Implementing FASB ASU on Contributed Nonfinancial Assets In September 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-07 Not-For-Profit Entities (Topic...
Insourcing, Outsourcing, And Co-Sourcing: Which Is Right For You? Conventional wisdom often holds that it is most efficient to keep all roles in-house, but this is not always the case. If an...
Impacts of the New Lease Standard, Topic 842 The new lease standard, ASC Topic 842, is effective for privately held companies with fiscal years beginning after December 15, 2021. So, for companies...
The industry has been talking about GASB for close to a decade now but it is finally here. The new lease standard will add almost all of our leases onto our balance sheets and will be showing lease...
Government contractors were breathing a collective sigh of relief when the Financial Accounting Standards Board (FASB) pushed back the deadline for private companies and nonprofits to comply with new...
Employers have spent the last two years dealing with many challenges and disruptions, and they are now looking to move forward in 2022 against a backdrop of economic and pandemic-related uncertainty...
Brown Edwards Director Zach Webber reviews the three core financial statements – the balance sheet, income statement, and statement of cash flows. He also covers their importance, key metrics and...
Every six years, the Internal Revenue Service (IRS) requires employers with qualified, pre-approved plans to restate their plan documents – reflecting changes that have occurred since the plan...
Since late 2017, taxpayers have been implementing the congeries of changes wrought by the most significant revisions to the Internal Revenue Code (IRC) in a generation, the Tax Cuts and Jobs Act...
Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain relationships with donors, volunteers and the communities they serve while...