Articles
New Bankruptcy Relief Provisions for Small Businesses
Carpentry is a trade that requires a great deal of professional skills. Just about anyone can go shopping and fill a toolbox with a variety of tools.
Does the PPP Flexibility Act Create a 60% Cliff?
While the pending Paycheck Protection Program Flexibility Act of 2020 does increase the amount of funds that can be spent on non-payroll costs from 25 percent to 40 percent, it appears to do so by creating a cliff.
Senate Passes the Paycheck Protection Program Flexibility Act of 2020
The Senate Passed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020, with a unanimous vote yesterday.
Coronavirus and Nonprofits: Cancellation of Fundraising Events and Membership Dues May Convert to Tax-Deductible Donations
In the wake of the coronavirus (COVID-19) pandemic, charitable organizations around the world have been forced to cancel or postpone their fundraising events.
House Proposes Changes to Relax PPP Loan Forgiveness Requirements
The House passed a bill late yesterday ‒ with near unanimous bipartisan support ‒ that would make sweeping changes to the Paycheck Protection Program (PPP) loan forgiveness if it becomes law.
FASB Delays Implementation of the Revenue Recognition and Leases Standards and Issues New ASU on Reference Rate Reform
In response to feedback received from various stakeholders, the Financial Accounting Standards Board (FASB or Board) voted on May 20, 2020 in favor of a one-year deferment of the implementation of the Revenue Recognition (ASC 606) and Leases (ASC 842) standards for private companies that have yet to issue their financial statements. This is a result of the continuing struggle private companies are facing carrying out daily accounting tasks in light of the COVID-19 pandemic.
New York Forward Loan Fund Aimed at Small Entities with 20 or Fewer Full-Time Employees
New York State recently announced an economic recovery loan program for small businesses, not-for-profit (NFP) organizations, and small landlords (50 units or less) that have seen a loss of rental income.
New Jersey Implements New Requirements for Mandatory Fees for Public Institutions of Higher Education
New Jersey’s public institutions of higher education will soon face new requirements for documenting and tracking mandatory fees charged to students.
How an Election Manager Can Assist With Board Elections
By Susan M. Barossi, CPA, Partner and Michael Caputo, CDMP Article Excerpt: Many associations take a do-it-yourself approach to organizing and running […]
FASB Delays Revenue Recognition and Leases Standard for NFPs in Response to COVID-19 Concerns
At its meeting on Wednesday, May 20, 2020, the Financial Accounting Standards Board (FASB or Board) voted on or clarified three issues involving the standards for: revenue recognition, leases, and contributions received and made.
Getting Back to the Business of Business
We don’t know for sure whether the U.S. economy will rebound and boom once the lockdown ends and we are all back to business.
Time to Get Creative – Save Money and Leverage Impact
Just as certain insurance companies have given credits or refunds for car insurance premiums because of the lack of usage […]