In this first installment of our series on treasury and risk management best practices, find out why it’s critical to incorporate payment process best practices into your business and what you can do to achieve that goal. Implementing payment process best practices for your treasury...
Read MoreReal estate, like many industries, has been hit hard by the COVID-19 pandemic. On April 27, 2021, Governor DeWine signed Senate Bill 57 (SB 57) into law to offer additional help. SB 57 offers property owners a chance to file a “COVID complaint” to request that the county value their...
Read MoreDespite the ongoing COVID-19 pandemic, the deal market, in many aspects, is on fire — with soaring multiples, a higher than normal volume of deals in play and private equity buyers taking a front seat. However, the pandemic has impacted transactions in critical ways, from valuations to deal...
Read MoreOver the course of the last three-plus years there have been a number of significant economic assistance and tax legislation bills passed: Tax Cuts & Jobs Act (TCJA), CARES Act, Consolidated Appropriations Act and, most recently, the American Rescue Plan Act (ARP). There are more...
Read MoreThe Consolidated Appropriations Act contains various COVID-19 economic relief measures. The law includes provisions that extend previous relief provided to large banks on the accounting rules related to credit loss as well as troubled debt restructuring (TDR) until January 1, 2022.Previous FASB...
Read MoreAcquiring a business means going through the process of revaluing the acquired assets and liabilities at the acquisition date fair value. And if you acquired deferred revenue as part of the acquisition, that too must go through this revaluation process. But often that reevaluation results in a...
Read MoreThe Department of Health and Human Services (HHS) has distributed $178 billion to hospitals and healthcare providers on the front lines of the COVID-19 pandemic, thanks to the Provider Relief Fund established by the CARES Act back in March 2020. Throughout the crisis, cash was sent to various...
Read MoreMany companies have restructured or modified their outstanding debt arrangements during the COVID-19 pandemic — some for the first time ever. In recent months, the Financial Accounting Standards Board (FASB) has received many questions about how to apply the accounting guidance on debt...
Read MoreThis blog was updated 12/9/21 Over the past few years there have been impactful changes to the rules surrounding the deductibility of meal and entertainment expenses, starting with the Tax Cuts and Jobs Act (TCJA) of 2017 and continuing with the Consolidated Appropriations Act, 2021.Namely, this...
Read MoreCOVID-19 has changed risk considerations and the way audit planning is conducted. But many smaller businesses issue reviewed, not audited, financial statements. If you are one of those companies, below are some changes you might expect as your accountants conduct year-end review procedures.1...
Read MoreDue to the COVID-19 crisis, many companies expect to report higher-than-normal write-offs of accounts receivable (A/R) in 2020 and possibly beyond. As year-end approaches, businesses need to review their A/R ledgers for stale, uncollectible accounts that should be written off and consider whether...
Read MoreNobody enjoys having to deal with debt covenant issues, but, particularly in times like these, they can be common and can have significant accounting consequences. Due to the economic hardships caused by the pandemic, many companies may find themselves in violation of one or more of their bank...
Read MoreIf your company has a foreign subsidiary or affiliate, at some point you will be faced with foreign currency transaction and translation adjustments. Do you know what each one represents and which financial statement(s) they impact? Do you understand how foreign currency adjustments should be...
Read MoreIn response to COVID-19, many entities have reduced employee headcount to remain in business. As a result, it’s more important than ever to understand how to account for termination benefits. This includes carefully considering which types of benefits are being provided and the overall...
Read MoreIn this installment of our “M&A Essentials” series — offering a fundamental understanding of the concepts, issues and processes every business owner should be familiar with when considering and conducting the sale of a business — we focus on the nuts and bolts of each...
Read MoreIn this installment of our “M&A Essentials” series — offering a fundamental understanding of the concepts, issues and processes every business owner should be familiar with when considering and conducting the sale of a business — we focus on the main people you&rsquo...
Read MoreIn this installment of our “M&A Essentials” series — offering a fundamental understanding of the concepts, issues and processes every business owner should be familiar with when considering and conducting the sale of a business — we talk about key areas to address when...
Read MoreSelling a business is a complex endeavor. As advisors to business owners and shareholders of private companies, we have helped companies to navigate the process from beginning to end. We are excited to share those experiences and insights in this new series, “M&A Essentials.” The...
Read MoreThere’s been much talk surrounding the new leasing standard that has already taken effect for publicly traded companies and looms over privately held companies for periods beginning after December 15, 2019. One of the most anticipated standards the Financial Accounting Standards Board (FASB...
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