Adopting ASC 842: Where Are Your Leases Hiding?

Inventorying leases is an important first step in ASC 842 adoption.

A Change to Business Combinations to Consider Early Adopting

An accounting change may make early adoption of a business combination provision more appealing.

Private Companies Given Greater Flexibility in Using the Risk-Free Discount Rate for Lease Accounting

A new lease accounting standard may make adoption more cost-efficient for private entities.

Reviewing the Advantages of a SOC 2 Security Framework

The selection of the right information technology security control framework often comes down to a couple of key factors. This article helps decipher which IT security framework might suit your business best.

Prepare for Impact: Navigating the R&D Tax Incentive Changes

The forthcoming changes to the research and development (R&D) tax deduction will affect companies in all stages—from startups to multinational corporations with global interests.

Managing the Retroactive Repeal of the Q4 Employee Retention Tax Credit

The Infrastructure Investment and Jobs Act will bring an early sunset to the popular Employee Retention Tax Credit program.

Prepare for the Impact of Lease Accounting on Your Financial Statement

A quick overview of what to expect so your company can be better prepared for its new reporting obligations under the new lease accounting standard, ASC 842.

No More Delays to Lease Accounting Changes

The FASB ruled that lease accounting’s effective date will not be adjusted again.

What to Expect from Your 2021 Audits and Reviews

Business practices continue to evolve, and the accounting world is no different. For organizations that receive audits — including those that receive financial statement reviews — there are developments affecting accounting department and changes in the way audits and attest services are being conducted that may affect your experience with your auditor.

Transfer Pricing Issues in the Changing Global Tax Climate

A wave of proposed legislation could dramatically impact estate planning techniques, including gifts made through trusts.

Build Back Better Plan Tax Proposals May Affect Your Estate Plan

A wave of proposed legislation could dramatically impact estate planning techniques, including gifts made through trusts.

4 Employee Benefit Plan Stories to Monitor in Q4 2021

Employee benefit plan sponsors have their hands full when it comes to monitoring regulatory trends and other updates that may affect plan operations, administration and compliance. The following developments may be of interest to your plan compliance, particularly in the months ahead.

SOC 2: The Solution to Tedious Security Questionnaires

Vendors and customers are understandably concerned about IT security in our current environment of data leaks and cyber-attacks. One of the ways cybersecurity concern manifests for service organizations is through information security questionnaires.

These 3 Ws Are Key Takeaways from Recent Cybersecurity Incidents

Findings from high profile data breaches, from the SolarWinds Hack to the attack on hotel chain Marriott, provide indicators of how malicious cyber actors can infiltrate an organization’s security protocol that your organization may find useful for planning.

3 Key Audit Risks That Affect Broker-Dealers

There are issues that affect audits of nearly all broker-dealers. Understanding these audit risk areas can help guide your organization’s selection of a qualified auditor.

Partnership Tax Law Changes In Focus under Draft Infrastructure Legislation

The House Ways and Means Committee and the Senate Finance Committee, the two primary architects of tax legislation in Congress, have each released competing plans for tax legislation that would impact partnerships.

Improve Your Responsiveness to Ransomware

As ransomware style attacks grow in frequency and magnitude, organizations need to be prepared for the new information security threats they face.

How Private Companies Can Navigate the Accounting for Cloud Computing Arrangements

What private entities should know about the standard for their reporting in regard to FASB's ASU 2018-15 Cloud Computing Arrangements guidance.

PCAOB Report Provides Valuable Information for Selecting a Broker-Dealer Auditor

The IRS is on the verge of a major enforcement initiative authorized by Congress that will affect partnerships and their partners.

IRS Enforcement Machine Coming for Partnerships and Their Partners

The IRS is on the verge of a major enforcement initiative authorized by Congress that will affect partnerships and their partners.

3 Takeaways from the OMB 2021 Compliance Supplement

In August the Office of Management and Budget (OMB) released its 2021 Compliance Supplement, 2 CFR Part 200 Appendix XI (Compliance Supplement), effecting Not-for-profits that receive federal grants.

How the New Auditor Report Format Will Affect Your 2022 Audit

Key updates financial leaders will want to understand about the AICPA updates to the form and content requirements for financial statement auditors’ reports, effective for audit periods ending after Dec. 15, 2021.

LIBOR No More: What You Need to Know

The London Interbank Offer Rate (LIBOR) is the current interest benchmark for bonds, loans, derivatives and securitizations worldwide.

