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Accounting Topics

Untangling the Technical – Lease Accounting Update

May 11, 2018

Sean Lager, Audit Partner at Frazier & Deeter and member of AICPA’s Technical Issues Committee explains the changes to lease accounting. He also describes how public and private companies are impacted by these changes. Untangling the Technical is available on iTunes and Google... Read More

Technology Companies: the Revenue Recognition Transition

April 12, 2018

The accounting world has been debating the pending changes to how revenue is recognized for nearly a decade. The new standard (ASC 606) for revenue recognition became effective for public companies beginning January 2018 and nonpublic companies are on deck... Read More

Large Employers Should Watch for IRS Letters about their Company Health Plans

January 8, 2018

While Congress eliminated the Affordable Care Act’s individual mandate, that doesn’t impact the employer requirements. The IRS is ramping up its efforts to enforce penalties against large employers who do not provide adequate health insurance plans. Employers with 50 or... Read More

Partnership Loses Millions for Faulty Conservation Easement on Famous Building Façade

November 20, 2017

The Palmolive Building in Chicago is one of the country’s premier Art Deco skyscrapers. Built in 1929 as headquarters for the famous soap manufacturers, the building was later occupied by Playboy Enterprises for about 30 years, then housed retail, offices... Read More

Partnership Audit Rules Shift Focus to the Entity

July 25, 2017

Two years ago, Congress enacted the Bipartisan Budget Act of 2015, which made significant changes to the way partnerships are audited. The Act requires that tax be assessed and collected at the partnership level instead of the partner level. The... Read More

New Accounting Alternative for Private Companies

May 19, 2017

Breaking News! A new accounting alternative for private companies has been approved by the Financial Accounting Standards Board.   Find out more about the new guidance for applying variable interest to common control leasing arrangements by reading this blog written by... Read More

Accounting Standards Update Issue 12 D

May 15, 2017

On January 17, 2013 the Financial Accounting Standard Board’s Emerging Issues Task Force (“EITF”) finalized an issue related to accounting for obligations resulting from joint and several liability arrangements. If the EITF’s consensus is ratified by the Financial Accounting Standards... Read More

Perspectives: Revenue Recognition and Healthcare Organizations

March 15, 2017

Healthcare organizations face possibly the most daunting set of compliance issues of any industry. On top of the ongoing uncertainty regarding the ACA and the need to protect private patient information, healthcare organizations also have changes to accounting standards to... Read More

DOL Overtime Regulations on Hold

November 28, 2016

The December 1st deadline for U.S. Department of Labor’s increased exempt-status salary thresholds is on hold, at least temporarily. Last week a federal judge in Texas entered a nationwide injunction blocking the Department Of Labor (DOL) from implementing the new... Read More

Educating Your Purchasers

October 17, 2016

Recently, I attended a presentation by Wayne Stanley and Michelle Korsmo, both with the American Land Title Association. Their presentation summarized the findings of several focus groups and research studies pertaining to the real estate closing process and the role... Read More

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