According to most accounts, Friday’s massive cyberattack hit as many as 200,000 victims in at least 150 countries and that number could grow. Cybersecurity experts say the spread of the ransomware virus — named WannaCry – which denied users access to their computers has been slowed down, but it has not been stopped. The quick spread of the virus, is another reminder of how crucial it is to keep computers properly patched.
It does not take a major disaster to seriously impact your business, even a loss of power that shuts down your phone systems or order processing for a day could lead to incalculable lost revenue. MBAF has some basic tips to help you be prepared regardless of the type or size of your business.
FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606 or ASC 606). This ASU introduces a new comprehensive model for revenue recognition, which will replace virtually all of the previously existing revenue recognition guidance in U.S. GAAP. This publication provides you with a convenient summary of the new guidance and key differences between current GAAP and Topic 606.
Canada and US Sign Agreement for Exchange of CbC Tax Reports
Canada and US entered into a new “competent authority agreement” (CAA) to exchange country-by-country (CbC) reports. CbC reports are designed to help both the IRS and its Canadian equivalent better monitor the dealings and tax affairs of multinational enterprises that operate in their respective countries. But, what is the stated goal of the CAA and can it be used as a substitute for a transfer pricing analysis?
MBAF would like to invite you to our signature event. Our informative breakfast will cover President Trump's First 100 Days, and trending tax updates and planning strategies for both businesses and individuals.
MBAF has been named the winner of the Greater Miami Chamber of Commerce’s South Florida Good to Great Awards® in the “249-999 employees” category. MBAF is the only accounting firm to receive this recognition since the firm was named a winner in 2008.
Typically, lenders must wade through detailed financial statements and footnotes to get a sense of a borrower’s financial status at a given moment. But especially when a company is floundering or in between reporting periods, it’s helpful ...
Among major corporations, 401(k) plans have become common, but even the smallest of businesses can have a 401(k) plan for retirement. One-participant 401(k) plans, known by names such as Solo 401(k) and Uni-k, are available. For some business owners ...
On June 7, 2017, Canadian officials announced that they had entered into a new “competent authority agreement” (CAA) with the US to exchange country-by-country (CbC) reports. CbC reports are designed to help both the IRS and its Canadian ...