Articles
FASB Delays Implementation of the Revenue Recognition and Leases Standards and Issues New ASU on Reference Rate Reform
In response to feedback received from various stakeholders, the Financial Accounting Standards Board (FASB or Board) voted on May 20, 2020 in favor of a one-year deferment of the implementation of the Revenue Recognition (ASC 606) and Leases (ASC 842) standards for private companies that have yet to issue their financial statements. This is a result of the continuing struggle private companies are facing carrying out daily accounting tasks in light of the COVID-19 pandemic.
New York Forward Loan Fund Aimed at Small Entities with 20 or Fewer Full-Time Employees
New York State recently announced an economic recovery loan program for small businesses, not-for-profit (NFP) organizations, and small landlords (50 units or less) that have seen a loss of rental income.
New Jersey Implements New Requirements for Mandatory Fees for Public Institutions of Higher Education
New Jersey’s public institutions of higher education will soon face new requirements for documenting and tracking mandatory fees charged to students.
How an Election Manager Can Assist With Board Elections
By Susan M. Barossi, CPA, Partner and Michael Caputo, CDMP Article Excerpt: Many associations take a do-it-yourself approach to organizing and running […]
FASB Delays Revenue Recognition and Leases Standard for NFPs in Response to COVID-19 Concerns
At its meeting on Wednesday, May 20, 2020, the Financial Accounting Standards Board (FASB or Board) voted on or clarified three issues involving the standards for: revenue recognition, leases, and contributions received and made.
Getting Back to the Business of Business
We don’t know for sure whether the U.S. economy will rebound and boom once the lockdown ends and we are all back to business.
Time to Get Creative – Save Money and Leverage Impact
Just as certain insurance companies have given credits or refunds for car insurance premiums because of the lack of usage […]
PPP Payroll Costs – Don’t Jump the Gun
Since the release of the Paycheck Protection Program (PPP) Loan Forgiveness Application (Application), there have been hundreds of articles detailing the specifics of the Application and the information it provides on costs eligible for forgiveness.
SBA Offers Relief to PPP Recipients with Foreign Affiliates
On May 18, 2020, while most Paycheck Protection Program (PPP) participants were studying the Loan Forgiveness Application released on May 15, 2020, the U.S. Small Business Administration (SBA) issued an Interim Final Rule (IFR) on Treatment of Entities with Foreign Affiliates.
PPP Loan Forgiveness Application: An In-Depth Analysis
Like Alice’s trip down the rabbit hole in Lewis Carroll’s famous 1865 novel, the Paycheck Protection Program (PPP) has been filled with surprising, strange and sometimes frightful twists and turns.
PPP Loan Forgiveness Application: Overview
On May 15, 2020, the Small Business Administration (SBA) issued Paycheck Protection Program (PPP) Loan Forgiveness Application (Application).
Do Employees Working from Home During the Pandemic Trigger State Tax Nexus for Their Companies?
In the time before the coronavirus outbreak – which seems so long ago ‒ companies were addressing state tax considerations of their mobile workforces