A year ago this month, states began enacting remote seller sales tax nexus legislation. The legislation mirrored ‒ or at least rhymed with ‒ the test case legislation upheld in the United States Supreme Court’s South Dakota v. Wayfair decision.
he London Interbank Offered Rate (LIBOR) is one of the most commonly used benchmark interest rates for derivative and other commercial agreements; however, after 2021, financial institutions that currently report the information used to set LIBOR will no longer be required to do so.
As the year-end fast approaches, the implementation requirements of FASB ASU 2018-13, Fair Value Measurement (Topic 820), become effective for all entities for fiscal years beginning after December 15, 2019
As many in the private foundation community know, private foundations may distribute grants to organizations other than public charities ‒ […]
Last year the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU), Not-For-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made (Subtopic 958-605)
All businesses must periodically test their policies and procedures to be proactive in ensuring that they are comprehensive and fit any changing circumstances. Your information technology (hardware, software, archives, programs, staff, etc.) is one such area that must be considered.
In July 2019, the Office of Management and Budget (OMB) released the final 2019 Compliance Supplement. The 2019 supplement is effective for Single Audits of fiscal years beginning after June 30, 2018. It supersedes the 2018 supplement.
Traditionally, private foundations have been associated with grant-making; however, foundations are also offered other alternatives to carry out their charitable mission and to meet distribution requirements.