The One Big Beautiful Bill Act (OBBBA) will have widespread impact for almost every taxpayer. Visit our OBBBA Resource Center regularly for continuing updates and guidance on the tax impact of this legislation to you and your industry.
Learn MoreGrant audits are a critical component of financial management for for-profit entities receiving federal funding. Learn more in our Virtual Summer CPE webinar recap.
Read MoreThe nonprofit sector is navigating changes in federal funding, accounting standards and regulatory requirements. Learn more to help your NFP.
Read MoreAs a business owner, you’ve likely dedicated a significant portion of your life nurturing and growing your business into a success. And now, regardless of the reason — and there are plenty — it’s time to sell. What are your next steps? What are the best practices to understand before diving in head...
Read MoreWhen your entity receives federal funds, any purchases you make with federal funds, whether goods or services, must adhere to the Uniform Guidance rules outlined in the Code of Federal Regulations (CFR), specifically 2 CFR Part 200. These rules are designed to ensure procurement processes are...
Read MoreThe Ohio Society of CPAs (OSCPAs) has selected Assurance Partner Marie Brilmyer as a 2024 Power of Change honoree, celebrating her role in shaping the accounting profession for women leaders through extraordinary leadership, community involvement, mentorship and innovation. Brilmyer has spent her...
Read MoreOur recent webinar offered a comprehensive overview of the latest developments and standards in not-for-profit accounting, aimed at keeping our clients abreast of significant changes and challenges in the field. Specifically, we discussed the applicability of new and future accounting...
Read MoreWhile not-for-profits such as schools, housing agencies and local charitable organizations commonly receive federal grants in many capacities, these dollars are available to many types of entities, including for-profit entities. Often, grants are made to for-profit organizations from agencies...
Read More** This blog was last updated 12/20/24 ** A grant audit, also known as a compliance audit or program-specific audit, is a type of financial audit conducted on organizations that receive grants or funding from federal sources, such as government agencies. The purpose of a grant audit is to ensure...
Read MoreHistorically, entities recognized a credit loss when it was probable to occur under U.S. GAAP. Now, ASU 2016-13 has removed the “probable” threshold. The current expected credit loss (CECL) model in effect for private companies for the years beginning after December 15, 2022, requires consideration...
Read MoreGenerally accepted accounting principles (GAAP) did not historically provide specific guidance on how to account for the formation of a joint venture. In response to diversity in practice, earlier this year FASB issued ASU 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805-60):...
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