Current Expected Credit Loss (CECL) Standard for Non-Financial Entities
In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13 Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which enacted changes to credit loss recognition thresholds for certain financial instruments. … Read more…
Update: BOI Reporting Enforcement Halted
On December 3, 2024, a Texas district court issued a nationwide preliminary injunction against the Corporate Transparency Act (CTA). This injunction means that Beneficial Ownership Information (BOI) reporting is no longer required, and noncompliance with the January 1, 2025, deadline … Read more…
ASC 842: Impact of the New Lease Accounting Standard on Private Companies
The long-awaited accounting standards update (ASU) for leases is finally at our doorsteps. ASU 2016-02, and its subsequently issued amendments, enacted some significant changes in accounting for leases, with the primary goal of increasing transparency and comparability among entities and … Read more…
Oregon Corporate Activity Tax Update
ALERT: The Oregon Department of Revenue is adjusting requirements of businesses making estimated quarterly payments of the Corporate Activity Tax. Beginning immediately, the Oregon Department of Revenue has revised OAR 150-317-1300, dated April 27, 2020, to reflect a change in … Read more…
Business Continuity Plans – More Necessary Than Ever
During this unprecedented time of the COVID-19 outbreak, business and nonprofit leaders have found themselves reacting quickly to news updates and finding creative ways to sustain business operations, without risking the health of their employees. Many may be asking themselves … Read more…
Will Outsourced Bookkeeping Benefit Your Business?
Successful businesses of all sizes have one thing in common: they keep good records. Owners and investors look to financials to assess a company’s health; debtors and vendors review financial statements before entering into contract; and financial reports help make strategic … Read more…
Benefits 2.0: Looking at the Future of Talent Retention
In an environment with a booming economy and record-low unemployment, talent retention is key to the ability of a thriving business to meet customer demand. The stakes are high when top talent leaves an organization in today’s job market. Talent … Read more…
Financial Reporting and the 4 Levels of Service
When asking a Certified Public Accountant (CPA) for a report and financial statements, it is important to know what type is needed and what will be delivered for each type. In the world of CPA services applied to financial statements, … Read more…
