Impact of COVID-19 on Retirement Plans

Impact of COVID-19 on Retirement Plans

The pandemic we are currently living in has resulted in the breakdown of financial backbone of many, mostly by eating out on the individual savings and emergency funds completely. To cover current expenses, many had to migrate unwillingly to their…

Remote Work & Technology – Tools for Success

Remote Work & Technology – Tools for Success

In today’s world, Technology is an invincible factor for a successful work-from-home modus operandi by a CPA firm. To build a successful remote work system, here are the tips for efficiently utilizing “Technology” as a tool: Set up Correct Configuration(s)…

Accredited Investors & New Disclosure Rules

Accredited Investors & New Disclosure Rules

SEC recently altered certain rules for public company disclosures and paved the way for accredited investors to get increased access to the private capital market. In this respect, the amendments to Regulation S-K will result in simultaneous alterations to Public…

New NPA Accounting Rules for Gifts-in-Kind

New NPA Accounting Rules for Gifts-in-Kind

FASB has proposed a new alternative to assist NPA firms or Private company franchisors in sync with a new accounting standard. Under the same, such firms would need to provide additional information on the contributions of non-financial assets (Gifts-in-kind) that…

Checklist for Successful Client Evaluation

Checklist for Successful Client Evaluation

The AICPA Statements on Quality Control Standards (SQCS) require firms to establish policies and procedures for the acceptance and continuance of client relationships and specific engagements. These apply to a CPA firm’s accounting and auditing practice, as well as any…

3 Targeted Lease Accounting Changes

3 Targeted Lease Accounting Changes

FASB issued a proposal to improve 3 targeted areas of its lease accounting guidance, brought into the board’s visibility by public company stakeholders, and which, do not presumably impact the ongoing practices. The proposed amendments represent FASB’s commitment for timely…