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News & Events

  • FASB Proposes to Simplify the Classification of Debt

    by Linda Marie Pearson, CPA, CFE On January 10, 2017, FASB issued an exposure draft to simplify the classification of debt in a classified balance sheet (current versus noncurrent). The amendments in this proposed Update will replace the current, fact-specific guidance with “an overarching, cohesive principle” – the intent, of which, is to […]Read More
  • FASB Focuses on Inventory Disclosures

    -by Linda Marie Pearson, CPA, CFE, Principal On January 10, 2017, FASB issued an exposure draft to change the disclosure requirements of inventory. The proposed main provisions include required disclosures for: Disaggregating inventory by component (for example, raw materials, work-in-process, finished goods, and supplies). Note: While many companies already provide this information within […]Read More
  • Amazon to Collect RI Sales Tax

    Things just got a little bit more expensive. Rhode Islanders will have to pay sales tax when making purchases on Amazon, just like our neighbors, Massachusetts and Connecticut. The company voluntarily agreed to collect Rhode Island’s 7% sales tax beginning on February 1, 2017. Amazon currently collects sales tax from 33 states. […]Read More

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