Accounting and Auditing Cryptocurrencies

…sale of digital assets constitutes revenue. In this case, the revenue should be recognized once the control of the digital assets has transferred. The revenue should be recognized in accordance…

AICPA Issues Guidance on Accounting for PPP Loans

…ASC 958-605, which provides guidance on recognizing revenue specific to not-for-profit organizations. Under this guidance, the loan would be accounted for as other purpose-restricted grants. It would be recognized initially…

Unrelated Business Income Tax Silo Proposal Rules

revenue and expenses derived from all activities “not substantially related” to their exempt function for the purpose of calculating their Unrelated Business Taxable Income (UBTI) in compliance with section 511(a)(1)….