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Industrial Robotics Editorials

October 2019

How Robotics & IoT Help Sustain Triple Bottom Line

POSTED: 10/30/2019

Sustainability in business has become a popular topic as companies increasingly recognize the need to have a firm grip on their triple bottom line – financial, social and environmental. Financial, social and environmental risks and opportunities abound in business, but creating an operations model that speaks directly to aspects of profits,

Revenue Recognition Changes for Professional Service Companies

POSTED: 10/22/2019

It’s here! The Financial Accounting Standards Board’s (FASB) new revenue recognition standard, ASC 606, is now in effect for private companies with annual reporting periods beginning after December 15, 2018. While many professional service companies have completed their analyses and made updates to track data in accordance with the new standard, some are

Wayfair: A Year Later

POSTED: 10/02/2019

It’s been over a year since the US Supreme Court’s ruling in South Dakota v Wayfair[1]overturned the long-standing physical presence standard for imposing a sales and use tax collection responsibility.  Wayfair overturned the requirement for a physical presence in a state that was established in the 1992 case, Quill Corporation v North

September 2019

Expanding from the U.S. to Mexico

POSTED: 09/27/2019

What are the most important elements in expanding your business into Mexico successfully? Preparation and planning. For U.S. businesses wanting to expand south of the border, we use the experience we’ve gained helping other businesses expand into Mexico to help determine your best course of action. What do most clients

August 2019

I Bought the Building, So Now What?

POSTED: 08/22/2019

Many business owners “do the math” and determine that it makes financial sense to buy the building(s) in which they operate the business, instead of continuing to rent.  Generally the analysis they perform to make this decision is focused on real estate prices, current rental and interest rates, and the

Moving Machine Vision Beyond the Factory

POSTED: 08/08/2019

As more of our clients come to us looking for help solving complex problems that require machine vision as part of the solution, we find ourselves repeatedly pushing against the current limitations of the industry. Often this requires us to work with traditional suppliers to modify their current product line,

Global Challenge: Sparking the Next Agriculture Revolution

POSTED: 08/08/2019

Human progression has forever been linked to our ability to find ways to more efficiently feed ourselves. From hunter gatherer to agrarian to industrial and networked, each advancement in civilization has been led by technological advancement in agriculture.  For a historical perspective, in the United States in 1870, nearly 50% of

Considering a Merger or Acquisition?

POSTED: 08/02/2019

Ensure your understanding of the new tax regulations to get the most return out of your investment! Under the Tax Cuts and Jobs Act (TCJA), businesses have been impacted in multiple ways. In particular, businesses considering a transaction, such as a merger or acquisition, should be sure to discuss the following: Depreciation How

July 2019

How do you know if your company is ready for AI?

POSTED: 07/31/2019

Regardless of the size of the company or industry in which it operates, adding automation into a business environment can mean a significant shift in the way an organization conducts itself. Artificial intelligence (AI) and the machines and software that utilize it are no exception; in fact, Deloitte found that 90% of

Pragmatic Robots: How will robots really influence the workplace

POSTED: 07/31/2019

The robots are coming — rolling into our world on a road paved with pragmatism. Working in the field of robotics, I’m often asked by friends about some approaching apocalypse when mechanical beings — somewhere between the joy of R2D2 and the horror of HAL 9000 — will change our lives. When I instead describe

Benefit for Exports: Foreign Derived Intangible Income Deduction

POSTED: 07/16/2019

The 2017 Tax Cuts and Jobs Act (TCJA) has made C-Corporation status much more attractive to business owners, and the 21% flat tax rate has caused many to consider whether converting to a C-Corporation may be worth the switch. For some, however, the administrative burdens that come with incorporating don’t

Industrial Robots Demand Versatile Crossed Roller Bearings

POSTED: 07/03/2019

Robotics and automated machinery demand highly versatile bearings. Not only must bearings carry diverse loads with high precision, robotic motion is also becoming more complex. Machine designers must also fit their bearings into shrinking mechanisms like articulating arms that position and rotate objects.  Crossed roller bearings are designed to

June 2019

In the Industry 4.0 era, here are 5 common GAAP violations impacting the financial performance of advanced manufacturers

POSTED: 06/19/2019

Southfield, Mich. — While the manufacturing sector rapidly evolves to adapt to new and diverse Industry 4.0 technologies such as robotics and artificial intelligence, many companies are unaware that oversights in their accounting reporting may be costing their bottom lines.  According to Kevin Johns, CPA and shareholder with Clayton &

Audio Interview on AI and Robots in Industrial Applications

POSTED: 06/13/2019

Executive Vice President of OpenSystems Media, Rich Nass, is also responsible for Embedded Computing Design, and recently spoke with NexCOBOT's Director of Global Partner Alliance & Business Development, Kai Wang, on how industrial robots are expanding from automotive assembly to just about any industrial application you can think of. In

Common GAAP Violations for Manufacturers

POSTED: 06/06/2019

Across the manufacturing sector, there is a great amount of diverse strategies, footprints, and segment approaches as they deal with artificial intelligence augmented reality, and the ever-increasing spread of robotics.  From an accounting standpoint, the one thing that often unites these companies together is GAAP (Generally Accepted Accounting Principles), which provides the


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