Insights

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-For-Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made (Subtopic 958-605), in part, to eliminate the diversity in practice in recognizing grants received from governmental sources.

The Spring edition of PKF Worldwide Tax Update is currently available online.

With the exception of the last bulleted item about the proposed federal Data Protection Agency, this month’s edition of Cyber Roundup soberly sets out various cybercrimes that are morphing into even more destructive acts, resulting in ever-expanding harm to businesses and individuals.

According to recent government statistics, there are roughly nine million U.S. citizens living outside the U.S., many of whom are citizens by birth but have little or no family or economic ties to this country.

The Securities and Exchange Commission (SEC) recently issued proposed amendments to modernize and eliminate certain duplicative registrant disclosures in Regulation S-K.

Over the years, donor-advised funds (DAFs) have become increasingly larger in number and more influential in the philanthropic community.

Unfortunately, fraud is an all-to-common occurrence and no industry is immune. Intentional deception to realize unlawful gains are often perpetrated by an organization’s own management or employees, with or without the assistance of outside parties.