FASB Issues Guidance to Determine the Customer in Service Concession Arrangements of Share-Based Payment Awards

May 22, 2017

On 16 May 2017, the FASB issued ASU No. 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services. The FASB issued this ASU to eliminate diversity in practice in how an operating entity determines the cu ...

Explore

Is Owning a Sports Team Just Like Owning Any Other Business?

May 22, 2017

The Super Bowl, The World Series, The NBA playoffs – most of us are thrilled to watch our favorite teams vie for the championship. But, did you ever stop and think about what it could be like to own a sports franchise? It can be as challenging ...

Explore

AICPA Releases New Standards on Evaluating Cybersecurity Risk Management Programs

May 17, 2017

In response to growing market demand from customers, vendors, business partners and regulators for useful information about an entity’s cybersecurity risk management efforts, the AICPA has expanded the options available for organizations to vol ...

Explore

4 Key Areas to Review When Assessing a Borrower's Ability to Compete

May 17, 2017

For a small business to meet its loan obligations, it must possess the ability to compete in the marketplace. What factors should a lender consider in assessing a prospective borrower’s ability to compete? Analyzing financial statements can unc ...

Explore

Global Malware Attack Is Serious and Escalating

May 16, 2017

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 today, as people return to work. Cybersecurity experts in Europe, say the spread of the ransomware viru ...

Explore

If You Get a Letter From the IRS – Don't Panic!

May 15, 2017

It can be very scary — you go to retrieve your mail, and among the usual bills and junk, there is a plain white envelope with the return address: Treasury Department – Internal Revenue Service. The first thing the IRS advises anyone to do if ...

Explore

What Is the Future of CRM? – A Look at the Top Trends in the Industry

May 15, 2017

In the complicated and hype-riddled world of enterprise IT, few systems are more important than customer relationship management software (CRM). Long gone are the days when everything was written down by hand or kept in poorly organized spreadsheets. ...

Explore

Accounting Standards Codification Topic 606 - Revenue from Contracts with Customers

May 12, 2017

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606 or ASC 606). This ASU introduces a new comprehensive model for revenue recognition, wh ...

Explore

FASB Issues Updated Guidance on Modification of Share-Based Payment Awards

May 11, 2017

On 10 May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718) — Scope of Modification Accounting. The FASB issued this ASU to provide clarity, eliminate diversity in practice and reduce cost and complexity when appl ...

Explore

SEC Issues No-Action Letter for Broker-Dealers Regarding Operating Lease Liability

May 10, 2017

In 2016, The Securities and Exchange Commission (SEC), released a “no-action letter” providing relief to broker-dealers from the effects of the Financial Accounting Standards Board’s (FASB) previously issued new accounting standard ...

Explore