House Democrats Release Tax Legislative Blueprint for the Build Back Better Plan

The House Ways and Means Committee released discussion drafts that detail various tax increases or incentives for their version of President Biden’s “Build Back Better” infrastructure plan.

Are You ‘Wealthy’ Enough for a Tax Increase?

Here is a summary of who might be affected by the tax changes in the Biden administration’s infrastructure bill.

Convertible Debt Vs. SAFEs: What Qualifies As Qualified Small Business Stock?

Our aims to provide clarity on where potential Qualified Small Business Stock opportunities may exist.

Take Control of Accounting for Your Digital Assets

Companies are beginning to enter into nontraditional investments, such as Bitcoin and other digital assets.

MHM Continues Recent Growth with Acquisition of San Francisco Based SLD

Mayer Hoffman McCann P.C. (MHM) today announced that it has signed a definitive agreement to acquire the attest practice of Shea Labagh Dobberstein (SLD), a leading accounting service provider based in San Francisco, CA, with a closing effective September 1, 2021.

A Closer Look at SALT Cap Workarounds

States are finding ways around the limit on the TCJA limit on state and local tax deductions.

Private Companies Need to Update Consolidation Accounting before Year End

As a reminder, private companies need to check with these elements of consolidation accounting.

Construction Vital Statistics - July 2021

View key metrics regarding the construction industry for the month of July.

4 Tax Moves to Consider if Planning for M&A

If M&A activity is in the cards for your business, you need to understand how recent tax developments could affect your strategy.

Infrastructure Bill Clears Senate and Returns to House for Approval

The first installment of the Biden Administration’s “Build Back Better” infrastructure package is now one step closer to reality.

What You Should Know About Automation of SOC 2 Reports

Third party data breaches happen all the time, so it’s important to keep your client’s customer data safe.

FASB Issues New Lease Accounting Guidance for Lessors

This resource provides additional guidance on how the new accounting standard may affect lease accounting for lessors.

Construction Vital Statistics - June 2021

View key metrics regarding the construction industry for the month of June.

The IRS is Knocking at Your Door

Receiving a notice from the IRS can be intimidating for individual taxpayers. Our resource clarifies what you should know to navigate the IRS collection process.

FASB Issues New Guidance on Accounting for Modifications or Exchanges of Equity-Classified Written Call Options

Changes are coming to the accounting for certain equity instruments.

This Not-for-Profit Sector is in the Crosshairs of Cyber Criminals

Some not-for-profit entities may be more vulnerable to information security incidents and data breaches. Here’s what your organization needs to know about to protect itself from key cybersecurity risks.

Construction Vital Statistics - May 2021

View key metrics regarding the construction industry for the month of May.

What the New York Pass-Through Entity Tax Means for Private Equity and Venture Capital

The 2017 tax reform law commonly known as the Tax Cuts and Jobs Act (TCJA) caught states off-guard.

Supreme Court Upholds Affordable Care Act, Again: the Taxpayer Implications

A look at the tax consequences of the recent Supreme Court ruling.

What CFOs Should Know About Their Cyber Programs

CFOs can help manage their risk protocol by reviewing the following areas.

Biden Administration Provides Further Details on Tax Plan

Analysis of the tax changes outlined in the Treasury Department’s Green Book provide more insight into the Biden Administration’s plan to finance infrastructure reform.

Cybersecurity and Retirement Plans: What You Need to Know

Here are some action items organizations with retirement plans can take to secure plan data.

Tax and SPAC – The Tax Ramifications of Going Public with a SPAC

Special purpose acquisition companies, or SPACs, continue to grow in popularity as private companies look for alternative means of accessing the public market outside of a traditional initial public offering (IPO).

How Not-for-Profits Can Navigate the Intricacies of the Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) was enacted as part of the early COVID-19 stimulus measures, and can be claimed through Dec. 31, 2021 by eligible employers who retained employees during the COVID-19 pandemic.

Is It Time to Put Lease Accounting Back on the To-Do List?

After some delays, standard changes to the lease accounting model for private companies and not-for-profit organizations are once again on the horizon.

3 Pandemic Ramifications Affecting Employee Benefit Plan Audits in 2021

Notable changes made to retirement plans in 2020 could affect 2021 employee benefit plan audits.

Construction Vital Statistics - April 2021

View key metrics regarding the construction industry for the month of April.