D&M Manufacturing Industry Newsletter

August 2023

CPA/ABV, CFF, CDA

Featured Article From Our Experts

Is Your CPA an Expert in Manufacturing?

Manufacturing has been a crucial sector of the economy for decades, and it has become increasingly important for CPA firms to specialize in providing the best possible service to their clients in this field. Unfortunately, many CPA firms fail to treat manufacturing as a specialty area, missing out on the opportunity to truly serve their clients to the best of their ability. In this article, learn what you may be missing from your CPA firm and how Dannible & McKee's manufacturing team can better assist your specialized needs.

Jury Awards More Than $22 Million in Back Pay to Manufacturing Employees

In a recent landmark case, a jury awarded over $22 million in back wages to about 7,500 employees of a battery manufacturer (Walsh v. East Penn Manufacturing Co, Inc., DC-PA). The award marks the largest recorded verdict ever under the Fair Labor Standards Act. This article explains why this case is a cautionary tale for manufacturing companies in similar circumstances.

Can Your Manufacturing Company Benefit From ESG Initiatives?

Environmental, social, and governance (ESG) practices have become a hot topic in the business world, and for good reason. ESG initiatives are designed to promote sustainable and responsible business practices, and they have a positive impact on the environment, society, and corporate governance. In this article, we will explore what ESG initiatives are, why they matter and how your manufacturing company can benefit from implementing them.

Successfully Navigating the Shift To Reshoring Manufacturing Production Can Be Tricky

In recent years, there has been a noticeable rise in reshoring, a practice where companies bring their manufacturing production back to their home country. This shift has resulted in an increase in manufacturing jobs in the United States, leading to a positive impact on the economy and a decline in unemployment rates. Nonetheless, it’s important to weigh the potential downsides before deciding whether or not to reshore. In this article, we will explore the advantages and disadvantages of reshoring to help companies in making an informed decision.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. The hallmark of our firm is our technical expertise, depth of experience and our approach to delivering quality service to our clients. We understand the unique needs of manufacturers, and our team of manufacturing specialists are well-versed and experienced in manufacturing concerns, and able to address your needs. We are involved in many organizations that serve manufacturers, including the Manufacturers Association of Central New York (MACNY) and the Central New York Technology Development Organization (CNY TDO). We are also Upstate New York’s first-ever affiliate of GGI Global Alliance (GGI), the prestigious international organization of professional firms.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street #1, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

To learn more about Dannible & McKee, visit us at: www.dmcpas.com.

Victor W. Vaccaro, Jr.,

CPA/ABV, CFF, CDA