Professional Services

Revenue Recognition Rules Delayed

FASB Votes to Delay Implementation of Revenue Recognition Rules At a meeting held on July 9, 2015, FASB voted to approve a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. A majority of nonpublic entities will have until annual reporting...

Your Company’s Retirement Plan – Things to Consider

As beneficial as it may be to you and your employees, sponsoring a tax-qualified retirement plan is not without its risks.  The rules can be complex and ever-changing, and the IRS and Department of Labor (DOL) will not hesitate to come down hard on plan sponsors who do not comply,...

FASB Agrees to Delay Implementation of Revenue Recognition Rules

At a meeting held on April 1, 2015, FASB verbally agreed to delay the required effective date of the new Revenue Recognition Rules. While FASB has yet to issue its proposal for the delay, all reports are stating that the original deadline of 2017 will be delayed to 2018....

Update Since FASB Issued Revenue Recognition Changes

What’s Been Happening Written by: Linda Marie Pearson, CPA, CFE Since Financial Accounting Standards Board (FASB) issued the Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, there seems to be an endless supply of questions, of which, the AICPA has begun to address. Their response has...

Protect Your Practice from Fraud and Embezzlement

Physician's Money Digest has posted a new article written by John Teixeira, CPA, CHBC, titled “Protect Your Practice from Fraud and Embezzlement”. While the topic is directed at physicians and their practice groups, the information applies for most business owners. John offers some quick tips on how you can personally...

New E-Licensing Simplifies Business License Process

The state of Rhode Island has a new e-licensing system which was designed to make obtaining or renewing a license in RI more convenient and easier. The licensing portal will provide 24/7 access to more than 43,000 licenses offered through the R.I. Department of Business Regulation, including (but not limited...

Exit Planning: Is an ESOP the Right Exit Strategy for You?

It's never too early to start thinking about the day when you will eventually exit the business you've built, grown and nurtured. The most common include passing the business on to family members or selling it to outsiders (for example, private investors or a competitor) or insiders (your employees). Another...