) issued Update 2015-11 Inventory (Topic 330), which will amend guidance within Topic 330.  If you are currently valuing your inventory using a method other than Last-in, First-out, (LIFO) or the retail inventory method, you need to make sure you are aware of this update to implement and follow it. This standard was written as part of FASB’s Simplification Initiative and should hopefully simplify your valuation of inventory approach. What this update does is change the approach to value inventory from a lower of cost or market test, to a lower of cost and net realizable value approach. The following is further information on what you need to be aware of and consider when implementing this update.

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How Managing Profit Margins can Decrease your Company's Risk Levels

[fa icon="calendar'] Oct 25, 2016 1:23:31 PM / by Megan Baker posted in Manufacturing and Distribution, Manufacturing

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As a company owner, you probably spend a lot of time managing the various risks within your company. You do it by looking at price levels, reviewing fixed costs, and understanding current market changes. But, by focusing on the methods you’ve always followed, you might not get a true picture of your current level of risk and how you need to adjust it to stay competitive.

Have you ever considered managing risk by managing your margins?

The world of manufacturing accounting is full of volatility. Margin management is one way to manage that uncertainty, by looking at costs and revenues together, instead of seeing them in independent silos.

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