ASC 842 – Insights on the Lease Accounting Standard
Non-public calendar year entities are required to adopt Accounting Standards Codification 842, Leases (ASC 842).
Environmental, Social, and Governance (ESG) Models for Private Foundations
With the ever-increasing focus on an organization’s impact and overall performance – be it within a commercial or philanthropic environment ‒ Environmental, Social, and Governance (ESG) models have become one of the foremost ways to assess an organization beyond the existing traditional reporting frameworks.
Cyber Roundup – November 2022
To minimize your risk of downloading and installing a malicious app, while not foolproof, here are a few things you can do to protect yourself. Read more.
Obtaining Premium Value for Your Company
A strong financial profile is one aspect to achieving premium value for your business. Read more.
Focus on Fraud Trends
As part of role in helping organizations prevent, deter and detect fraud, our forensic accounting professionals weigh in on the highlights of the ACFE’s 2022 Report to the Nations (2022 RTN)*.
IRS Releases Tax Inflation Adjustments for Tax Year 2023
Rising inflation is impacting many aspects of the tax code. The IRS recently announced annual inflation adjustments for the 2023 tax year for over 60 tax provisions, including the 2023 standard deductions and IRS tax brackets.
U.S. Entities Must Disclose Ownership Beginning in 2024
In an effort to help prevent tax fraud and other unlawful financing activities, the Financial Crimes Enforcement Network (FinCEN) has issued final rules related to ownership disclosure obligations for U.S. entities. The final rules will be effective January 1, 2024.
FASB Proposal: Improvements to Public Entity Operating Segment Disclosures
The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) to improve the disclosures about a public entity’s reportable segments by requiring more detailed information about such expenses on an annual and interim basis.
Checks Written Before Death are Includible in Decedent’s Estate
The Tax Court held that the value of checks written prior to but paid after a decedent’s date of death were includible in the decedent’s gross estate.
Can the Finance Industry Deliver on Demand for Faster Closings, More Automation?
One of the contributors answering “Can finance industry deliver on demand for faster closings, more automation?” published on NJBiz, was Roman Matatov, Senior Manager.
After Much Confusion, OMB Retains Single Audit Collection by Census Bureau for 2022
The industry was caught off-guard when the Office of Management and Budget (OMB) announced that for Fiscal Year’s that ended in 2022, Single Audits would be collected by the General Service Administration (GSA) rather than the Bureau of Census changing a procedure that has been in place since the advent of Data Collection.
2023 Cost of Living Adjustments
Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.