Manufacturing & Distribution

FASB Improves Accounting Related to the Tax Cuts & Jobs Act

FASB Improves Accounting

The Financial Accounting Standards Board (FASB) addressed an accounting issue created by the Tax Cuts & Jobs Act by releasing FASB Accounting Standards Update (ASU) 2018-02, Income Statement – Reporting Comprehensive Income. This ASU addresses an accounting issue having been coined the name “the stranded tax effect” and is...

Changing Perception on a Career in Manufacturing

Career in Manufacturing

- by Linda Marie Pearson, CPA, CFE Manufacturing is Important Yet… While Americans value the manufacturing industry, but they are not choosing manufacturing for their careers. According to the 6th U.S. Public Opinion of Manufacturing Study conducted by the Manufacturing Institute and Deloitte, 7 out of 10 people interviewed...

Rhode Island 2018 State of the State Address

RI 2018 State of the State Address

Let's Keep Going At last night’s 2018 State of the State Address, Governor Raimondo, once again, called for legislature to pass the Rhode Island Manufacturing Initiative, a package of workforce training and economic development programs aimed to rebuild Rhode Island’s manufacturing industry. She also pointed out that “the responsibility...

The Value of the Governor’s Workforce Training Grants

-by Michael DeCataldo, CPA/PFS, CFP®, MST, Managing Partner As the business climate continually changes, companies often need to train their employees to allow their business to meet new challenges. Developing your employees’ skills can position your business to take advantage of opportunities and remain competitive and successful in the year...

Delayed Implementation Date for Some

The Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) which allows for a later adoption of the revenue and lease ASU's. This option is made only to businesses...

Healthcare Summit Presented by RIMA

Healthcare Summit for Manufacturers

Rhode Island Manufacturers Association (RIMA) is hosting a Healthcare Summit on September 14, 2017 from 7:30 am to 10:00 am at the Providence Marriott on Orms Street. The Healthcare Summit will feature Dr. Marie Ganim, RI's newly appointed health insurance commissioner as well as leaders from...

AICPA Addresses Three Revenue Recognition Implementation Issues

-by Andrew de Labry, CPA In May 2014 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The ASU supersedes and replaces nearly...