SEC Custody Rule’s No-Action Letter Provides Some Relief to Registered Investment Advisors (RIAs) The SEC has issued a no-action letter providing relief from some investment advisors’ requirement to receive a…
…Looking ahead: What is next in the series Next, we will turn to technical accounting challenges, including revenue recognition for grant funds, categorizing network costs, and documenting in-kind support. Building…
…one-year delay on the required implementation dates of the new lease and revenue recognition standards for certain entities. What are the Financial Statement Presentation and Disclosure Requirements of the Lessee…
…reporting Revenue recognition (ASC 606) and stock-based compensation accounting (ASC 718) Business combinations, debt and equity instruments, and cost accounting Federal and state grant compliance, including GAGAS Employee benefit plan…
…prevent missed contributions and strengthen overall plan compliance. 1. Eligible compensation and operational nuance Every 401(k) plan defines eligible compensation in its adoption agreement, commonly W-2 wages, Internal Revenue Code…
…the job listing is complete. The job listing should include completed jobs and jobs in-progress during the current year. Consider a completeness check by comparing the total revenue earned for…
Employer/employee guide to pension, HSA, and other retirement related adjustments The Internal Revenue Service (IRS) announced cost of living adjustments to contribution limits for individual pension plans and other retirement-related…
Research and development accounting method change procedure update On December 29, 2022, the Internal Revenue Service (IRS) issued guidance for businesses to use the automatic accounting method change procedures to…
…include: The Russian Ruble has collapsed 50% against the US dollar in less than two weeks. A 50% currency collapse means cybercriminals have to bring in 2x the revenue just…
…December 31, 2025. As noted above, the deduction is based on “qualified business income,” a newly defined term in the Internal Revenue Code. Qualified business income (QBI) is the sum…