A new accounting standard goes into effect starting in 2018 for churches, charities and other not-for-profit entities. Here’s a summary of the major changes: Net asset classifications The existing rules…
Hedging Strategies The Financial Accounting Standards Board (FASB) recently issued some targeted improvements to its guidance that could encourage more companies to engage in hedging arrangements to minimize volatility in…
How effectively do you manage risk? Businesses can’t eliminate risk, but they can manage it to maximize the entity’s economic return. A new framework aims to help business owners and…
Protect your Payroll and Ask for a Service Audit Report Payroll can be an administrative nightmare if done in-house, especially for smaller companies. In addition to keeping up with employee…
Tax reform 2017 The Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance released a framework for tax reform yesterday that they hope will…
Teachers who buy supplies for their classrooms may be eligible for a tax break. At back-to-school time, much of the focus is on the students returning to the classroom —…
How much financial knowledge do they have? Provided by Dane A. Wilson, Wealth Management Advisor Some young adults manage to acquire a fair amount of financial literacy. In the classroom…
We live in an increasingly specialized society. As such, a subset of the workforce with distinctive skill sets that can perform high-quality services is increasing. Through independent contractor relationships, companies…
Midyear Tax Planning In the quest to reduce your tax bill, year-end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here…
The FASB wants to fix inconsistent reporting The Financial Accounting Standards Board (FASB) has amended U.S. Generally Accepted Accounting Principles (GAAP) to clarify the guidance on reporting restricted cash balances…