Is the success of your business tied to certain “key” people? Many startups, professional service firms and small businesses are at risk of losing a key person. Here are ways to identify and shore up this critical risk factor.
The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic relief package, large public banks get a reprieve from implementing the updated rules.
Start off the new year right: Prepare your company’s prospective income statement, balance sheet and statement of cash flows.
The Financial Accounting Standards Board (FASB) voted Wednesday, May 20, 2020, to give private companies and nonprofit organizations that have not yet issued their financial statements an extra year to comply with the revenue recognition and leases standards. Why did FASB extend the effective date? The deferred implementation was based on feedback the FASB received[ … ]
The U.S. Office of Management and Budget (OMB) released the new “Super Circular” in December 2013. The Super Circular consolidates and streamlines eight Federal regulations including OMB Circulars A-110, A-122 and A-133 into a single guide. The OMB’s and the Council of Financial Assistance Reform’s (COFAR) focus was to: Eliminate duplicative and conflicting guidance Focus[ … ]