Jan 7, 2020 New Payroll Protection Loans General Overview The SBA has not yet issued regulations and guidelines regarding the new Paycheck Protection Program (PPP) loans available under the new…
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November 23, 2020 Update on PPP Forgiveness Funds On November 18, 2020 the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51 in order to clarify and…
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September 23, 2020 AICPA Releases PPP Loan Forgiveness Calculator The AICPA has released a PPP loan forgiveness calculator. The Excel workbook is based on the most recent regulations and also…
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August 27, 2019 Delaying Effective Dates for Leases, Hedging, and Credit Losses Lease Standard (ASU 2016-02, Leases; FASB Accounting Standards Codification 842) The FASB tentatively decided (subject to comments received…
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November 1, 2018 Changes to the Requirement for Consolidating VIEs By Linda Marie Pearson, CPA, CFE, Principal FASB has just amended the FASB Accounting Standards Codification (ASC) related to the…
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May 17, 2018 Clarifying Donor Restrictions New Reporting of Net Assets Starting Soon New rules set to take effect for the fiscal year beginning after Dec. 15, 2017 (with early…
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May 7, 2018 How Can Audit Techniques Guides Prepare You for an Audit? IRS Audit Techniques Guides Provide Clues to What May Come Up if Your Business is Audited IRS…
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February 16, 2018 The New Nonprofit Liquidity Disclosures Accounting Standards Update 2016-14 “Liquidity worries haunt nonprofits,” intoned CFO Magazine in a 2009 headline. At that time, not-for-profit organizations were scaling…
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February 15, 2018 FASB Improves Accounting Related to the Tax Cuts & Jobs Act The Financial Accounting Standards Board (FASB) addressed an accounting issue created by the Tax Cuts &…
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December 4, 2017 Help for Health Care Entities’ Financial Reporting Requirements For Health Care Entities structured as a not-for-profit organization, the AICPA has recently released guidance for implementing FASB Accounting…
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November 2, 2017 Healthcare Organizations Need to Prepare for Revenue Recognition Changes By Linda Marie Pearson, CPA, CFE The implementation of FASB’s Accounting Standards Update (ASU) No. 2014-09, Revenue From…
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October 5, 2017 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…
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September 6, 2017 Healthcare Summit Presented by RIMA Rhode Island Manufacturers Association (RIMA) is hosting a Healthcare Summit on September 14, 2017 from 7:30 am to 10:00 am at the…
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August 10, 2017 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,…
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January 20, 2017 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…
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January 19, 2017 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…
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May 26, 2016 Accounting for Goodwill to Change By Linda Marie Pearson, CPA, CFE Does your entity have goodwill on its balance sheet? If so, a change simplifying the accounting…
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May 19, 2016 The Overtime Rule By Linda Marie Pearson, CPA, CFE On May 18, 2016, the U.S. Department of Labor (DOL) published final regulations defining those employees exempt…
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March 8, 2016 Changes to Lease Recognition By Linda Marie Pearson, CPA, CFE Financial Accounting Standards Board (FASB) has just amended the FASB Accounting Standards Codification (ASC) related to leases.…
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January 18, 2016 Executive Sessions: What They Are and Why You Should Have Them By Linda Marie Pearson, CPA, CFE A private conversation among board members seems to contradict the…
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November 23, 2015 FASB Simplifies Balance Sheet Presentation of Deferred Taxes FASB issues Accounting Standards Update (ASU) No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes simplifying…
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September 1, 2015 Proposed Change to Revenue Recognition Standard By Linda Marie Pearson, CPA, CFE The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) to…
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July 15, 2015 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…
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April 23, 2015 Changes to Not-for-Profit Financial Statements FASB Releases Proposed ASU to Change Not-for-Profit & Health Care Entities’ Presentation of Financial Statements Written by Linda Marie Pearson, CPA, CFE,…
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April 2, 2015 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…
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