On July 22, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The standard changes the measurement principle for inventory from the “lower of cost or market” to “lower of cost and net realizable value (NRV)”.  The new principle is part of FASB’s More >

On July 11, 2016 the Department of Labor (DOL), in coordination with the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC) (together called the Agencies) announced their proposed revisions to the Form 5500 Annual Return/Report series.  More>

Looming in the shadows of every organization is management’s fear of the perils that threaten them on a day to day basis. These include, but are not limited to, incomplete and/or inaccurate documentation and fraud.  However, in the midst of the inevitable exposure to that risk, there is hope.  And that lies in the Segregation More >

The American Institute of Certified Public Accountants (AICPA), recently published a detailed listing of original and extended tax return due dates.  These deadlines are generally effective for taxable years starting after December 31, 2015 (2016 tax returns prepared during the 20174 tax filing season).  More>

Read Full Version Analysis of a Not-for-Profit’s Financial Statements Are Credit Card Cash Back Rewards and Airline Miles Taxable? New Lease Accounting Standard From Reluctant to Excited: Turn Your Board Into Enthusiastic Fundraisers Employers to Offer More Benefits in the Future Avoid the Drain of Bad Meetings

The number of 401(k) plans has grown persistently from around 17,000 covering roughly 7.5 million active participants in 1984 to almost 527,000 plans covering almost 64.5 million active participants in 2013. Assets in 401(k) plans were approximately $4.2 trillion in 2013.  With the continually growing popularity of 401(k) plans, it is important for plan sponsors More >

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