Assurance
Internal Controls in a Remote Workplace Environment
In an effort to #flattenthecurve of the coronavirus pandemic, many workplaces are going 100% remote. Every business should ensure that…
New Description of Materiality for Audit and Attest Engagements
The American Institute of Certified Public Accountants’ (AICPA) Auditing Standards Board (ASB) recently issued a new description of materiality for…
Guidance Issued on Calculating and Reporting the QBI Deduction for Tax-Exempt Trusts
The IRS has issued guidance to tax-exempt trusts with unrelated business income, which claim the §199A Qualified Business Income (QBI)…
How to Account for Debt Securities
US Treasury bills are short-term obligations sold at a price less than their face value. Treasury notes and bonds are…
Department of Labor’s New Focus During Retirement Plan Audits
Most employers are terrified at the thought of being audited by a regulatory agency. Retirement plan audits in particular cause…
Audit Preparedness and You
Audit season is starting up for organizations with December 31st year ends. Nothing really rings in the New Year like…
Qualified Tuition Reduction
What is a qualified tuition reduction? A qualified tuition reduction can be anything from a partial to full waiver of…
Procurement Policies for Nonprofits
As of January 1, 2018, nonprofit organizations must be in compliance with the new procurement regulations. If you haven’t done…
ASC 606 Revenue Recognition Series: Allocating the Transaction Price (Part V)
The fourth step of the Financial Accounting Standards Board’s (FASB) ASC 606: Revenue from Contracts with Customers (ASC 606) is…
ASC 606 Revenue Recognition Series: Determining the Transaction Price (Part IV)
In ASC 606: Revenue from Contracts with Customers (ASC 606), the third step in the conceptual framework is to determine…