Posts by Aprio Publisher
Revenue Recognition for E-Learning Tools
Many nonprofits offer electronic learning tools to members and nonmembers. These can include items such as electronic textbooks, on-demand learning courses, or webinars (collectively, “e-learning”). The accounting for e-learning revenue depends on when control is being transferred to the customer and if it contains a license of intellectual property. According to FASB ASC 606-10-55-54, a…
Read MoreBuyer Beware: Individual 401(k) Plans
Individual 401(k) plans, aka solo(k)s, uni(k)s etc., have become very popular retirement vehicles for owner only businesses, with popular vendors and the media regularly touting their merits. These plans are typically stripped down versions of “full blown” 401(k) plans with a reduced administrative and reporting burden. When utilized in the correct situation, solo(k) plans are…
Read MoreGSA to Expand Startup Springboard to All MAS SINs
Written by Jennifer Aubel, Aprio and Damien C. Specht, Morrison & Foerster LLP Even though GSA’s Multiple Award Schedule (MAS) is a popular point of entry into the federal market, the requirement to demonstrate at least two years of corporate experience kept startups out. In order to give agencies access to innovative new companies on…
Read MoreAnita Bales Retires from DCAA
Aprio would like to wish Director Anita Bales congratulations on her retirement from the Defense Contract Audit Agency (DCAA)! Aprio’s Government Contract Compliance Team works with contractors to help them coordinate with auditors and prepare for various upcoming DCAA audits. During this process we provide advice and suggestions on corrective actions, offer resolutions to questions…
Read MoreAprio BTCS Migration Simplification
Aprio Cardpointe Service Overview
Definition of Compensation Errors for Retirement Plans
Definition of compensation errors are the most common plan error that we see on audit and can be the most costly to correct. The corrections can be very time consuming and can require guidance from ERISA counsel and/or approval from the IRS through the Voluntary Correction Program (VCP). In general, definition of compensation errors occur…
Read MoreCalifornia is Now Requiring Schedules Report California Tax Basis Capital Accounts
At a glance Main takeaway: The State of California amended their tax laws now requiring Schedules M-2 and K-1 to report California tax basis capital accounts and not federal tax basis capital accounts. Impact on your business: California is known for issuing tax laws that differ from federal tax law. Taxpayers should pay close attention…
Read MoreDissecting Maryland’s Taxation of Digital Products: Part 3 – Some Continued Education and Nonprofit Organization Events are Taxable
Last year, the Maryland General Assembly enacted House Bill 932, which made the sale of digital products subject to tax. Notes accompanying the legislation indicated that changes were needed to keep pace with consumer preference for buying products in digital form. In short, Maryland’s sales tax law needed to be modernized to keep pace with,…
Read MoreTotal Time Accounting and Uncompensated Overtime
Without a total time accounting policy, a Federal contractor leaves the door wide open for the possibility of DCAA disallowing labor costs, in addition to distorting the base for proper direct and indirect cost allocations. The term “Uncompensated Overtime” refers to hours more than the standard 40-hour week worked by employees who are exempt from…
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