2020
Showing 49–64 of 589 results
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How COVID-19 is affecting auditing and financial reporting
November / December 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 873
Abstract: The COVID-19 pandemic has affected virtually every area of business for most auto dealers. Since it began in the spring, questions have arisen about the crisis’s impact on auditing and financial reporting. A list of frequently asked questions (FAQs), compiled by the American Institute of Certified Public Accountants (AICPA), helps answer some of those questions. This article is a summary of that discourse; it highlights disclosing risks and uncertainties and evaluating subsequent events. A sidebar spotlights the AICPA’s FAQ coverage of going concern disclosure requirements.
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Is it time to automate equipment warranty tracking?
November / December 2020
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 429
Abstract: Staying on top of equipment warranty requirements and expiration dates is an important task in the construction business. Yet contractors who maintain multiple vehicles and pieces of equipment often struggle to track their various warranties, missing out on valuable savings. This article discusses the concept of automating the process with advanced software.
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6 factors to evaluate before bidding on an infrastructure project
November / December 2020
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 555
Abstract: As of this writing, the construction industry continues to await passage of a federal infrastructure bill. Some states, however, have been pushing ahead with initiatives of their own. This article explores six factors that construction companies should evaluate before bidding on a public infrastructure project.
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Heading off construction disputes at the pass
November / December 2020
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 653
Abstract: In the Old West, the best way to catch a bunch of outlaws hightailing it out of town with their rucksacks full of loot was to head them off at the pass. A common culprit of “loot” disappearing from the bank accounts of many construction companies is disputes with project owners. This article explains some ways contractors can take a page from the cowboys of old and head off owner disputes at the pass.
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Construction accounting today – FASB addresses contract revenue recognition
November / December 2020
Newsletter: Contractor
Price: $225.00, Subscriber Price: $157.50
Word count: 921
Abstract: This article discusses recent guidance issued by the Financial Accounting Standards Board. The guidance seeks to help businesses, including construction companies, comply with the latest version of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). A sidebar notifies readers of an extended effective date for ASU No. 2016-02, Leases (Topic 842).
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County of Maricopa v. Office Depot Inc. – Is that expert report final — or a draft?
November / December 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 441
Abstract: The question of whether an expert’s report is a draft, and therefore not subject to discovery, is a hot topic in some courts, both federal and state. This article summarizes a recent federal district court case that demonstrates the stakes involved when making this determination. County of Maricopa v. Office Depot Inc., No. 14-01372 (D. Ariz. Oct. 9, 2019)
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Owners’ compensation: Determining what’s reasonable
November / December 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 519
Abstract: At year end, it’s common for business owners to reflect on the year’s performance and decide whether they’ve been fairly compensated for their efforts. This article highlights some important issues for clients to consider before deciding to whether pay themselves a holiday bonus or make a special distribution to help cover their personal tax obligations from earnings from a pass-through business.
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Spotlight on fraud in the nonprofit sector
November / December 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: Times of crisis bring out the best — and worst — in people. During the COVID-19 pandemic, it’s critical for not-for-profit organizations to remain diligent in their efforts to combat fraud. This article identifies steps that not-for-profit clients can take to minimize fraud risks and help fulfill their mission.
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Family matters – Are cash advances gifts or loans for tax purposes?
November / December 2020
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 872
Abstract: When friends and family members are struggling to make ends meet — like during the COVID-19 crisis — loved ones may give or lend money to help. However, it’s important to understand whether a client’s transfers will be classified as gifts or loans for tax purposes. This article summarizes a recent U.S. Tax Court case that highlights how the determination is made and how changes in circumstances may lead to different classifications for subsequent transfers. A sidebar highlights a gift tax case where value was determined by the transfer document, not the donor’s intent. Estate of Bolles v. Commissioner, T.C. Memo. 2020-71 (Tax Ct. June 1, 2020) Nelson v. Commissioner, T.C. Memo. 2020-81 (Tax Ct. June 10, 2020)
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Bank Wire – FFIEC updates BSA/AML examination manual
Fall 2020
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 423
Abstract: This summary of recent developments in banking discusses several significant revisions to the FFIEC’s Bank Secrecy Act/ Anti-Money Laundering Examination Manual. It also notes that the OCC has proposed an update to its regulations that permits banks to hold in-person meetings, and that in June the OCC released its Spring 2020 Semiannual Risk Perspective, reporting key issues facing the federal banking system. In addition, the article points out that the FFIEC recently provided cloud computing guidance.
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Are off-site bank examinations here to stay?
Fall 2020
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 542
Abstract: During the COVID-19 pandemic, many banking regulators have shifted to an off-site, or remote, examination process. Many people believe that off-site examinations — with their obvious efficiencies and other benefits — will become standard operating procedure in the future. This article explains the Federal Reserve’s position on use of off-site examinations under unique circumstances and looks at some key factors in how examiners determine whether they’re appropriate, including a bank’s risk profile and management preferences.
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Hedge your bets – Balance risk vs. reward in asset concentrations
Fall 2020
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: A community’s economy is often based on just one or two industries, with a smattering of others in the mix. But primarily lending to just one industry, whether it’s to farmers, manufacturers or any other group, can throw a community bank’s loans out of whack and make it tough to recover if that industry takes a hit. This article discusses how community banks can balance risk and reward as they provide lending services to local industries.
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Now’s the time to review your internal controls
Fall 2020
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 907
Abstract: The COVID-19 pandemic has had a dramatic impact on the way banks and other organizations do business. Some banks have closed branches — and many are operating with reduced staff or relying more heavily on remote workers. These conditions create internal control challenges. This article suggests that it’s a good idea for banks to review their internal control policies and procedures and consider strategies for making them more efficient and effective. A sidebar offers some cybersecurity tips for remote workers.
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Optical Works and Logistics v. Sentinel Insurance Company – Using financial experts to support business interruption claims
November / December 2020
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 443
Abstract: As a result of pandemic-related shutdowns, many businesses have filed claims under their business interruption insurance policies. These claims have resulted in litigation over the scope of coverage and the meaning of key policy terms. This article highlights a pre-COVID-19 case that demonstrates the importance of using a financial expert to determine losses when making business interruption claims. Optical Works and Logistics v. Sentinel Insurance Company, No. 15-163-JJM-LDA, D.R.I., March 26, 2020
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Handle financial testimony by lay witnesses with care
November / December 2020
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 576
Abstract: When business owners or other laypeople testify on complex financial or valuation issues, there’s a risk that their testimony will be found inadmissible in commercial litigation. This article explains the Federal Rules of Evidence that apply to these witnesses and how a credentialed financial expert can help avoid potential pitfalls. United States ex rel. Technica, LLC v. Carolina Cas. Ins. Co., No. 08-CV-01673-H (KSC), S.D. Cal., April 11, 2012 Ruhr v. Immtech International, Inc., 570 F.3d 858, 7th Cir., June 30, 2009
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Restructuring: How business owners can get their groove back
November / December 2020
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: The COVID-19 crisis has affected virtually every business. Many small business owners may be ready to throw in the towel, but restructuring can provide a fresh start. This is a highly complex process that requires continuous monitoring to be effective. This article outlines four ways financial experts can help management get back in the groove by harnessing cash flow and actively managing the company’s finances.